The past year completely altered everything we knew about health care — especially the way it's managed. The health care industry is still changing, leaving self-funded employers more confused than ever.
Clients rely on their benefits advisor to help them navigate the unknown and plan for the future with some level of predictability. As we settle into our next normal, brokers will need to advise their self-funded clients to build plans that meet their employees' new expectations while keeping costs low.
The new landscape
Health services spending was down roughly 2.7% (based on seasonally adjusted annual rates) as of December 2020 compared to December 2019, according to the Peterson-Kaiser Family Foundation Health System Tracker. Despite the dramatic decline in the early months of the pandemic, the health care industry has largely returned to its pre-COVID numbers.
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