Brokers and TPAs who offer COBRA administration expect changes in the number of accounts being managed from month to month. Or at least that was the case before COVID-19 came roaring in like a huge March wind in 2020.
Suddenly, to reference a song title from the hit Broadway musical Hamilton, "The World Turned Upside Down."
American unemployment in February 2020 stood at 3.5%, representing 5.8 million people. By April 2020, there were 23.1 million unemployed, or 14.7% — the highest rate since the U.S. Bureau of Labor Statistics began keeping records in 1948. At 4.0% unemployment in January 2022, we still have not returned to pre-pandemic levels.
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