About SickBank

About The SickBank...

SickBank – Because no one should have to go to work sick, because they cannot afford to stay home and get well…

Accrual and usage of benefit sick time is an important part of an employee's compensation package. Invariably there comes a time when an employee, as a result of illness or injury will need to utilize more sick time than he or she may have accrued. This could be a financial hardship to the employee and jeopardize his or her position within the organization. The SickBank is a national repository of sick time donated/deposited by employees of member organizations (employers) for use during extended or catastrophic illness or injury.

SickBank's mission is to level the paid sick time playing field and evenly redistribute the wealth of available sick days in the workforce. SickBank exists to ensure that every working individual has available paid sick leave when needed in a manner which is fair and equitable to all thus ensuring a leaner, healthier, more effective and productive workforce.

Facts and Statistics

Per the Bureau of Labor Statistics, The workforce in the United States consists of 151 million individuals.
There are over 30 million Employers in the United States with 16.7 million employing fewer than 25 employees.
The average annual income for working individuals is $62,000.
As of March 2019 76% of all civilian workers have access to paid sick leave.
68% of workers' sick leave plans provide a fixed number of days with an average of only 8 sick days per year; 3% of workers have an as-needed leave plan with no specific number of days; and the remaining 28% have a consolidated leave plan where all leave days are pooled combining vacation leave, personal leave and sick leave.
For workers with a fixed sick leave plan only 58% have a carryover provision.
The amount of provided sick time is often not nearly enough to recover from most illnesses.

What SickBank Does

SickBank offers two levels of membership: Full Membership for larger employers with greater than 25 full time employees, and Associate Membership designed for small businesses with 25 or fewer employees. With membership SickBank will provide paid sick leave in addition to paid leave already offered by the employer or paid sick leave for those employers who normally cannot afford to provide paid sick leave to their employees.

In Addition, SickBank can be utilized by employees to receive partial compensation during FMLA Leave. SickBank allows Full Members to Bank unused Sick Days from their employer for future use. SickBank will also facilitate the giving and receiving of employee sick day donations between all SickBank members.