COVID-19 Will Change Business Health Coverage Renewals – Are You Ready?
It’s time to look again at self-funded plans and TPAs as a smarter alternative to major carriers
It’s a different ballgame now. COVID-19 will change coverage renewals. Not only will businesses have to absorb the usual 5%-7% price increase from major health insurance carriers in 2021, but the costs from covering COVID-19 may add another 7% to the bill. It’ll be even worse for companies with significant medical expenses caused by employees who contract the coronavirus.
Self-funded health plans, backed by the right choice of third-party administrator (TPA), represent a smart, effective alternative to business as usual. Learn how this powerful, proven combination saves healthcare dollars – as much as 20% over conventional insurance – while also improving quality of care.
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