The study, entitled Voluntary/Worksite Carrier Responses to the COVID-19 Pandemic, released to participants on Tuesday, April 14, 2020, found that of the 40 carriers surveyed, 85% have plans to provide relief to employers due to the COVID-19 pandemic. The most common relief measure mentioned was an extension of the grace period. In addition, 53% of carriers plan to provide financial relief to laid-off employees by allowing them additional time to pay their premiums.
Many carriers are considering other actions like sending special communications or benefit reminders or changes to enrollment options. A few carriers are already planning product changes. Some are modifying wellness benefits while others are considering changes to their critical illness or hospital indemnity offerings.
Voluntary/Worksite Carrier Responses to the COVID-19 Pandemic is an Eastbridge Frontline™ Report.
Eastbridge Information Partners as well as survey participants receive the Frontline™ Report free of charge. For more information regarding the Information Partner program or about Eastbridge reports, email us at [email protected] visit us at eastbridge.com or call 860-676-9633.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.