Mark Fendrick has a simple message for employers as they grapple with providing affordable health coverage: "Americans and employees don't care about healthcare costs," said Fendrick, director of the Center for Value-Based Insurance Design at the University of Michigan. "They care about what it costs them."

Fendrick participated in a breakout session on "Adapting Design Strategies During the Covid-19 Era" as part of the National Alliance of Healthcare Purchaser Coalitions' virtual 2020 Annual Forum. Speakers agreed that many employers and benefits providers are navigating uncharted waters.

"We need to remind folks as we roll into November, December, and January that three-quarters of Americans have taken a financial hit," Fendrick said. "Half of Americans have postponed high-value care. More than two-thirds already have told us that out-of-pocket costs are important to their decision to seek testing and treatment. If you are unfortunate enough to be hospitalized with Covid-19, your out-of-pocket responsibility averages over $1,000."