Healthcare benefits evolve as a result of Covid-19
The pandemic is bringing unprecedented change, but Harvard Pilgrim Health Care’s Beth Roberts and Dr. Elizabeth Cote from MyHealthMath say this is exactly what healthcare benefits need.
In a tumultuous year, with consumers facing stressful decisions about their healthcare options, many employers and insurers are transforming the way that they approach benefits.
Beth Roberts, senior vice president for commercial business at Harvard Pilgrim Health Care, says the industry is at a “tipping point” due to the rising costs of health insurance and that many employers are feeling pressure to do better on behalf of their constituents. She also predicts that the insurers who can help consumers navigate and make healthcare decisions in their best interests, such as opting in for preventative care, will be the companies that stand out.
Accountability is key and a stark differentiator, adds Dr. Elizabeth Cote of MyHealthMath, because both employees and employers want to know the value of their healthcare dollars, noting it is one of the biggest budget items they have. Consumers “deserve to have this accountability and know what they are purchasing with their dollars,” she says.
Press play to hear Roberts and Cote, as they discuss these issues as well as the changes to brought on by the Covid-19 pandemic, the rising importance of cost transparency and how it all will affect benefits for years to come.
