The effects of the COVID-19 pandemic appear to be hitting young people the hardest, according to new research. Concerns about the virus itself, combined with economic anxiety and loneliness, have resulted in members of Generation Z and Millennials feeling more despondent than their older counterparts.
Employer-sponsored health plans must document their compliance with the federal Mental Health Parity and Addiction Equity Act, which requires equal coverage limits for mental health and medical benefits, and be prepared to give regulators, on request, a copy of this analyses.
The Consolidated Appropriations Act, 2021, includes provisions to increase transparency in employee health benefit plans regarding price and quality information, compensation to brokers and consultants, mental health parity and prescription drug costs.
The Department of Labor (DOL) has updated a tool to help large employers comply with the Mental Health Parity and Addiction Equity Act, which requires that health plan limits on mental health treatment are not more stringent than those for physical care.
Large employers project that their health benefits costs will rise 5.3 percent in 2021, up slightly from this year’s increase. Including premiums and employees’ out-of-pocket payments, average health care spending is estimated to reach $15,500 per employee next year.
The pandemic has taken a toll on workers’ physical and emotional health, and returning employees may require new accommodations. As worksites reopen, don’t overlook the need to identify and address employee work capacities, limitations and restrictions.