Changes To Employer Sponsored Healthcare Due to COVID-19
Expediting the transformation of employer-sponsored health care benefits, the COVID-19 pandemic has been the catalyst for several changes to group health coverage, some of which are discussed in more detail below: An increased use of telehealth Options to seek healthcare and advice via virtual methods has dramatically increased due to the ongoing pandemic, and many are hopeful that the gains will be lasting. As well as telehealth, employers are beginning to focus more on behavioral health needs and access, fortifying the management of chronic conditions post COVID-19, and have been showing more interest in advanced primary care and prevention.
The future of high-deductible/high-cost sharing plans While it’s true to say that in recent years, many more employers reintroduced a selection of plans for employees to choose from, HAS-qualified high-deductible health plans, or HDHPs) are still widely used and have the added advantage of employers contributing to HAS accounts to help offset the deductible. Employees can also build up balances in their accounts to help them pay for any costs arising from health care in later years.
As a business owner, helping your employees understand how important it is for them to keep plan premiums down, offering them simpler tools that give them the price information they need, and accurate information to help them with their health care decisions, can be instrumental to helping both them, and you, save money.
Online tools to help employees shop for health care While these were once simple tools that displayed nothing more than ranges and averages, nowadays, they are dynamic instruments giving personalized and relevant information to each person, and more often than not, in real time. That said, because health care can be incredibly complex, employers have begun to realize that pairing these tools with a concierge-like service to help employees better navigate their choices, is a more successful approach, and can help them make well-informed health care decisions.
Could government coverage, or Medicare for the 55s and over be on the horizon? The impact this could have on employer-sponsored coverage is difficult to specify, as a lot will depend upon whether it’s open to those offered employer coverage, or is only available to those who don’t have employer coverage. There are some proposals in the pipeline that only allow a public option to Medicare with a lower eligibility age if the individual doesn’t have an offer of employer or other group coverage, while other proposals would make it open to everyone.
An increase in employee wellness programs Currently, programs have been designed to help reduce medical claims by improving the lifestyles of employees, such as through quitting smoking, eating more healthily and taking more exercise, and sometimes both employees and their spouses are incentivized to take part in health assessments, biometric screening and health coaching. However, while financial incentives that are used for physical-health programs are still in use, they have gone down in recent years.
If you’re an employer seeking more detailed information as to how the ongoing pandemic has impacted employer sponsored healthcare, or are simply looking for help getting your employees covered, talk to a third party healthcare services provider. Apollo Payroll is one of the premier small business payroll companies in Miami Beach and Coral Gables. Apollo Payroll is dedicated to delivering expert advice, responsive service, and highly accurate payroll processing and reporting to ensure the success and growth of the business that we serve. Our services include comprehensive payroll service in Miami and other cities in Miami-Dade County, employee background check and group health insurance in Coral Gables & Miami.