Companies to spend more on medical care: MMB report

Insurers expect the costs associated with employer-sponsored medical benefits programmes in India to rise by 15 per cent in 2022, the highest in Asia, according to a report by Mercer Marsh Benefits (MMB). The MMB Health Trends report surveys 210 insurers globally, including 74 in Asia, and identifies key trends influencing the future of employer-provided medical benefits. The results show that five countries in Asia experienced higher medical trend rates than the regional average (8.8 per cent) in 2021. India had the highest medical inflation rate of 14 per cent, followed by China (12 per cent), Indonesia (10 per cent), Vietnam (10 per cent), and the Philippines (9 per cent). The report reveals that cancer (55 per cent), diseases of the circulatory system (43 per cent), and Covid-19 (36 per cent) were the top cost drivers of medical claims in Asia in 2021.