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Employee Benefits

Employer health benefit costs to rise 5.4% in 2024: Mercer

September 08, 2023 Reprints

Preliminary data from Mercer’s 2023 National Survey of Employer-Sponsored Health Plans reveals an anticipated average increase of 5.4% in total health benefit costs per employee for 2024, 401K Specialist reports. Mercer experts point to 2023's high inflation rates and health care labor shortages as contributing factors. While large employers are leaning toward absorbing these increases to ensure health care affordability for employees, smaller businesses face even steeper renewal rates averaging 7.5%.

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Employer health benefit costs to rise 5.4% in 2024: Mercer

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