What Employers Can Learn from the Bupa Global Healthcare Insights & Trends Report 2024
The Bupa Global Healthcare Insights and Trends Report 2024 provides a timely snapshots of the international private medical insurance (IPMI) market in 2024 — and the pressures, trends, and opportunities employers need to know about as they plan for the future of their staff wellbeing strategy.
At One World Cover, we’ve pulled out the most relevant findings for employers, particularly those managing multinational workforces or offering expat healthcare coverage. We’ve also included commentary on how these insights translate into action.
Medical Inflation and Utilization Are Driving Premiums Up
Medical inflation is expected to remain elevated, driven by:
- Clinical staff shortages
- Disrupted global supply chains
- Rising costs of new drugs and technology (e.g. gene therapy, cancer treatment)
- Ageing populations and chronic disease burden
Bupa Global reports a 67% increase in total claims volume and a 39% rise in claims per member since 2021. Outpatient usage — particularly for musculoskeletal and mental health — is a major factor.
>> What this means for employers Health insurance renewals are getting more expensive not just due to insurer pricing but because your employees are using their plans more — and differently — than before.
Corporate Claims Are Increasing in Frequency (More Than in Severity)
Bupa’s data clearly separates Individual vs. Corporate/SME claims trends:
- Corporate/SME: Rising costs are driven by frequency of outpatient claims — especially for MSK and mental health.
- Individual: Rising costs are driven by severity, particularly cancer and complex treatments delayed by COVID.
>> One World Cover Insight If your team’s shift to hybrid work has led to more back pain, ergonomic injuries, or mental health needs, you’re not alone — but you can act on it. Early intervention, access to virtual care, and better communication of benefits are proven cost-saving levers.
3. The Future of Healthcare Comes at a Price
Bupa Global highlights growing demand — and associated costs — for:
- Gene and cell therapies
- Precision medicine and diagnostics
- Fertility and women’s health support
- Complex cancer and cardiac care
Some new treatments such as CAR-T therapy cost over US$1.5M per patient.
>> What to do Re-evaluate the structure of your benefits. Are you covering everything, or are there areas where a more tiered, flexible, or pre-authorized approach would make sense?
Global Mobility Is Back — But Different
International work is growing again — but now includes:
- More short-term assignments
- Rising demand from digital nomads
- Medical tourism is re-emerging (especially in Europe)
Companies are also switching from traditional expat packages to locally based contracts, adjusting how healthcare is structured.
>> One World Cover Insight If you’re managing globally mobile employees, you need a benefits strategy that can flex with relocation timelines and locations — and that includes insurer networks and regionalized support.
Digital Healthcare Expectations Are Rising
Bupa reports a 29.5% increase in usage of their Global Virtual Care platform. Employees now expect:
- Virtual GP consults
- Seamless self-service apps
- Second opinions and prescription delivery
- Integrated EAPs and wellbeing tools
>> Action point for HR Ensure your health insurer is providing (and promoting!) digital access. If the tools exist but employees aren’t using them, that’s a missed opportunity.
Mental Health Claims Are Surging
Mental health claims are up 126% since 2021. Musculoskeletal claims are up 59%, and respiratory claims (post-COVID) are up 127%.
>> What to do These are all treatable and manageable conditions — if caught early. Promote access to:
- Telehealth
- EAPs
- Physiotherapy
- Ergonomic education
- Preventive screenings
What Employers Can Do Now
1. Audit claims by category (musculoskeletal, mental health, outpatient)
Use your insurer’s claims data to understand what’s driving costs — and tailor your HR communications accordingly.
2. Promote underused services
Most companies are already paying for virtual care, second opinions, and EAPs. If usage is low, that’s a communications issue — not a budget one.
3. Explore flexible benefit design
Tiered networks, deductibles, voluntary benefits, and virtual-first plans are increasingly relevant. A well-designed plan doesn’t have to mean more cost — just smarter structure.
How One World Cover Helps
At One World Cover, we specialize in helping organizations:
- Benchmark their claims vs. market norms
- Restructure plans for cost control without cutting care
- Increase utilization of digital tools and EAPs
- Guide staff toward lower-cost, higher-outcome pathways
We also provide custom claims data dashboards, staff-facing explainer content, and direct insurer negotiation support.
Want to review your group’s claims performance or see how your benefits stack up? Get in touch — we’d be happy to help.
To learn more please get in touch: [email protected] or click here to contact us.
