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October 2019: Employers Are Expected to Spend More Next Year

Business Insurance

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.

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.

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.

Additional articles from the October 2019 edition of the Univest Employee Benefits Newsletter:

  1. New Jersey Commuter Benefits
  2. Hold on to Talent With Stay Conversations
  3. Preventing Sexual Harassment in the Workplace

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