Coventry and the Sounding Board wish you a safe and happy holiday season. Below is a compendium of some of our most popular blogs from 2021—topics that ranged from the state of the nation’s labor force to the pandemic.
The average number of baby boomers who retire from the U.S. workforce has been slowly growing over the last 10 years, as the population that “boomed” after the second world war have reached retirement age. But 2020 saw a big jump in the retirement rate, according to Pew Research Center, with over 3 million more people retiring than in 2019. Some workers left the labor force by choice; others were forced into early retirement. What’s driving this rising in retirement?
The Sounding Board met with Anne Levins, our Senior Vice President of Product Strategy & Analytics at Coventry, to talk about the surge in employee turnover in 2020 and 2021, as well as its ramifications in workers’ compensation.
The word “durable” brings a sense of long standing, like the words “endure” and “duration.” Durable medical equipment, or DME, refers to the sturdy devices and supplies injured workers need to maintain their daily lives as they recover. And it might be little surprise that until 2020, the most commonly ordered types of durable medical equipment remained largely the same from year to year. But then the coronavirus pandemic changed everything.
Employee absence can be costly for employers, whether it’s due to work-related illnesses and injuries or not. There are steps employers can take in areas ranging from physical fitness to behavioral health that can help make workers happier, healthier, and more productive on the job. The U.S. Department of Labor estimates that employee absenteeism costs companies nearly $1,700 a year per employee.
The Sounding Board met with Kate Farley-Agee, our Vice President of Network Products at Coventry, and Tammy Bradly, our Vice President of Clinical Product Development, to talk about the long-term effects that many people who contracted COVID-19 have reported.