Healthcare is among employers' chief concerns heading into 2021, as medical and benefit costs continue to strain business growth.
The Pacific Business Group on Health, a nonprofit organization focused on moderating healthcare costs, outlined three key healthcare challenges employers face right now in a Nov. 6 blog post. They are:
1. High drug prices. Employers view prescription drug costs as among their top concerns. During a recent post-election webinar poll from the PBGH, 71 percent of employers said they thought prescription drug pricing reform should be one of the federal government's priorities for 2021.
2. Surprise billing. Employers continue to view surprise billing as a policy priority. While there is bipartisan support to pass legislation that would eliminate surprise billing, the approach to making this happen has caused a stalemate in Congress.
3. High benefit costs. As healthcare benefit costs rise, employers are forced to rethink their investments and hold down wages. The COVID-19 pandemic has only exacerbated this issue, as newly unemployed workers lost their health insurance, and many employers face increases in benefit costs for 2021.
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