Latest news with #MedicalLeave
Business Wire
06-05-2025
- Business
- Business Wire
ShelterPoint Becomes Approved Provider for PFML Coverage in Minnesota
GARDEN CITY, N.Y.--(BUSINESS WIRE)--ShelterPoint Life Insurance Company ('ShelterPoint'), a leader in statutory Paid Family and Medical Leave (PFML) programs, today announced its approval by the State of Minnesota as a private plan provider. This strategic market entry follows ShelterPoint's recent acquisition by Protective Life Corporation and strengthens the company's position as a leading provider in the rapidly growing PFML market across the United States. Leading Paid Family and Medical Leave specialist expands market presence as state programs continue to grow nationwide Share Minnesota employers will be required to provide PFML coverage beginning January 1, 2026. ShelterPoint's early market entry gives Minnesota businesses a crucial head start on compliance planning through private plan options. "Minnesota represents a significant opportunity to continue our mission of protecting more people during life's critical moments," said Leston Welsh, SVP and President of Protective's Employee Benefits Division (ShelterPoint). "As an approved carrier to offer private PFML coverage in Minnesota, we're leveraging our deep expertise in statutory benefits to help employers navigate this new requirement. Our specialized experience allows us to provide Minnesotans with the guidance and solutions they need to comply with confidence." ShelterPoint's Minnesota offering will provide the statutory coverage required under the state's program, which grants eligible employees up to 20 weeks of combined leave annually for qualifying family and medical events, including bonding with a new child, caring for family members with serious health conditions, addressing personal medical needs and safety leave. Minnesota joins two other states—Delaware and Maine—that are implementing PFML programs starting in 2026, with Maryland expecting to follow in January 2028. With these additions, a total of 13 states will have mandated PFML-type programs in effect by mid-2026. Private plans have emerged as an important alternative to state-sponsored PFML plans, offering employers more flexibility and potentially more favorable pricing while still meeting all statutory requirements. With quoting already available, ShelterPoint is positioned to help Minnesota employers understand their options well ahead of the state's private plan application process, which is expected to open in July 2025. Employers seeking to learn more about Minnesota's PFML requirements and private plan options can visit for details and sign up for updates on program milestones and regulatory developments. About ShelterPoint The ShelterPoint family of companies consists of ShelterPoint Life Insurance Company (principal office in Garden City, NY) and its wholly owned subsidiary, ShelterPoint Insurance Company (a FL-domiciled carrier). These companies operate under the "ShelterPoint" name strictly as a marketing name, and no legal significance is expressed or implied. ShelterPoint's holding company, ShelterPoint Group, Inc., is not a licensed insurance entity. ShelterPoint specializes in statutory benefit programs in the Paid Family and Medical Leave (PFML) space in a growing number of states. For more information about ShelterPoint, please visit About Protective Protective Life Corporation has helped people achieve protection and security in their lives for 118 years. Through its subsidiaries, Protective offers life insurance, annuity, asset protection and employee benefit solutions. Protective's more than 3,500 employees put people first and deliver on the company's promises to customers, partners, colleagues and communities - because we're all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., has $125 billion in assets, as of Dec. 31, 2024. Protective is headquartered in Birmingham, Alabama, and is supported by a robust virtual workforce and core sites in the greater Cincinnati area, St. Louis and Garden City, N.Y. For more information about Protective, visit
Yahoo
06-05-2025
- Business
- Yahoo
ShelterPoint Becomes Approved Provider for PFML Coverage in Minnesota
Leading Paid Family and Medical Leave specialist expands market presence as state programs continue to grow nationwide GARDEN CITY, N.Y., May 06, 2025--(BUSINESS WIRE)--ShelterPoint Life Insurance Company ("ShelterPoint"), a leader in statutory Paid Family and Medical Leave (PFML) programs, today announced its approval by the State of Minnesota as a private plan provider. This strategic market entry follows ShelterPoint's recent acquisition by Protective Life Corporation and strengthens the company's position as a leading provider in the rapidly growing PFML market across the United States. Minnesota employers will be required to provide PFML coverage beginning January 1, 2026. ShelterPoint's early market entry gives Minnesota businesses a crucial head start on compliance planning through private plan options. "Minnesota represents a significant opportunity to continue our mission of protecting more people during life's critical moments," said Leston Welsh, SVP and President of Protective's Employee Benefits Division (ShelterPoint). "As an approved carrier to offer private PFML coverage in Minnesota, we're leveraging our deep expertise in statutory benefits to help employers navigate this new requirement. Our specialized experience allows us to provide Minnesotans with the guidance and solutions they need to comply with confidence." ShelterPoint's Minnesota offering will provide the statutory coverage required under the state's program, which grants eligible employees up to 20 weeks of combined leave annually for qualifying family and medical events, including bonding with a new child, caring for family members with serious health conditions, addressing personal medical needs and safety leave. Minnesota joins two other states—Delaware and Maine—that are implementing PFML programs starting in 2026, with Maryland expecting to follow in January 2028. With these additions, a total of 13 states will have mandated PFML-type programs in effect by mid-2026. Private plans have emerged as an important alternative to state-sponsored PFML plans, offering employers more flexibility and potentially more favorable pricing while still meeting all statutory requirements. With quoting already available, ShelterPoint is positioned to help Minnesota employers understand their options well ahead of the state's private plan application process, which is expected to open in July 2025. Employers seeking to learn more about Minnesota's PFML requirements and private plan options can visit for details and sign up for updates on program milestones and regulatory developments.
