Employers Are Expected to Spend More on Health Care and Wellness in the Next Year:
According to Optum’s Wellness in the Workplace study, more than 80% of employers plan to spend more on health care and wellness in the next year than in previous years.
Wellness Spending: To mitigate rising health care costs, improve attraction and retention, and increase employee well-being, many employers plan to spend more on wellness initiatives in the upcoming year. Specifically, employers plan to focus on mental health initiatives and disease management.
Health Care Spending: The cost of providing employer-sponsored health care has been steadily increasing over the years. According to the Kaiser Family Foundation, the average health insurance premium for family coverage was $19,616 in 2018, with employers paying 71% of that cost. Premiums are expected to continue to increase, which means employer health care spending will increase too.