January 14, 2020 | By Whitney Cwirka

To be a benefits administrator means that you care deeply about the employee experience. You care that employees can easily enroll in the benefits that are right for them, that life event changes like the birth of a child are straightforward for employees to navigate, and that communication and education are supporting all of it.

You know benefits have the power to transform people’s lives, and without benefits, people can experience heavy hardships. Working in this field, you’ve also more likely than not heard stories from your own employees about how their benefits have directly impacted their lives — whether it’s a working, traveling mom utilizing a perk like overnight shipping of breast milk, a Gen Z employee taking full advantage of your company’s 401(k) match, or a pet parent not having to drain their savings to care for a sick fur baby. This is the warm, fuzzy part of carefully crafting a benefit strategy.

But benefit strategies continue to get more complex, and alongside that is a continued rise in healthcare costs. In fact, the average amount spent per employee per year on healthcare has gone from $2,500 to $14,800 over the past decade.1 That spend is not expected to level off anytime soon, either. The medical cost trend is projected to be around 6 percent in 2020, with price and utilization as driving factors behind that growth.2