Three healthcare benefit consulting firms are forecasting costs to rise 5.4% to 8.5% in 2024.
Jasmine Taylor of Amarillo, Texas, saved money by using the "cash stuffing" method — allowing her to pay off debt in just two years. She joined "FOX & Friends" to share tips on how she did it.in a decade in 2024, according to forecasts from healthcare benefit consultants — although workers may avoid some of the increase due to the tight labor market.
Benefit consultants from Mercer, Aon and Willis Towers Watson see employers’ healthcare costs jumping by a range of 5.4% to 8.5% in 2024 because of, high demand for expensive weight-loss drugs and the wider availability of high-priced gene therapies. Over two-thirds of employers either don’t plan to shift any cost increases to their staff or will pass on less than the expected cost increase in 2024, according to a survey by Mercer, a unit of Marsh McLennan.
Aon projected an 8.5% increase in employer healthcare costs next year, with 1 percentage point of the total coming from weight-loss drugs alone. Sales of Novo Nordisk’s Wegovy, which is approved to treat obesity, as well as "off-label" use of similar diabetes drugs like Novo’s Ozempic and Eli Lilly’s Mounjaro for weight loss have surged amid high demand over the last year.About half a dozen gene therapies have been approved for use by U.S.
Businesses and insurers are also working to identify less expensive hospital networks for certain procedures. "Employees are given incentive that says if you go here, you pay less," said Janet Faircloth, senior vice president of Aon’s health innovation team.
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