Study: More Than 80% of Employers Anticipate Higher Health Costs in 2020

OMA Connections Partner One Source Advisors cites a new national study that finds more than 80% of employers plan to increase their spending on health care and wellness in the next year. The average health insurance premium for family coverage was $19,616 in 2018, with employers paying 71% of that cost, according to the Kaiser Family Foundation. To help mitigate rising costs, many employers plan to spend more on wellness initiatives.

One Source Advisors also reports that Medicare Part D notices are due by Oct. 15. Employers should confirm whether their health plans’ prescription drug coverage is creditable or non-creditable and prepare to submit their Medicare Part D disclosure notices before the middle of the month. Direct questions to One Source Advisors. 10/1/2019