Canadian employers got a break on their benefits plan costs last year as employees largely stayed home and avoided in-person health practitioners.
But experts say the full cost of COVID-19 may only start to show up in the coming year, as mental health challenges, pandemic-delayed treatment for various illnesses and the virus itself could prompt more employees to claim or extend short- or long-term disability.
Private insurers saved an estimated $4.8 billion in health practitioner claims from just the period between March 15 and June 15, 2020, due to stay-at-home orders, insurance comparison platform Hellosafe.ca said in a September 2020 report. Private health insurance payouts dropped 71 percent from 2019 levels as Canadians avoided providers covered by their benefits.
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