HFS Horizons: Employee Benefits Administrators, 2025

The HFS Horizons: Employee Benefits Administrators, 2025 report reflects on the key demand trends by employers and their employees, benefit administrators’ response to the market both in the near term and the longer term, and the adoption of technologies in the delivery and management of benefits.

This study evaluated 24 suppliers at the intersection of four Horizon dimensions: their value proposition (why), capabilities (what), go-to-market (how), and outcomes delivered (so what). It also assessed their ability to address the quadruple aim of care (cost of care, experience of care, health outcomes, and health equity).

Benefits administrators must lead this charge instead of remaining on their heels, tweaking legacy solutions by enabling the latest technologies without impacting the real human outcomes and doing the same old, same old.  

• The HFS Horizons: Employee Benefits Administrators, 2025 report examines the benefits administrators’ role in managing benefits for employers. We assessed and rated the service capabilities of 24 benefits administrators across dimensions, addressing the why, what, how, and so what.
• Our assessment was geography-agnostic for benefits administrators and their clientele.
• This report includes detailed profiles of each benefits administrator or service provider, outlining their Horizons placement, provider facts, and strengths and development opportunities.
• The report focuses on industry-specific capabilities for benefits administrators as defined in our value chain. It does not focus on horizontal IT or business process services, such as application management or finance and accounting outsourcing, which may be delivered to employers.

HFS Horizons: Employee Benefits Administrators, 2025

Note: All service providers within a Horizon are listed alphabetically.
Source: HFS Research, 2025

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