Did COVID undo years of health plan cost-containment gains?

Will the cost-containment gains of the past few years be lost to the virus? Most brokers say the results will vary from industry to industry. (Photo: Getty)

For more than a decade, employers have been searching for ways to reduce the ever-escalating cost of employee health insurance, while still offering a strong benefits package. By partnering with nontraditional brokers, many employers were making headway; some even began to spend less while offering more-comprehensive benefits. Then came the pandemic, and all bets were off.

COVID-19 pushed two major workforce trends into high gear: remote working and telemedicine. But it also added a new level of uncertainty to workforce management which, employers say, will be reflected in their benefits strategies for 2021 and beyond.