Benefit Administration Services
Demand for Benefit Administration Services industry services depends on conditions in the labor market and companies' propensity to outsource the administration of their employees' benefits. As corporate profit continued to grow at a steady pace over the past five years, so too did industry revenue. Additionally, the total number of employees in the United States increased at a steady pace over the five years to 2019, leading to increased demand for industry operators' services. Continued corporate profit growth coupled with stable employment markets are expected to underpin industry growth over the five years to 2024. Furthermore, the continued aging of the population will likely further drive growth in demand for industry services with regard to health and medical claims.
This industry comprises 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.
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