Amid ongoing inflation pressures, employees and employers alike can expect their healthcare costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow by 8.5% in 2024 (to more than $15,000 per employee), nearly double 2023’s figure. In line with those findings, the Business Group on Health’s 2024 Large Employer Health Care Strategy Survey predicts a 6% increase in health care costs in 2024.

The Patient Protection and Affordable Care Act (PPACA), commonly known as Obamacare, levies hefty penalties on employers who do not comply with key provisions of the law.

This year’s open enrollment period presents some unique challenges for employers looking to effectively communicate benefits options to employees. With rising healthcare costs, high inflation, a hybrid workforce split between office and remote settings, and workers facing mounting financial pressures, it is more important than ever for organizations to get open enrolment right.

New research from digital media company Arizent revealed employee benefits leaders’ biggest challenges and strategies for increasing benefits utilization. These findings can help shape employers’ 2024 open enrollment plans.

A recent survey found that 81% of employees want more information about company-sponsored benefits throughout the year, yet 47% don’t know enough to make informed choices during open enrollment. With open enrollment season approaching, human resources teams may want to look at some new strategies to close these communication gaps.

A recent survey found that 81% of employees want more information about company-sponsored benefits throughout the year, yet 47% don’t know enough to make informed choices during open enrollment. With open enrollment season approaching, human resources teams may want to look at some new strategies to close these communication gaps.