Just over a year ago we never suspected that wearing a face mask in public and social distancing would become part of our new normal. Concerts, festivals, and sporting events have been rescheduled or canceled, countless businesses have been forced to permanently close, and even Disney World temporarily shut their doors to the public.
With health and safety becoming a major focus this past year for everyone, how can employers prepare for changes to the group health and benefits planning process?
Planning Your Benefits
To accurately plan your health benefits going forward, you’ll want to begin by identifying any trends or changes from this year. Here are a few questions you should be considering:
- Have your claims gone up?
- Have you lost employees?
- Does your plan offer a low or no copay telemedicine product?
- Is this the year you should consider a level-funded plan (which can save 10%-15% in premium costs)?
- Do you have capabilities for employees to enroll online without having to collect paper forms?
- Do you need to get even more creative with plan options and your contribution strategy?
Our team can offer expert advice, creative solutions, telemedicine, and best-in-class digital capabilities so you never need to collect paper enrollment forms again.
The Newness of the Virus
While plenty of data exists for viruses that have been around for decades, there just isn’t a lot of solid information on COVID-19 costs yet – which can make planning for the next year difficult. How long will the virus last? Can normal activities be resumed after a vaccine is received? What kind of long-term health complications may occur from the virus? These are the kinds of questions that the medical, healthcare, and business communities don’t have the final answers to just yet.
We’re here for you.
Need help determining which group health options may work best for your organization? Our licensed benefits counselors are available to answer questions regarding your group health benefits, and may even be able to help you save some money. Learn more about our employer group solutions and what our team can do for you.