News Tech: According to a report released on Thursday by the international professional services company Aon, the average cost for American companies that cover their employees’ healthcare would increase by 6.5% in 2023. From $13,020 in 2022, costs per employee will rise to $13,800 in 2024.
According to the analysis, the expected 6.5% increase in average costs for U.S. firms is more than double the 3% increase that employers saw in 2022. The rise, however, is less than the Consumer Price Index increase of 9.1% that the U.S. Bureau of Labor Statistics announced on Thursday.
The database of Aon’s Health Value Initiative, which contains healthcare expenses and benefit plans for almost 700 American firms, was utilised to compile the data for the research. These businesses will spend $76 billion on healthcare in 2022 and have 5.6 million employees.
Medical claims were lower in the beginning of the pandemic as many patients postponed care, creating a smaller budget in 2022. According to the research, claims are now gradually reverting to normal levels for employers while inflation is increasing.
According to Farheen Dam, the leader of Aon’s North American health solutions, “the influence of chronic diseases has far-reaching ramifications beyond what we see with healthcare expenditures, out to the other areas of the company, such absence and productivity, disability, and worker’s compensation.” “By concentrating on chronic diseases, we not only enhance the health and happiness of employees, but we also contribute to bettering their way of life and employment.”