Mercer Marsh Benefit’s health trends report has unveiled the latest trends that are driving the future of employer-provided healthcare and how business leaders can manage the costs and risks amidst a changing world. The survey of 210 insurers across 59 countries discovered that the number of claims and the global medical trend has increased by 9.5% on average and by as much as 10% in Asia Pacific, suggesting that employers should brace themselves for increased renewal premiums to compensate for the volatility.
The report also notes COVID-19 as well as emotional and mental risks as the top influencers of employer-provided medical costs with two in three insurers expecting to cover inpatient COVID care in 2022. However, cardiovascular risk along with cancer and circulatory diseases remain the top areas that influence sponsored group medical costs. It is important that HR and leaders take preventative actions and encourage employees to continue with preventative lifestyle changes and self-care measures in order to mitigate potential health risks.
When it comes to providing access to mental health prevention, management and treatment as part of their insured medical plans, businesses in Asia provided the least adequate resources with almost a third stating they did not provide any plans that covered mental health services. Meanwhile, only 34% of businesses cover outpatient treatment costs and only 21% provided access to preventive measures such as resilience or mindfulness coaching. It is vital that businesses develop a mental health strategy for their workforce, one that not only supports those off sick but also enhances their overall well-being.
As DEI becomes a hot topic within organisations, so too does its influence begin to extend into the insurance space. The report highlights that health equity in medical plans is becoming a growing priority and with up to 30% of insurers making changes to facilitate more inclusive medical plan designs. Changes include enabling access to doctors who share the same gender, ethnicity and background as the employee as well as enabling more inclusive access for LGBT employees such as allowing partners of the same gender to be named on medical plans.
Paul Arkwright
Publisher
