Get the latest tech news

Health care costs are soaring. Blame insurers, drug companies and your employer

Some 154 million people in the United States get health care through their employer — and for many, their costs are about to go way up.

The surging health benefit costs come at a time when consumers are still feeling the hangover of pandemic-era record inflation and are generally uneasy about the U.S. economy. Employers themselves are at the mercy of entities that have even more market power: Drug companies, pharmacy benefit managers, hospitals and others have collectively driven up the costs of accessing medical care in the United States. Beth Umland, Mercer's director of health and benefits research, says that employers have tried to avoid passing on all the recent cost increases to employees, in part to try to retain workers during a tight post-pandemic labor market.

Get the Android app