PEORIA (25News Now) – Workers who get health insurance through their employers could face higher costs in 2027 as employers continue to navigate rising health care expenses.
Tim Wyman, president of Wyman Group in Peoria, says expensive prescription drugs, complex cancer treatments and other large medical claims are among the factors driving costs higher.
Recent national data from the KFF Employer Health Benefits Survey and major healthcare consulting firms point to employer health care costs increasing around 9% next year, Wyman says some of the employer groups he works with have already seen larger increases this year.
“This year so far it’s been above that,” Wyman said. “We’re seeing employer groups paying anywhere from 15 to 25% as an average.”
Wyman expects increases of around 9% to 12% could continue into 2027, though the actual impact will vary by employer and health plan.
He says employers are evaluating how much of the increased costs they can absorb and how much they may need to pass on to employees. That could affect workers’ premiums or other aspects of their coverage, depending on the plan.
With open enrollment approaching, Wyman encourages employees to carefully compare the options offered by their employers.
He says the plan with the lowest monthly premium is not always the best overall value. Workers should consider which coverage and benefits make the most sense for their individual health care needs and budgets.
As costs continue to rise, Wyman says employees should pay close attention to their available options before choosing coverage for the coming year.
