As rising costs ignite frustration across the nation, a little-known aspect of our employee benefits purchasing system offers an opportunity to save billions on health care. This solution doesn’t require Congressional intervention; instead, it invites us to reexamine existing frameworks to reduce expenses and improve access for millions of Americans.
U.S. employers pay a staggering $1.2 trillion on healthcare benefits each year, with about $300B (25%) wasted. According to a new report from Mercer, they face a nearly 6% rise in health insurance costs, and that will make 2025 the third consecutive year in which employer healthcare costs rise by more than 5%.
