COVID-19 has had a significant impact on group health insurance benefits. In this blog post, we will discuss how the pandemic has affected legislation, employee perceptions, and what employees are now looking for in their health benefits packages.
Did COVID-19 Affect Group Health Benefits in the United States?
The simple answer to this question is yes. The COVID-19 pandemic has had a major impact on group health insurance benefits in the United States in many different ways. Let’s take a closer look at each of these changes.
Covid-Centric Legislation
One of the most significant ways COVID-19 has affected group health benefits is through new legislation. In March 2021, Congress enacted the American Rescue Plan Act in response to the pandemic.
This legislation enhanced premium tax credits, and if made permanent, could make the individual market a more affordable alternative coverage option for small business employees, particularly those with lower incomes. For small businesses looking into group health insurance benefits and plans, this is a significant trend to watch closely.
Employees’ View of Health Benefits
After experiencing job loss and health challenges since the outbreak of COVID-19, many Americans are prioritizing health care benefits. One study predicted that nearly 18 million people would lose coverage through employer-sponsored plans if the unemployment reached 15%, as it almost did in April of 2020.
With the unemployment rate in the United States spiking in 2020, many lost their health insurance benefits or delayed seeking medical attention over fear of exposure to the virus.
When employees were asked about what they would like to see in their health benefits packages in the future, they cited several items, including mental health and telehealth.
Mental Health
The COVID-19 pandemic has taken a toll on mental health, and employees are no exception. Employees are now looking for employers to provide them with resources and support to help them cope with their mental health during this difficult time. Some of the things that employees are looking for in their health benefits packages include mental health counseling, access to virtual therapy, and stress-reduction tools.
However, it is not only employees who have been affected by the pandemic who are looking for mental health support. A CDC report said that the proportion of mental health-related emergency department visits shot up by 24% for young children and by 31% for tweens and teens in 2020. Employees may be looking for group health benefits that cover their families too.
Telehealth
Telehealth was on the rise even before the pandemic, but it has seen a sharp increase in use since COVID-19 hit. Employees are now looking for employers to provide them with access to telehealth services to get the care they need from the comfort of their homes.
Contact Bethany Insurance Professionals to Learn More
COVID-19 has significantly impacted group health insurance benefits in the United States. If you have any questions about how COVID-19 has affected group health insurance benefits or if you are looking for help with your own group health insurance benefits, contact the professionals at Bethany Insurance today!
We would be more than happy to help you navigate these changes and find the best group health insurance benefits for your employees.
