Small and mid-size employers appear to be bearing the brunt of healthcare cost increases.
Last year, healthcare costs rose 7.3% on average to $3,341 per worker (up from $3,113 the previous year) according to a recent study by Thomson Reuters.
But large businesses (those employing at least 50,000 people) only saw an increase of 5% (down from 5.8% the previous year).
Meanwhile, small and mid-size employers got hit with 9.8% and 10% increases respectively.
That’s much higher than the 5% jump for small employers in 2008 and the 6.5% increase among mid-size companies that same year.
The study counted small businesses as those that employ less than 5,000 workers and mid-size businesses as those that employ 5,000 to 50,000 people.
- Despite fewer hospital visits and prescriptions, the study revealed medical and pharmaceutical spending increased, and
- Higher prices and increased use sparked an 8.7% climb in outpatient costs.
Do these figures match what your company is seeing? Let us know in the Comments Box below.