Don’t Wait Until Renewal: Why Benefits Benchmarking Should Happen First

Posted by Brian Honan on February 23, 2026 in Human Resources

Most employers evaluate their employee benefits strategy once a year — when renewal arrives. Premium increases are presented. Contribution strategies are reviewed. Plan design adjustments are discussed. But by the time renewal hits your inbox, the story has already been written. Renewal reflects a year’s worth of cost trends, claims activity, utilization patterns, and funding performance. The increase itself may be new — but the underlying drivers have been developing all year long. That’s why benchmarking before renewal can fundamentally change the conversation. Renewal Is the Result — Not the Strategy Healthcare cost pressures build continuously throughout the plan year: * Medical claims accumulate * Pharmacy spend fluctuates * High-cost claimants impact loss ratios * Demographics shift * Utilization patterns evolve When renewal arrives, carriers price based on this experience. At that point, many employers are reacting rather than strategically positioning themselves. Evaluating your market position before renewal allows...