New fed vaccine mandate issued: What CFOs need to know now

From Cfodailynews: Employers with 100 or more employees, get ready: You just got hit with a new vaccine mandate for COVID-19.

Soon your entire workforce will need to be vaccinated (and you must offer paid time off to get vaccinated). And if they opt out due to religious or health reasons, those individuals must be tested weekly.

That’s the upshot of President Biden’s new executive order.

If you fit the bill, you’ll want to start preparing now to comply. The order comes with some costly consequences.

Fines can run as high as $14,000 per incident for failing to follow the new mandate.

However, several questions remain on your part to control the pandemic. Here’s the scoop.

What we still don’t know about the mandate

Hopefully more information on the new vaccine manndate will come out in the coming weeks, but these are the big question marks at the moment:

  • When will we have to start complying? The good news: Not immediately. The executive order didn’t take effect right away. The Department of Labor will need to create a rule through OSHA. The less-good news: It will only take a few weeks for them to do that. From there employers will likely have between 50 and 90 days to comply.
  • What will count as employees for the eligibility headcount? Are only staffers who go into the office considered in that 100-employee or more threshold? No word on whether remote workers count at this point. If you’re close to the threshold, start scenario planning different counts to find out if there are certain ways you won’t be impacted.
  • How will testing work? Besides the fact that testing should occur weekly for unvaccinated no other details emerged on specific types of test required, who foots the bill, etc.

We’ll update you on answers to all of these as soon as the feds release more information. Stay tuned.

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