Aon has announced the launch of a web application that forecasts the impact of COVID-19 on employee populations throughout the US. Aon said that it designed the tool to help employers anticipate medical costs, absenteeism and potential needs to shift work operations due to the spread of the coronavirus.
“COVID-19 has brought uncertainties in many aspects of our lives, and this application will help employers understand their risks,” said Tim Nimmer, global chief actuary of Health Solutions for Aon. “Aon’s COVID-19 Employee Impact Model forecasts the impact on your employee population based on demographic-specific infection rates and advanced epidemiologic models.”
The tool works by using demographic data on employee populations and dependents covered by the employer’s health plan. It combines this employer-specific data with geographic infection rates from reputable epidemiologic models. The information is updated daily based on the spread of the coronavirus, social distancing measures taken by local governments, and the current figures for confirmed patients, hospitalizations, deaths, and testing and treatment patterns, Aon said.
The tool allows employers to estimate the impact of the virus on their employee population through the fall. Employers can select a date and see projected cases and medical claims costs.
“Aon consultants will work with employers to build plans on how to keep employees safe while minimizing disruptions to their operations,” Nimmer said. “In these uncertain times, it is important that organizations have the most current information from which to base their decisions to safely maintain vital operations.”
Key features of the tool allow employers to:
- View employee population impact by geographic area over time.
- Estimate the number of mild cases, hospitalizations, ICU visits and fatalities based on specific population demographics.
- Estimate healthcare costs associated with testing and treatment.
Aon is also working to add metrics that model workers’ compensation claims, time lost, salary replacement costs, disability and life insurance, and cost savings of deferred elective medical procedures.