Introduction

Lockton’s People Solutions Market Update offers comprehensive quarterly insights on the U.S. market and industry dynamics impacting cost management, employee wellbeing, and benefits strategies. In this Q2 2026 edition, we explore how employers are navigating cost pressure in benefits decision-making with results from  Lockton’s  2026 National Benefits Survey and rapidly shifting dynamics across the pharmacy and stop loss markets.


Contents

Q2 2026 snapshot

Cost remains the top priority for employers, but meaningful change remains limited.

Continue reading

Cost continues to challenge employers

Cost pressure mounts, but action isn't keeping pace with urgency.

Continue reading

Stop loss volatility adds to the complexity

Executing stop loss strategy effectively will require precision amid market turbulence.

Continue reading

Pharmacy pricing is also shifting rapidly

With lower drug prices come lower rebates.

Continue reading

More areas to watch in 2026

AI & GLP-1s

Continue reading

Webcast

Managing health plan risk in a more volatile market

Continue reading

CONTRIBUTORS

Shannon Demaree, ASA, MAAA, FCA, EVP, Regional Executive, People Solutions

Kevin Seelman, EVP, Regional Executive, People Solutions

Suzanne Bach, JD, VP, Senior ERISA Counsel

Chris Bartnik, CLU, RHU, REBC, CLF, CHHC, SVP, Growth & Innovation Leader, People Solutions

Laura Bibb, JD, AVP, ERISA Compliance Attorney

Greg Bigwood, SVP, Regional Leader

Shealynn Buck, MD, SVP, Chief Medical Officer

Joel Cochran, JD, Senior ERISA Attorney

Stephen Galvan, AVP, Solutions Consultant

Stacie Engelmann, SVP, Talent Solutions Principal Consultant

Robert Kordella, RPh, SVP, Chief Clinical Officer, Pharmacy

Rebecca Krauland, VP, HR Solutions

Beth Latchana, JD, SVP, Director of Compliance Consulting

Sarah Lytton, SVP, Director, Clinical Strategy

Ratna Patel, SVP, Pharmacy Operations

Tracy Perez, SVP, Director of Collaborative Consulting

Slayton Rous, VP, Growth & Strategy, Stop Loss

Brandy Saylor, VP, Carrier Consulting

Ellen Verzino, PharmD, RPh, SVP, Pharmacy Consulting Director

Melissa Ward, Business Partner, People Solutions

EDITOR

Jenae Johnson, Content Strategist, People Solutions

Q4 2025 Market Update recap

In the Q4 2025 edition, we explored broader industry forces behind systemwide strain and connected high-cost claims analyses with a full picture of how widespread market pressures are shaping employer plan costs.

Read the Q4 update

© 2026 Lockton Companies. All rights reserved.

Up next: Q2 snapshot

Next page

Page Name

Back Page

© 2024 Lockton Companies. All rights reserved.

Page Name

Next Page