For employer-sponsored health plans, the 2024 cost picture may be better than the 2023 mess but worse than most of the last decade.
A team of analysts at the Centers for Medicare and Medicaid Services put data supporting that assessment in a new batch of national health expenditure projection tables.
The team predicts that:
|- Total U.S. employer spending will increase 5.8%, to $1.3 trillion.
- Enrollment will shrink 0.2%, to 178 million.
- Average spending per participant will increase 6%, to $7,459.
For employers, the expected 2024 spending growth rate is down from 10.2% in 2023. But, from 2014 through 2020, employers' cost growth rate was 5.1% or lower.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
