Healthcare costs have ballooned 76% over the past decade, and Marsh McLennan Agency Senior VP Marybeth Gray is urging employers to treat benefits planning as a finance priority — not just an HR one. Speaking at the CFO Leadership Council's fall conference in Colorado, Gray laid out a clear message: waiting until summer to plan next year's benefits is already too late.

Gray's three-part playbook centers on early action, smarter targeting, and embracing innovation. She advised companies to start 2028 benefits planning in January 2027, noting that "choosing not to act is actually a decision." On the cost-driver front, she pushed back on the popular notion that wellness programs are the answer — pointing out that the employees who participate aren't typically the ones driving costs. Instead, she recommended focusing on high-cost claimants with chronic conditions like diabetes through auto-enrollment in disease management programs.

Finally, Gray highlighted the untapped potential of genomic and pharmacogenomic testing to catch health risks early and optimize medication choices — tools she argued are underutilized in most benefits packages.

Key Takeaways:

• Start benefits planning 12–18 months in advance; June is already "implementation time"
• Wellness programs have limited ROI — target chronic disease management for high-cost claimants instead
• Genomic and pharmacogenomic testing can reduce long-term costs by catching risks early and personalizing treatment

Why it matters: As healthcare costs continue to outpace inflation, employers face mounting pressure to rethink how they structure benefits. Gray's framework offers a practical roadmap for finance leaders looking to protect both their workforce and their bottom line.