Milliman Medical Index estimates 2024 cost of healthcare for American individual is $7,151; cost for family of four is $32,066
21 Mayo 2024 - 8:12AM
Business Wire
Healthcare costs for the average person
increased 6.7% from 2023 to 2024, with pharmacy costs contributing
nearly half of this year’s cost increase
Milliman, Inc., a premier global consulting and actuarial firm,
today announced the release of the 2024 Milliman Medical Index
(MMI), which measures healthcare costs for Americans covered by a
typical employer-sponsored health insurance plan. Healthcare costs
for the average person increased 6.7% in 2024, with pharmacy costs
increasing by 13% and constituting nearly half of this year’s total
increase. Healthcare costs for a hypothetical family of four rose
to $32,066.
“The cost of prescription drugs contributed to about half of
this year’s healthcare cost increase,” says MMI co-author Dave
Liner. “With life-changing and potentially high-cost new drugs and
gene therapies entering the market and drawing much attention,
prescription drug costs should continue to exert upward pressure on
healthcare cost trends.”
"The widely discussed GLP-1s are the biggest contributor to this
year’s pharmacy trend,” said MMI co-author Mike Gaal. “The coverage
for these drugs can be inconsistent from plan to plan, particularly
for weight-loss indications. With increased patient demand and
various patient studies underway, this story is still rapidly
evolving, but there is no denying the impact these drugs have had
on employer-sponsored healthcare coverage in the last year.”
"Looking back at the history of employer-sponsored healthcare
coverage, there’s a recurring theme where certain things aren’t
covered at first and then they eventually become benefits you can
expect,” said MMI co-author Deana Bell. “Health plans contemplating
covering new treatments are weighing the potential ROI against
employee demand, and these decisions are driving much of the
benefit variability.”
“Employers pay 58% of a person’s overall healthcare costs, but
they’d pay 9% more if not for pharmacy rebates,” says MMI co-author
Annie Man. “In the 19 years we’ve been doing this study, the role
of rebates has evolved, which is why we now report our numbers net
of rebate.”
“As the biggest healthcare payer in the country, the federal
government has massive influence even on healthcare it’s not paying
for,” said MMI co-author Jason Clarkson. “The current Medicaid
unwinding may create waves of new enrollees for employer-sponsored
plans as people look to replace their lost Medicaid coverage.”
To see the 2024 MMI, go to
https://www.milliman.com/en/insight/2024-milliman-medical-index.
About Milliman
Milliman is among the world's largest providers of actuarial,
risk management, and technology solutions. Our consulting and
advanced analytics capabilities encompass healthcare, property
& casualty insurance, life insurance and financial services,
and employee benefits. Founded in 1947, Milliman is an independent
firm with offices in major cities around the globe. Visit us at
milliman.com.
About the Milliman Medical Index
Since 2005, the Milliman Medical Index (MMI) has analyzed the
projected total cost of healthcare for a hypothetical family of
four covered by a typical employer-sponsored health plan. To
reflect changing family demographics, the MMI now also projects
healthcare costs for the average person. Unlike many healthcare
cost reports, the MMI measures the total cost of healthcare
benefits, not just the employer’s share of the costs, and not just
premiums. The 2024 report also explores how benefits that may not
be covered by health insurance, such as fertility treatments and
anti-obesity medications, affect U.S. households’ overall
healthcare spending.
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Jeremy Engdahl-Johnson Milliman, Inc. Tel: +1 646.473.3021
jeremy.engdahl-johnson@milliman.com