The state of today’s health care economy
Ford Koles, vice president and national spokesperson for Advisory Board, offers his insights on the health care economy and its impact on employers.
$6.8 trillion. That’s an estimate of how much health care spending is expected to rise by 2030.1 In fact, 7 out of 10 employers expect moderate to significant increases in their health care costs over the next 3 years, according to a recent Willis Towers Watson study.2 So, it’s no wonder that almost 2 out of 3 employers are struggling to manage health care costs for their organizations.3
“There’s a lot of frustration with the uncontained inflation in health care,” says Ford Koles, vice president and national spokesperson for Advisory Board. “The only thing this inflationary in our economy other than health care is higher education.”
But he adds, employers are reluctant to pass along costs to their employees. Rather, they’re looking to find care opportunities that are lower cost without sacrificing quality. Check out Koles’ insights on the health care economy and its impact on employers: