WTW's Salary Budget and Planning Report found that companies are budgeting an overall average increase of 4.1% for 2023, which will result in pay raises.
Large employers and health plans offering HSA-eligible plans have expanded pre-deductible coverage for medications and services that prevent the exacerbation of chronic conditions, which has minimal impact on premiums.
How can companies reign in — or better yet, dial down — health benefit costs for not only themselves but also their employees? One recent yet rapidly rising solution is switching from traditional group plans to ICHRAs.
U.S. Securities and Exchange Commission Chair Gary Gensler announced plans in March to require companies to spell out the risks that the climate crisis poses to their operations in annual reports and other documents.
In a year already marked by overwhelming legislative and regulatory change, group health plans now must address abortion coverage in the wake of the U.S. Supreme Court's recent decision in Dobbs v. Jackson Women's Health Org.
"These trends further reinforce stark differences in community wellbeing across the nation, including high variability across key individual wellbeing factors and social determinants that define the overall circumstance of where individuals live, work and play," the Sharecare Community Wellbeing Index says.