Few things are more certain in American life than the rising cost of healthcare. In 1969, only 6.4 percent of GDP was spent on healthcare, according to the federal government. In 2019, that figure was 17.7 percent of GDP. Healthcare spending in October 2021 (the most recent month for which data is available) reached 23.9 percent of GDP.
And so while it is a likely bet that costs will continue to rise in 2022, nothing is normal during the pandemic. Cost projections are being made under uncertain conditions due to unexpected Covid-19 surges, unknown long-term impacts of the coronavirus on infected individuals, potential downstream effects of delayed and avoided care, and the ongoing labor shortages in the healthcare sector.
As an employer, what do you need to know about rising healthcare costs and the continuing impact of Covid-19 in 2022 and beyond?
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
