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By Staff Reporters
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Employers expect health benefit costs to rise by more than 5% on average in 2024 as factors like high inflation, health labor shortages, and expensive new therapies put pressure on plan spending after years of 3%–4% annual growth, early data suggests.
Preliminary results from Mercer’s 2023 National Survey of Employer-Sponsored Health Plans found that total health benefit costs could increase by as much as 6.6% per employee if companies do nothing to control spending, or an average of 5.4% if employers take steps to hold down costs.
That slight gap suggests most employers don’t plan to make cost-cutting changes to their plans—likely due to concerns about healthcare affordability, the analysis noted. Many large companies (with 500+ employees) have avoided shifting costs to employees over the last five years, resulting in little growth in deductibles and other cost-sharing requirements.
CITE: https://www.r2library.com/Resource
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Filed under: "Doctors Only", Accounting, Funding Basics, Health Economics, Health Insurance, Healthcare Finance, iMBA, Inc., Industry Indignation Index, LifeStyle | Tagged: employer health benefits, health benefit costs up, health benefits, Health Insurance, Mercer, National Survey of Employer-Sponsored Health Plans f | Leave a comment »
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