Understanding Medical Trend and the Impact on Employer Health Plan Renewal Rates

August 22, 2023

Currently, healthcare costs in the United States are high and rising, outpacing inflation and wage increases. While many employers had relatively lower claim costs during the COVID-19 pandemic, medical plan costs are approaching pre-pandemic levels as healthcare utilization rebounds. Other factors like inflation, specialty and novel prescription drugs, new medical technology, catastrophic claims, and consolidation among hospitals and providers have contributed to healthcare cost increases.

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