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"Brace for Rising Health Insurance Costs: What You Need to Know for 2024"
Health insurance costs are set to rise significantly in 2024, with employers expecting nearly 9% increases, impacting both workplace plans and health care exchanges.
- According to a Mercer survey, employers anticipate an average health insurance cost increase of almost 9% for 2024, marking the highest rise in over a decade.
- Some employers project double-digit increases in health insurance costs despite efforts to manage expenses, reflecting ongoing inflation pressures in the health care sector.
- The Kaiser Family Foundation highlights that rising deductibles and premiums are major concerns for workers as they prepare for the upcoming open enrollment season.
Why It Matters
The anticipated rise in health insurance costs will strain budgets for families and businesses alike, exacerbating financial pressures and potentially leading to decreased access to necessary health care services.