Employers, many of whom have had to lay off employees in the age of social distancing, are going to be very motivated to change. They are going to scrutinize every cost, and they're going to do their research on alternatives.
This autumn is shaping up to be one of the most momentous open enrollment/annual renewal cycles that any benefits professional has ever seen.
Already, the post-COVID-19 predictions are shaking up the marketplace. One widely publicized report by Covered California predicts insurance premiums could increase by up to 40 percent next year. Those numbers sound terrifying for businesses already grappling with what could be an extended macroeconomic slowdown.
In truth, I believe those predictions are likely to be overblown. As I write this in early April, we don't know how the path of the disease will progress or whether the many steps governments are taking to "flatten the curve" will work in controlling its spread.
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