For 2024, brokers and TPAs will be well served to focus strongly on options that add significant value. In its recently released Survey on Health and Benefits Strategies for 2024, Mercer cited three key themes emerging from conversations with leadership from more than 700 organizations of varying sizes:
- Employers anticipate significant inflationary impact on health plan costs, with a projected increase of 7% over 2023.
- Employers will be challenged to balance benefits with cost controls, especially for those already facing financial constraints.
- Attracting and retaining talent will remain very difficult, especially for industries with a relatively small labor pool.
One in four respondents said they had already begun working to improve their benefits programs in response to these issues. More than two-thirds will be incorporating changes for the upcoming plan year.
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