Lockton vs 
Marsh: How Do They Compare for Employee Health Benefits?
Lockton's People Solutions designs and places employee benefit programs, with support for engagement, plan design, and program management. Marsh McLennan Agency lists group health and other employee benefits and consults with employers.
Lockton fits employers who want external trend data for renewal planning; Marsh McLennan Agency fits employers evaluating stop-loss or captive funding with actuarial and legal support. 1,2
What Are the Key Differences Between Lockton and Marsh Employee Health Benefits?
Lockton reports a 7.7% medical and pharmacy trend for 2025 in its Q3 2026 update; MMA names stop-loss, captive solutions and actuarial support but publishes no matching trend series. 1 2
Brokerage Practices, Not Underwriting
Lockton People Solutions and Marsh McLennan Agency both design and place employee health programs; both reviewed pages describe brokerage and consulting, not the firm as the benefits underwriter. Lockton groups work into employee experience, total rewards design, and program management and measurement. MMA lists named solutions such as group health, absence/disability/life, voluntary benefits and stop-loss. Choose Lockton if your main question is how current market trends frame renewal costs; choose Marsh McLennan Agency if you are weighing stop-loss or captive funding and need actuarial or legal support. 1 2
Cost Commentary Versus Named Funding Tools
Lockton publishes a quarterly People Solutions Market Update with U.S. health-plan cost data; the Q3 2026 update reported 2025 medical and pharmacy trend at 7.7% after 8% the prior year. MMA’s reviewed page does not publish that trend series. MMA does name Captive Solutions, stop-loss solutions and actuarial services to measure financial exposure. Lockton’s reviewed page does not name captives or stop-loss as products.
MMA lists group health, absence/disability/life insurance, voluntary benefits and stop-loss solutions for self-funded employers among the programs it helps design and place, alongside non-insurance services like compliance support and pharmacy benefit consulting. 2Company-reported. MMA employee health and benefits page, Our Solutions section; a catalogue of services, not a specific plan's terms.
How the Engagement Starts
MMA says consultants assess the business, cross-reference demographics and survey data, and match needs and budget to market plans. Lockton’s reviewed page does not describe that survey-led matching or an online quote. Neither page names the insurers whose plans they place. 1 2
What Should You Confirm in Lockton and Marsh Employee Health Benefits Quotes?
- Ask Lockton how the published 7.7% trend would be used in your renewal model. 1
- Ask MMA whether stop-loss, a captive or fully insured group medical is the structure it would market. 2
- