X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

When the COVID-19 pandemic hit, medical costs suddenly went flat. People began putting off elective surgeries as a safety precaution, and medical providers, needing to increase hospital capacity, stopped performing these procedures as well.

According to a study from Harvard T.H. Chan School of Public Health, the Robert Wood Johnson Foundation, and National Public Radio, 1 in 5 Americans delayed health care during the pandemic. As a result, big PPO carriers found themselves with a considerable amount of money left over, allowing them to keep 2021 renewal rates lower than years past. But that relief likely won’t be permanent.

Total health care costs are projected to climb to an average of roughly $15,500 per employee in 2021. That equates to $10,850 for employers, who pay roughly 70% of the costs, and $4,650 for employees.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.