Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Aon and SFHSS actuaries warn of higher 2024 health-cost trends; board urged to weigh plan design choices
Summary
Aon and SFHSS actuaries told the board labor costs, lingering COVID effects, rising complex-care claims and pharmaceutical innovations are pushing a likely national trend near 7% for 2024; staff warned plan-specific renewals could be higher and previewed Medicare Advantage changes to be discussed June 8.
Aon actuary Mike Clark and SFHSS Chief Financial Officer Iftikhar Hussain gave the board an actuarial briefing on cost drivers expected to influence plan renewals for plan year 2024.
They identified four primary drivers: rising healthcare wages and supply costs that increase provider pricing in negotiations; continuing mental-health and substance-use service utilization;…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
