In 2024, employers will continue to deal with many of the same challenges they’ve faced for several years. Factors ranging from increased healthcare costs to an increased focus on preventive healthcare and health equity will impact employers and employees alike.
Recognizing these trends can help employers respond and help their employees be healthier, happier, and more productive. Here are four employer healthcare trends to watch for in the coming year.
1. Growing urgency to address healthcare costs and affordability
Although the issue of healthcare costs and affordability is not new, the higher rate of increase is a concern for employers. Employers will face a variety of cost pressures from factors including inflation, shortages in healthcare providers, deferred or missed care, costly new treatments and medications, and more. The steady increase in healthcare costs doesn’t show any signs of stopping, meaning employers will need to become more vigilant about managing costs.
2. Focusing on preventive care and chronic disease management
Due to deferrals or missed screenings, many employers are expecting to see a higher rate of chronic diseases and more expensive and late-stage conditions. Prioritizing preventive care is crucial if employers want to mitigate rising healthcare costs. Preventive care, such as regular screenings, is key to maintaining good health and identifying conditions early when they are easier and less expensive to treat. Besides providing important screenings for conditions like cancer, diabetes, and cardiac health issues, employers may also embrace biomarker screenings and genetic testing as more personalized options for employees.
3. Wanting more from their healthcare partners
Employers will be expecting more from their partners in the coming year as they look to address issues ranging from managing costs to improving overall workforce wellness. With the cost of healthcare rising, employers will look to their brokers, insurers, and vendors for solutions. While employers are still working to enhance benefit packages to meet changing needs and attract and retain talent, they will also rethink and reevaluate their plans to find the best programs at the lowest cost. As employers look to narrow down their services and cut inefficient, underutilized benefits, partners will have to prove that their programs can deliver quality care and savings.
4. Using technology to tackle health disparities
The need for more equitable and sustainable healthcare has never been more urgent. Many people around the United States still can’t access the health services they need. Over half of all insurance coverage is employer-provided, meaning employers play a large role in providing access to quality care and advancing health equity . Employers will continue focusing on addressing social determinants of health (SDOH) through their health and wellness programs. Healthcare technology will play an increasingly large role in helping bridge many of healthcare’s most pressing gaps. Employers will look to leverage technology innovations to improve quality and access to care, especially for marginalized and underserved populations.
How LetsGetChecked helps employers
The right healthcare benefits can significantly impact workforce productivity, happiness, and overall well-being. By partnering with LetsGetChecked, you can design a healthcare benefits program that aligns with your organization’s goals and meets workforce needs. Our solutions can help your organization address 2024 benefits trends in practical and cost-effective ways, enabling you to enhance employee satisfaction and retention.