Benefit Administration Services
Operators in the Benefit Administration Services industry assist organizations with establishing, maintaining and managing their employees' benefits. Demand for industry services depends on conditions in the labor market and companies' propensity to outsource the administration of their employees' benefits. IBISWorld expects industry revenue to increase over the five years to 2018, as employment and corporate profit increased, boosting demand for industry services. Additionally, an increase in the number of insured individuals caused by healthcare reform also benefited the industry. Continued corporate profit growth coupled with stable employment markets are expected to underpin industry growth over the five years to 2023.
This industry is comprised of companies that provide third-party administration and management services of employee benefit plans, including health and welfare, pension and workers’ compensation plans.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.