COVID-19's Impact on Small Employer-Sponsored Health Insurance

COVID-19's Impact on Small Employer-Sponsored Health Insurance

Small businesses were arguably the most impacted by COVID induced lockdowns. 52% of them have had to lay off or furlogh workers, and as businesses start reopening, more and more are deciding to provide health insurance to their employees. A survey conducted by Cigna + Oscar found that 50% of small businesses were considering changing their health insurer or were unsure about sticking with their current insurer. Key findings from the survey include:

  • "Top factors that would influence small businesses to change their health insurer include a large network of top hospitals, doctors, and specialists, and better understanding and greater care about their business and employees."
  • "78% of small businesses in Atlanta say high-quality, personalized customer service and dedicated care support teams are more important to them following the pandemic."

Caralyst's services will offer health insurers a great competitive advantage. Businesses are seeking individualized healthcare that prioritizes mutual understanding and regard. By matching patients with in-network physicians based on humanistic factors, our product is working to meet the market's needs.