In a recent study, researchers identified rising costs, socioeconomic inequalities, and drug trends as major concerns for large employers.
More employers report cancer as the top contributor to healthcare costs for large companies. 2023 Investigation, management on the design of healthcare strategies and plans for large enterprises By Business Group on Health.
Cancer, cardiovascular disease, and musculoskeletal disease peaked as the top three health care spenders in the survey for the second year in a row. However, employers reported a 13% increase in terminal cancer for him, and about 45% expect to see a similar increase in the future due to delays in screening due to the COVID-19 pandemic.
Ellen Kelsay, president and CEO of Business Group on Health, said in a press release:
Research shows that employers have concerns that go beyond their own costs, including concerns about health equity and affordable healthcare. Employers claim to invest in providing health and well-being for their employees.
Between May 31, 2022 and July 13, 2022, researchers surveyed 135 large companies with a total of over 18 million employees. The study aggregated employer-provided healthcare data, including 2023 costs and healthcare plan designs.
Employers’ main concerns are:
- Rising costs. In 2021, actual healthcare spending will increase by an average of 8.2% after no cost increase from 2019 to 2020.
- Expensive employee compensation. Larger employers expect to cover 82% of their employee compensation costs this year, up from 80% last year, according to the survey. Employers are calling for long-term cost shifts, including targeting unsustainable medical and prescription drug costs.
- Prescription trend. Among large employers, a staggering 99% admit some concern about this. In 2021, prescription drugs accounted for 21% of his employer’s medical bills, and more than 50% of drugs included specialty drugs.
- long-term mental health problems. Survey responses show that 43% of large employers believe long-term mental health is a major health-related issue in the pandemic, and nearly the same percentage of large employers believe it is. We recognize this as a future healthcare issue. As a result, 85% of large employers report maintaining pandemic-related health and welfare services.
- Policies to lower the cost of health care and prescription drugs—Especially for new gene therapies and affordable daily medicines. Nearly a quarter of employers invest in low-cost or free virtual health care.
- Integrated virtual health. Nearly 84% of employers say hybrid virtual healthcare and in-person are critical to their success, and more than 30% plan to offer virtual primary care services in 2022.
- Health and well-being strategies. Research shows that 65% of employers say health and wellness are essential to their workforce. They found that retaining staff, supporting the overall well-being of employees, and influencing performance and culture were key factors.
- health equity. Nearly 75% of employers indicate they believe in health equity and plan to address racism, child care, transportation and food access/insecurity by 2025 . Law vs. Wade Protected abortion has continued to cause concern for employers.
Kelsey and team found that these findings enable employers to create “a more positive and sustainable healthcare experience, among other things.”
Health business group. According to Business Group’s 2023 Healthcare Strategy and Planning Design Study, cancer is now the top driver of his employer’s healthcare costs. news release. August 23, 2022. Accessed 23 August 2022.