Employee healthcare costs are on the rise, and they’re projected to keep soaring. There are many factors driving this upward trend, including costs related to:
- Drug treatments and personalized medicine
- Increased number of those diagnosed and treated for chronic illness
- Employees’ desire for more benefits and services
- Rising rates of benefits fraud
- Medical cost inflation
How much are employee healthcare costs projected to rise?
We expect to see a 130% increase by 2025. And no — that isn't a typo!
What does this mean for you? A 130% increase in the cost of your workers’ employer provided benefits by 2025. No, that’s not a typo. Though you might want to turn a blind eye to these harsh realities, taking action today can safeguard the future of your company and the wellbeing of your employees.
You wouldn’t take a “wait and see” approach to rising costs in other facets of business, so why would you do so when it comes to rising healthcare costs?
Don’t wait to see how much rising employee benefits costs are going to hurt you. Your response will determine just how well your company fares in the coming years. A proactive and informed strategy will allow you to address the rise with the right tools and resources in place.
When you know what you’re up against, you can prepare for the future of healthcare. By taking action now, you can ensure your company will come out on top when the dust settles. Explore our whitepaper about rising healthcare costs and the steps you can take today to create a better tomorrow for your company and your employees.
By clicking Submit, I agree to the use of my personal information according to the Mercer Privacy Statement. I understand that my personal information may be transferred for processing outside my country of residence, where standards of data protection may be different.