Plan design will impact health benefits cost increases.
U.S. employers can expect health benefits costs to increase by 7%, but the shift can be reduced to 5.6% through plan management and strategic changes. [1] One of the top influences contributing to the rise in costs is the deteriorating availability of clinical labor staff. With cost increases looming, employers are refocusing on cost management strategies to slow increases over the long term while minimizing cost shifting to employees. Ready to discuss your strategy? Connect with an MMA consultant.
High-cost prescription drugs are a source of frustration.
Eighty-seven percent of employers are concerned about the new million-dollar treatments getting approved by the FDA. It is estimated that in 2023, cellular and gene therapies will total between 70 per million members and 43 per million members, respectively, compared with just 7 per million members in 2020. [2] Thankfully employers have options to reduce their pharmacy spend. Estimate your pharmacy savings with MMA Rx Solutions.
High-cost claimants and utilization increases will keep health care costs high.
For a variety of reasons, many individuals chose to forgo medical visits during the pandemic. The U.S. Bureau of Labor Statistics estimates that by 2024, a quarter of the workforce will be over the age of 55; of these, a third will be 65 or older, contributing to a higher need of care, increasing claims and health care costs
