With consumer inflation and rising costs of healthcare, it’s more important than ever that employers develop and maintain quality benefits that are affordable — for both themselves and their employees.
In 2022, the average employer saw about a 5% increase in healthcare costs, according to an analysis from McKinsey. Throughout 2023, WTW has predicted that those costs will jump an additional 10%. If expenses continue to rise at an accelerated rate, over 70% of employers said they would increase employees’ share of costs, according to McKinsey. To avoid this, employers can keep a closer eye on employee’s preferences and needs to mitigate unnecessary expenses.
