COVID may force employers to adjust 2021 benefit offerings

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COVID-19 and the subsequent economic downturn have forced U.S. employers to examine cuts and benefits they considered unthinkable at the beginning of the year, new data finds.

Gallagher’s 2020 Benefits Strategy & Benchmarking Survey–which gathered data from 3,921 employers from December 2019 to May 2020, as well as a series of employer pulse surveys conducted between April and July—finds that the pandemic, coupled with concerns over rising costs of specialty drugs and medical services, may force many organizations to adjust their 2021 benefits and compensation offerings. Employee cost sharing for medical benefits—which has remained relatively flat in recent years—may

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