As 2026 approaches, a new wave of rising healthcare costs is expected to impact millions of employees covered by employer-sponsored insurance plans. Recent surveys indicate that employers are bracing for an average increase of 6% to 9% in health benefit expenses next year—the steepest rise seen in over a decade. This increase is largely driven by soaring prices for specialty drugs, particularly GLP-1 medications used in diabetes and obesity treatment, as well as the continued high costs of cancer care and mental health services.
Sadly, many employers are planning to manage these rising costs by shifting a greater share of the financial burden onto employees. This means workers may face higher monthly premiums, deductibles, and copayments in 2026. Around 59% of employers surveyed intend to make such cost-saving changes to health insurance plans, reflecting a notable rise from prior years.
While employers strive to absorb as much of the cost increase as possible, the reality is that employees will likely have to shoulder more out-of-pocket expenses. Employers are also expanding preventive care offerings and mental health benefits in an effort to mitigate health risks and long-term costs. However, the challenge remains to balance affordability with access to necessary care.
For employees, it’s more important than ever to review healthcare plans carefully during the open enrollment period, understand potential out-of-pocket responsibilities, and explore wellness programs that may help reduce medical expenses. Staying informed about these changes helps individuals better prepare financially and make informed healthcare decisions.
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