U.S. employers to spend $1.3T on health benefits this year
- bill3766
- Jun 21, 2024
- 1 min read
The Centers for Medicare and Medicaid Services project a 5.8% increase in total U.S. employer spending on health plans in 2024, with slight enrollment decline and higher per-participant costs compared to previous years. Click here for article.
Total Spending Increase: U.S. employer spending on health plans is forecasted to rise by 5.8% to reach $1.3 trillion in 2024.
Enrollment Decline: Enrollment in employer-sponsored health plans is expected to decrease by 0.2%, totaling 178 million participants.
Per-Participant Cost Rise: Average spending per participant is projected to increase by 6%, amounting to $7,459.
Cost Trend Comparison: While 2024's anticipated growth rate of 5.8% marks an improvement from 2023's 10.2%, it surpasses the lower growth rates observed from 2014 to 2020, which were typically 5.1% or lower.
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