Venteur Statement on 2024 Medical Costs Trends

By Team Orca
Jul 12, 2023

2024 Health Research Institute predicts 7 percent increase in individual and group medical costs

BERKELEY, Calif. (July 11, 2023) - Stacy Edgar, CEO and co-founder of digital health startup Venteur, issued the following statement on the PWC Health Research Institute's 2024 Medical Cost Trends report

"PWC's report forecasts an increasingly grim yet predictable reality for any American who seeks care or picks up a prescription: it's all going to keep getting more expensive. It's essential for patients to start considering now how rising costs could impact the quality of their coverage.   

"As those costs trickle down through insurers and on to the payer, they manifest in any number of ways, including increased premiums or deductibles and copays, a reduction in covered services, or exclusion of certain types of providers or treatments. So as healthcare costs continue to rise this year and next, so too will the cost of choosing the wrong health insurance, underscoring the importance of choice afforded through mechanisms like ICHRAs and legislative upgrades like the CHOICE Arrangement Act.  

"As insurers adapt their plans to offset rising costs, patient choice and plan flexibility will be more important than ever. Every individual's health journey is unique, and the one-size-fits-all employer-sponsored plans simply aren't going to cut it." 

About Venteur

Venteur helps companies offer their employees a selection of personalized, high-quality health benefits that work best for them. Since launching in 2022, Venteur has offered ICHRA solutions that give employees more say so in their own health care options and give employers predictability in their benefits budget and control over costs. Venteur is building a better benefits system that provides the coverage employees want at a price point businesses can afford. For more information, visit https://www.venteur.co/

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