MMB Health Trends 2024
Getting the right balance between managing costs and meeting employee needs
Medical trend rates are beginning to exceed pre-pandemic levels. While the rate of increase is forecasted to drop slightly in 2024, the rate will still be higher than rates we saw pre-pandemic. The pressure to manage employee health program costs grows ever stronger.
Explore the top trends shaping employer provided healthcare - how to navigate double-digit cost increases; the increasing impact of non-communicable diseases; transforming healthcare systems; and innovations in how care is delivered. Learn how to effectively balance cost containment, but not at the expense of inclusivity and quality.
The top trends shaping employer-sponsored healthcare
Four key trends
Over half of markets face double-digit cost increases
With cancer topping the list in claims costs, employers need to prioritize and focus on preventative measures, while newer solutions to support people with a serious diagnosis should be considered.
86% of insurers globally believe medical inflation had a significant or very significant impact on the 2023 medical trend.
Health systems are facing disruption from skills shortages
Employer-sponsored healthcare provides opportunities to address this through offering access to high-quality centres of excellence, and by embracing digital health solutions.
70% of insurers expect using AI for first-line diagnosis and/or navigation to have a transformative impact on employer sponsored health care over the next five years.
Insurers are responding to employers’ needs for cost containment
Employers and their advisers should negotiate with providers to make sure that sensible cost containment measures are updated and are competitive.
42% of insurers have not updated deductible/excesses and co-payments and have no plans to do so.
Gaps around mental health, women’s health and inclusive benefits persist
Employers have an opportunity to make meaningful change for employees by offering inclusive benefits and targeting coverage gaps.
56% of insurers do not currently cover targeted mental health, socialization and learning issues for children, teenagers and families.
Are you achieving the right balance between business costs and employee needs?
MMB Health Trends 2024
Use this report to:
- Get a clear view of the top trends for employer sponsored healthcare as you plan for 2024.
- Learn the four key areas requiring HR professionals attention to better prepare for the year ahead.
- Take action to effectively address issues around cost mitigation and how to create greater value for your business and your employees.