October 21, 2025

435 words…about a minute read

What’s new:  In the latest episode of On Aon, Vice President of Global Benefits Kathryn Davis and Global Business Development Director of Global Benefits Celine Ng tong examine the findings from two important Aon reports: the 2025 Global Benefit Trends Study and the 2026 Global Medical Trend Rate Report.

The Global Benefits Trends Study highlights how multinational organisations are reshaping their benefits strategies by focusing more on employee value, controlling costs and improving global oversight.

We also spotlight the 2026 Global Medical Trend Rates Report, which details that even as global inflation cools in some markets, health care costs remain under significant pressure and have become a pervasive business challenge.

Experts in this episode:

• Kathryn Davis — Vice President, Global Benefits, Aon
• Céline Ng tong — Global Business Development Director, Global Benefits, Aon

Key Takeaways: 

• Multinational businesses are making employee benefits more meaningful and visible, with a strong emphasis on transparency and providing greater choice.
• Effective governance is a top priority, with businesses using data, engaging senior stakeholders and applying disciplined change management to implement benefit strategies.
• Technology, including AI, is increasingly used to personalize benefits and enhance employee experience, helping businesses deliver greater value.
• Medical benefit cost growth is slowing and may be plateauing globally, but aging workforces are expected to drive ongoing increases in both medical and retirement benefit expenses.

Key Moments:

(1:05) The results of the Global Benefits Trends Survey reveal where employers focusing when it comes to their benefit programs and how they can enhance their programs in the eyes of employees.

(4:22) The Global Medical Trend Rate Report shows a decrease in the topline rate for a second consecutive year, to 9.8%, from 10% last year. But with costs having gone up so much in recent years, what aren’t employers looking at when they look at spend?

(8:12) An aging population has ripple effects throughout a company’s health, wealth and talent strategies. Higher healthcare costs, combined with higher salaried employees mean higher costs overall.

Soundbites:

Céline Ng tong

“Number one, a big strategic focus on how do we do more and how do we enhance the perception of our benefits programs in the eyes of our employees.”

Kathryn Davis

“We may have finally hit the peak in medical trend, or at least that we're starting to plateau on a global level. So maybe (it is) time that we stop hyper focusing on cost containment from just medical inflation.”

Listen for more: The “On Aon” podcast is available on Spotify, Simplecast and Apple Podcasts (iTunes)

More Like This:

2025 Global Benefits Trends Study

The Global Medical Trend Rates Report 2026

5 Data-Driven Ways HR Can Optimize Costs

Building a Global Benefits Identity in an Era of Cost Containment