In June, we looked at PWC’s predictions about the costs of healthcare in 2021. For further information, we examine the results of the 2021 Large Employers’ Health Care Strategy and Plan Design Survey.
What Large Employers Are Planning: More on Healthcare Costs 2021
In order to address this topic, the Business Group on Health surveyed 122 member companies. The executive summary may be found here.
Below are several findings from the survey:
“In 2021, the total cost of health benefits should to rise 5.3%. The increase is slightly higher than the 5% increases employers projected in each of the last five years. Including premiums and out-of-pocket costs for employees and dependents, the total cost of health care will reach an estimated $14,769 per employee this year. The total cost will rise to an average of just over $15,500 in 2021. As in recent years, employers will cover nearly 70% of costs while employees will bear about 30%.”
“Eight in ten respondents believe virtual health will play a significant role in how care is delivered in the future, a sharp increase. Nearly all employers will offer telehealth services for minor, acute services. While 91% will offer telemental health. And that could grow to 96% by 2023.”
“Employers remain concerned about high-cost drug therapies. Two-thirds of respondents (67%) cite the impact of new million-dollar treatments as their top pharmacy benefits management concern.”
To conclude this post, review the following infographic based on the study. Interesting data!