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Insurance and Benefit Policy Trends for 2022

November 3, 2021

Via: HR Hero

As employers evaluate their benefits packages for the coming year, the past 2 years are going to play a significant role in that conversation. Before the pandemic, setting health insurance rates followed a formulaic pattern.

But, with COVID-19 throwing healthcare costs for a 2-year loop, finding a relevant comparable year on which to set premiums is a major challenge.

The COVID Effect

COVID hit the health insurance industry in two meaningful ways: First, the cost to treat infected patients, particularly in the intensive care unit, has been astronomical. Many estimates put each stay in the ballpark of $70,000.

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