Employer Healthcare Costs to Rise in 2024, Survey Shows

Healthcare plan premiums unlikely to change for employees at large firms, Mercer says.

stethoscope with red cord shaped like a heart
(Image credit: Getty Images)

Employers expect to see their healthcare benefits costs per employee to rise about 5.4% in 2024 as high inflation, labor shortages and ongoing industry consolidation have pushed up costs, according to preliminary results of a new survey.

The estimated cost increase is more than 2 percentage points higher than the 3.2% increase that employers realized in 2022, according to consulting firm Mercer, which conducted its annual National Survey of Employer-Sponsored Health Plans from June 12 through Aug. 14 with 1,700 employers participating. The final survey results will be released later this year, Mercer said.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.