What employers expect to drive up health plan costs in 2023

 Employers are expecting their health plan costs to increase by a median of 7 percent in 2023, according to a Sept. 20 survey from the International Foundation of Employee Benefit Plans.

The International Foundation of Employee Benefit Plans compiled responses from 300 corporate/single employers, public employers/governmental entities and multi-employer benefit funds. Respondents were asked to name one primary reason for cost increases. Here are the top five answers:

1. Catastrophic claims (17 percent)

2. Medical provider costs (14 percent) 

3. Utilization due to chronic conditions (13 percent)

4. Utilization due to delayed preventive/elective card during the pandemic (12 percent) 

5. Specialty/costly prescription drugs (10 percent)

https://www.beckerspayer.com/payer/what-employers-expect-to-drive-up-health-plan-costs-in-2023.html