For the past 12-24 months, rising inflation rates have been felt across all industries – and the health care sector was not spared. While many organizations tried to shoulder high health care costs during the pandemic, inflation has made this strategy increasingly unsustainable.
Employers are now faced with the challenge of finding solutions to mitigate the impact of these escalating costs on their organizations and workforce. For many, that means passing some of the burden onto their employees – whether they want to or not.
|Inflation's impact on the health care industry
Rising costs have a domino effect on the industry that is felt by employers who sponsor their organization's health plan. As hospitals are charged more for their products and face higher labor expenses, they pass those costs onto the health insurance carriers who manage the burden by charging employers higher premiums.
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