The Unexpected Consequences of Covid-19

The Unexpected Consequences of Covid-19

Healthcare in the Spotlight

The pandemic has brought common healthcare plan issues into the spotlight. Inadvertently, it has created an opportunity for forward thinking employers to reevaluate their plan design and improve things like the absence of mental health support, ‘ineffective deductibles’, limited employee choices or a ‘lack of transparency that leads to waste.’

Allowing employees healthcare options frequently leads most importantly to their improved health and care but additionally tends to reduce an employers’ overall healthcare spend. (Related article: Controlling Healthcare Costs)

Unexpected Consequences

Another albeit unexpected but not surprising result of the pandemic, has been consumers’ value shift around telehealth. In order to meet public need while still maintaining safe distances and reducing community spread of Covid-19, ‘virtual and telehealth’ care services have proven very valuable. Moving ahead and beyond the pandemic, what was once just an added health plan feature, has become a fundamental health plan requirement, at minimum until ‘there’s certainty about this disease’. “This time frame is creating a sense of permanence that … consumers, clinicians and plan sponsors will want as a foundation for their health plans.”

Seize the Opportunity

While the pandemic has potentially cast a spotlight on some holes in health plan designs like the lack of flexibility, transparency and customized features like virtual MDs, proactive company leaders are taking this time to review and possibly revise their company’s group health insurance and employee benefits plan.

As a global community, all have been impacted by this devastating disease. However, if there were a possible silver lining to this formidable dark cloud, it is the recovery of time. The coronavirus hit the proverbial pause button and c-level executives now find themselves with a priceless commodity, extra time. In the world beyond the pandemic, thoughtful business leaders are using this newly acquired ‘free time’ to analyze and plan how they’re going to conserve and protect their most valuable asset into the future, their employees.

Healthcare is complicated. We are here to help.

As a benefits and health insurance broker for small to midsized companies, Group Benefits Northwest leverages over 35 years of business, management and group benefits experience to provide the very best healthcare plans available to meet employer and employee needs.

If you would like a benefits review, get in touch by clicking this link.