As we head into 2025, the benefits landscape is poised for significant transformation. While much is still unknown about the incoming administration and the specific changes we may see, a more relaxed regulatory environment could open the door for even greater innovation than we’ve experienced in previous years, empowering employers to tackle longstanding challenges in new and creative ways. However, with these potential opportunities come persistent realities: Rising costs, evolving employee expectations, and the ongoing demand to address shifting compliance requirements.

For benefits advisors, this intersection of opportunity and complexity presents a critical moment. According to PwC’s Health Research Institute (HRI), the medical cost trend for 2025 is projected to reach an 8% year-over-year increase for the group market and 7.5% for the individual market — marking the highest growth in over a decade. Whether guiding clients in adopting cutting-edge funding models, leveraging emerging carrier innovations, or navigating regulatory updates like expanded HSAs or codified ICHRA rules, advisors play an essential role in shaping forward-thinking benefits strategies.