5 employer insurance trends to watch in 2024

Employers will be expecting insurers and vendors to deliver more transparency and ways to cut healthcare spending in 2024, according to the Business Group on Health. 

In a Nov. 28 post, the association of large employers laid out 9 predictions for 2024. The group is made up of 440 large employers.

Here are five trends to note: 

  1. Employers will be watching healthcare costs closely. Healthcare costs are projected to continue climbing in 2024, and employers will look to strike a balance between cutting short-term costs and promoting more value-based care.

  2. As the need for more behavioral health continues to climb, employers are prioritizing mental health access, including expanding telehealth options and adding on-site behavioral health professionals. The Business Group on Health expects a growing push from employers to hold insurers and vendors accountable for expanding access to mental healthcare.

  3. Employers will go back to basics on physical health in 2024, according to the Business Group on Health. There will be more focus on preventive care and screenings, as employers anticipate increased prevalence of late-stage cancer because of delayed screenings.

  4. There is growing concern among employers over the rising cost of drugs, especially expensive new therapies like GLP-1s. Employers will demand more transparency from their pharmacy benefit managers in 2024, and more employers will explore rebate-free pharmacy agreements, the group predicted.

  5. Employers will expect more from their benefit partners in 2024, including more transparency and more data quantifying impact. 

See all of the Business Group on Health's predictions here. 

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