VIDEO: Legal Updates of American Rescue Plan Act

Prescription drugs continue to be a primary driver of employer-sponsored health care costs. Last year, per-employee costs jumped 5.2 percent, and prescriptions remain the fastest-growing plan expense, according to the 2023 National Survey of Employer-Sponsored Health Plans.

The Affordable Care Act requires employers to provide their group health plan participants with access to both a summary of benefits and coverage that details the features of their health plan and a glossary of commonly used health care terms (such as balance billing, preauthorization and non-preferred provider). Access that glossary—including an explainer of how deductibles, co-insurance and out-of-pocket limits work—easily online.

Demand is growing for supplemental health and financial benefits – so much so that by 2026, enrollment in voluntary benefits is expected to be up 20 percent, according to The Council of Insurance Agents and Brokers.