Lockton’s 2026 Global Healthcare Cost Trend Report projects employer medical cost trends staying high in 2026, averaging 10.9% globally (vs 3.7% projected CPI), with many countries in double digits. Key claim drivers remain chronic conditions (cardiovascular, cancer, musculoskeletal, metabolic/diabetes, respiratory), while pharmacy—especially GLP-1s where covered—adds material pressure. Costs are also amplified by rising utilization, overuse/poor plan use (ER for nonurgent care, out-of-network leakage, weak preventive uptake), labor shortages (notably nursing), and a shift from public to private care in strained systems. Employers mostly avoid heavy cost-shifting to employees, instead leaning on broker-led insurer negotiations, targeted plan design tweaks (limits/sublimits, networks, modest copays/deductibles), member education, and longer-horizon wellbeing/prevention plus digital tools (telemedicine, e-claims, AI). The report flags biosimilars, utilization management, and tech-enabled navigation as key levers to protect access while bending trend.

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