Open enrollment season is approaching. Here's what we're watching as employers finalize their 2025 benefits.
Cost Dynamics
Healthcare costs continue their upward trajectory:
- Renewals running 6-8% for most employers
- Specialty pharmacy driving outsized share
- GLP-1 coverage decisions creating cost uncertainty
- Provider labor costs still flowing through
Employers are balancing cost management with competitive pressure.
GLP-1 Coverage Decisions
The biggest wildcard this enrollment season:
- Employers finalizing coverage policies
- Wide variation in approaches (full coverage to exclusion)
- Employee expectations often exceed coverage
- Cost projections highly uncertain
How employers communicate GLP-1 decisions will affect employee satisfaction.
Mental Health Focus
Mental health benefits continue to expand:
- EAP enhancements
- Telehealth mental health access
- Digital mental health tools
- Manager training and cultural initiatives
Employers below market on mental health will hear about it from employees.
Plan Design Stability
We're seeing relative stability in core plan design:
- Deductibles holding steady
- Coinsurance largely unchanged
- Out-of-pocket maximums modestly increasing
- HDHP adoption continuing but slowly
Major plan design changes are less common than cost management tweaks.
Communication Emphasis
Employers are investing more in enrollment communication:
- Total compensation statements
- Decision support tools
- Multi-channel outreach
- Year-round benefits education
Helping employees understand and use their benefits is getting more attention.
What to Watch
Key questions this enrollment season:
- How will GLP-1 policies affect enrollment and satisfaction?
- Will cost pressure drive more employers to HDHPs?
- How will mental health benefit changes be received?
- Will communication investments improve enrollment quality?
- What will 2025 renewals signal about future cost trends?
The answers will shape benefits strategy for the next year and beyond.
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