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2021 Health Care Costs Projections

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Employers expect a moderate health plan cost increase next year of 4.4 percent, on average, compared to this year, according to early results from HR consultancy Mercer's National Survey of Employer-Sponsored Health Plans 2020.

The increase, based on 1,113 employer responses since early July, is marginally lower than a recent forecast by the nonprofit Business Group on Health, which in August expected a 5.3 percent increase in health plan premiums for 2021. But Mercer's projection is within the broad range of 4 percent to 10 percent forecast by consultancy PwC's Health Research Institute over the summer.

Mercer projects that 2020 will end with a 3.3 percent health benefit cost increase, which is still largely in line with the average annual cost growth over the past several years. Still, health benefit cost growth is now far outpacing the consumer price index and wage growth, both of which have slowed significantly.

Read the rest of the article:
Moderate Cost Increases Projected for Health Benefits in 2021
SHRM | Oct 2020

Articles

Health Plan Cost Trend Survey by Segal Reveals Impact of COVID-19 Public Health Crisis
Segal Co. | Oct 2020

Coronavirus outbreak is already upending health insurance premiums and copays for next year
CNBC | Jul 2020

Employers Project Health Plan Costs Will Rise 5.3% for 2021
SHRM | Aug 2020

Forecasters Revise Outlook for Higher Health Plan Costs
SHRM | May 2020

Research
Some reports require free registration to download.

Global Medical Trends Report
(The survey report is generally published in October.)
Aon

Various Health Care Costs Surveys
Kaiser Family Foundation

National Survey of Employer-Sponsored Health Plans
(The survey report is generally published in September.)
Mercer

2021 Large Employers' Health Care Strategy and Plan Design Survey
(The survey report is generally published in August.)
Business Group on Health

Medical Cost Trend: Behind the Numbers 2021
(The survey report is generally published in June.)
PwC

2021 Medical Plan Cost Trends Similar to Pre-COVID-19 Levels
(The survey report is generally published in September.)
Segal Consulting

2021 Global Medical Trends Survey Report
(The survey report is generally published in October.)
Willis Towers Watson

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