Yahoo
28-04-2025
- Business
- Yahoo
Trump's ‘Baby Bonus': How New Mothers Could Soon Get $5K
In light of declining U.S. birth rates, President Donald Trump is considering offering a $5,000 incentive to mothers who give birth. The proposal was pitched to White House advisors, ABC News reported, and Trump reportedly said, 'Sounds like a good idea to me.' Read Next: Try This: However, the incentive is far from a done deal. First, a bill would need to be drafted, submitted to Congress and then passed by the House and Senate. At that point, Trump would have 10 days, excluding Sundays, to sign or veto it. Bills can take days, weeks or years to pass or fail a vote in Congress. The White House hasn't released additional details on where the money would come from, how it would be distributed or specific eligibility requirements. If birth rates after the program is introduced rival 2023 rates, the government would have to shell out $17.9 billion to pay parents. If the program works to incentivize Americans to have children, it could be even more. Be Aware: The U.S. saw just 3.6 million babies born in 2024, a slight increase from 2023's record low of 3.59 million, according to CDC figures. The birth rate has been below the 'level of replacement' in the U.S. since 2007, according to Time. The U.S. has relied on immigration to bolster the population; Trump's widespread deportations and closed-border policies could hamper this growth. The cost of raising a child from birth to age 18 increased by 35.7% between 2023 and 2025, according to a recent LendingTree report. Annual expenses to raise a young child, after tax exemptions, are $29,419 per year, with daycare costs eating half that money at an average price of $17,836, up 51.8% in the past two years. Speaking of eating, food expenses for kids rose by 29.6%. No doubt, $5,000 could help cover birth costs, partially compensate for sparse maternity leave pay — especially in states that don't have Paid Family and Medical Leave programs — and help pay for anything from car seats and cribs to formula in the first year. However, $5,000 would only make a small dent in first-year childcare costs and may not encourage people to have kids. A variety of factors have discouraged Americans from having children, including a lack of standardized paid family leave programs and rising healthcare costs. Karen Guzzo, director for the Carolina Population Center at the University of North Carolina at Chapel Hill told Time that work instability, economic strains, global conflicts and climate change are just some of the reasons people are delaying — or avoiding — starting families. 'There's no question that families need policies that make it possible for moms and parents to care for their kids, go to work and contribute to their communities,' said Kristin Rowe-Finkbeiner, executive director and CEO of MomsRising, in a press release. She emphasized infrastructure changes, fair pay for working parents, paid family leave and even an expanded monthly child tax credit as potential solutions. 'When we become a family-friendly country,' she said, 'families will have more children.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early 10 Genius Things Warren Buffett Says To Do With Your Money The New Retirement Problem Boomers Are Facing Sources ABC News, 'Trump administration looking at $5,000 'baby bonus' to incentivize public to have more children.' Time, 'U.S. Births Last Year Fell to Lowest Since 1979.' LendingTree, 'It Costs an Additional $297,674 to Raise a Child Over 18 Years, Up 25.3%.' MomsRising, 'Moms Leader: Ideas White House Is Reportedly Considering to Boost Birth Rates Are 'Sheer Lunacy'.' This article originally appeared on Trump's 'Baby Bonus': How New Mothers Could Soon Get $5K
