Medical trend rates are beginning to exceed pre-pandemic levels. While the rate of increase is forecasted to drop slightly in 2024, the rate will still be higher than rates we saw pre-pandemic. The pressure to manage employee health programme costs grows ever stronger.
Explore the top trends shaping employer provided healthcare - how to navigate double-digit cost increases; the increasing impact of non-communicable diseases; transforming healthcare systems; and innovations in how care is delivered. Learn how to effectively balance cost containment, but not at the expense of inclusivity and quality.
With cancer topping the list in claims costs, employers need to prioritise and focus on preventative measures, while newer solutions to support people with a serious diagnosis should be considered.
86% of insurers globally believe medical inflation had a significant or very significant impact on the 2023 medical trend.
Employer-sponsored healthcare provides opportunities to address this through offering access to high-quality centres of excellence, and by embracing digital health solutions.
70% of insurers expect using AI for first-line diagnosis and/or navigation to have a transformative impact on employer sponsored health care over the next five years.
Employers and their advisers should negotiate with providers to make sure that sensible cost containment measures are updated and are competitive.
42% of insurers have not updated deductible/excesses and co-payments and have no plans to do so.
Employers have an opportunity to make meaningful change for employees by offering inclusive benefits and targeting coverage gaps.
56% of insurers do not currently cover targeted mental health, socialisation and learning issues for children, teenagers and families.
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