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 Q3 2025 edition, we explore rising medical and pharmacy cost projections emerging from Lockton’s 2025 Trend Study.
Contents
Contributors
Shannon Demaree, ASA, MAAA, FCA
EVP, Regional Executive, People Solutions
Jason D'Ambrosio, FSA, MAAA
Actuary
Shealynn Buck, MD
Chief Medical Officer
Nicholas Dobelbower
SVP, Global People Solutions
Todd Hlasney, CEBS, FPA, GBA
SVP, Precision Health Practice
Robert Kordella, RPh
Chief Clinical Officer, Pharmacy Analytics
Shelly Lewis
VP, Director of Actuarial Analytics
Slayton Rous
VP, Growth and Strategy, Stop Loss
Jenae Johnson
Content Strategist, People Solutions
Q2 2025 Market Update recap
With benefit plan costs continuing to rise, as seen in our Q1 Market Update data, plan sponsors are under growing pressure to make plan changes. In the Q2 2025 edition, we explored how employers are responding to the pressured, uncertain landscape and rising costs, based on results from Lockton’s 2025 National Benefits Survey and 2025 Workforce Priorities Survey.
