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Report: Group Health Plan Cost Inflation to Pick Up Steam

InterWest Insurance Services

A new report by Aon warns employers to expect average group health insurance costs to increase 8.5% in 2024, as inflation starts hitting the cost of delivering care as well as pharmaceuticals. The report predicts that employers will pay an average of $15,088 in 2024, compared to the average this year of $13,906.

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Health Benefits in the Workplace at Risk: Employers Try to Absorb the Shock

HR Digest

Health benefits for employees are proving to be a huge investment for employers , with total health benefit cost per employee expected to rise 5.4% Pharmaceutical companies and researchers insist that costs have to remain high for the production and further research to be viable. on average in 2024.

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New Approaches to Managing Health Care Costs, Improving Outcomes

InterWest Insurance Services

As health insurance and health care costs continue climbing, some employers are taking new and innovative steps to tamp down costs for themselves and their covered employees while not sacrificing the quality of care they receive. The goal for these employers is to reduce their and their employees’ costs and improve health outcomes.

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Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

Also, employees will be able to carry over up to $640 next year into 2025 if they have funds left over in their account, if their employer allows it (it’s optional). Anything above the limit at the end of the year is forfeited back to the employer. The employer can choose how much the employees can roll over, up to the limit.

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8 Ways Employers and Employees Can Save On Prescription Medications

Griffin Benefits

With over half of today's workforce enrolled in high-deductible health plans (51%), a majority of insured individuals are now on the hook for deductibles of at least $1,400. In doing so, you'll be helping them to become better consumers of healthcare and more satisfied enrollees in high deductible health plans.

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Here’s What You Need to Know About Stop-Loss Health Insurance

Griffin Benefits

Employers of every size continue to struggle with the rising costs of healthcare, which ultimately increases the cost of medical premiums for everyone. In fact, after raising the prices of more than 1,400 prescription drugs in 2022, pharmaceutical companies started 2023 off with a 5% increase for more than 450 medications.

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It's Time To Reconsider Aggregate Stop-loss Insurance

Griffin Benefits

A growing number of employers are currently experiencing a rise in catastrophic health claims, largely due to medical and pharmaceutical advances (e.g., As a result, many employers with self-funded health plans are actively looking for impactful mitigation strategies. specialty drugs and cell and gene therapies).