The WSJ expects healthcare costs to rise by more than 6% in 2024. Is your finance team going to keep plans the same and absorb the costs, or adjusts plans?
Absorb costs and keep plans the same67%
Adjust plans33%
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A combination of both.
We are trying to be very sensitive to adjusting the plans, would not want the EEs to feel the brunt of the costs increase and therefore will absorb most of the costs.
Finance, HR and outside benefit vendor work very closely to negotiate with providers and strike the right balance when it comes to sharing the costs between EEs and the org.