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Combat skyrocketing healthcare benefits cost: Choose the right vendor
We hate to be the bearer of bad news, but if you are seeing your healthcare benefits costs rising, you’re not alone. HR leaders across the country are sharing that their employers are seeing healthcare benefits costs skyrocket this over the past 12 months. Mercer’s annual survey on employer-sponsored health plans showed that small and medium employers saw employer-sponsored healthcare benefits costs rise by 10% and may go higher in 2022.
What’s contributing to these rising costs?
To find out, HR Morning spoke with industry expert Adrienne Schneider , former head of benefits for American Airlines and founder of The Camille Group, an advisory consulting firm.
“There are a few factors that are contributing to the increase,” said Schneider. “Prescription drug costs, specifically in the specialty care space, are causing employers to see a rise in healthcare benefits costs. Plus, there’s been a huge impact on healthcare workers with COVID-19, so to be able to retain healthcare workers there have been increased labor costs that are being passed on to employers through negotiations with health plans and health systems. And employers are seeing the impact of the effects of deferred care from 2020 and 2021. Those are just a few factors that […]