Mercer Marsh Benefits’ 2018 Medical Trends Around the World surveyed 225 insurers across 62 countries. The survey indicates that employers have an opportunity to better manage healthcare costs and improve outcomes for their people. According to insurers, only 14% of companies are offering to a very large extent preventive lifestyle programs for staff. While mental health is now cited as the third highest risk factor, employers are not responding effectively with close to 40% of insurers indicating that employer medical plans provide no access to personal counselling. Employers are encouraged to adopt a whole system approach to wellbeing, in which mental health is recognized alongside physical health, as one of the essential building blocks to help employees fulfil their potential.
Furthermore, given the expectations of today’s workforce for a seamless consumer-grade digital experience, employers and insurers will need to invest in digital and data capabilities with 1 in 6 insurers currently providing no digital claim capability today.
John Deegan, Senior Partner, Mercer Marsh Benefits said, “As health care costs become more material (outside the US), employers are questioning the intent and design of programs. Given the digital health revolution underway, we are seeing progressive employers redefine health and benefit principles and question traditional medical insurance designs, many of which were based on receiving crisis treatment in a hospital setting. And while it originated in the US, the rapid evolution towards value-based care where providers are paid based on outcomes instead of fee-for-service, demands innovation from the insurance community.”
“Health insurance is set for significant changes that will benefit clients,” said Andrew Perry, Managing Director, Mercer Marsh Benefits. “The Medical Trends Around the World research validates our thinking that there is a race within the insurer community to collect and use patient data more effectively. If progress is made in this area, it will help companies better address the needs of their employees and achieve the larger goal of a more affordable, quality-focused healthcare system for all.”
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