Managing a benefits program has never been more complicated. The COVID-19 pandemic placed a magnified and accelerated focus on benefits, and employers had to adapt quickly to meet the needs of their members. These needs are continuously evolving with breakthroughs in digital health, a required focus on mental health, and maintaining employee engagement with a remote population. Employees are requiring more robust benefits to support diverse populations at a time when member health has deteriorated, large claims continue to rise, and business pressures are minimizing spend across the organization.
Companies with employer-sponsored health plans need to strategically manage their offerings. If they don’t, they risk a significant amount of employee dissatisfaction and unnecessary spending. Now is a pivotal time for your company’s health and welfare programs due to:
- Anticipated high medical costs from foregone non-emergent care and pandemic challenges
- Upward pressures in healthcare benefits spend from the Great Resignation and DEI goals
- In U.S. healthcare, the employer has sole responsibility to control costs and optimize value
