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The pandemic is also accelerating a digital transformation in how employee benefits are accessed and managed, as more services are moving to a virtual platform. (Photo: Shutterstock)The outbreak of the COVID-19 pandemic that swept across the US mid-March has influenced many aspects of the benefits landscape in 2020, as we witness overall increased spending, particularly in terms of mental healthcare costs, according to the “US Benefits Trend Report 2020,” recently released by insurance broker and consultant NFP.
Containing the costs of medical and prescription plans, helping employees manage financial stress, ensuring employees are protected, and supporting a healthy and engaged workforce are not new objectives, but COVID-19 will affect how employers work to achieve them, according to the report.
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Good benefits matter, but not if employees don't understand how to use them.
Regardless of a mandate, implementation of COVID-19 policies is critical for the health and welfare of employees and their families.
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Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.
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