McKinsey June 26, 2025
Amid unprecedented rate hikes and financial pressures, large employers, which account for more than $800 billion in healthcare expenditures, are driving the future of the health benefits market.
Employers are the largest purchasers of health insurance in the United States, representing approximately 165 million lives and more than $800 billion in healthcare expenditures. Large employers—those with more than 10,000 employees—are often innovators when it comes to benefit offerings, shaping the trends that are later adopted by small and medium-size employers. Every year, large employers submit about 300 requests for proposal (RFPs) to health insurance carriers, according to our research. They also account for $16 billion to $24 billion in potential revenue for healthcare partners, including health insurance plans, healthcare professionals,...
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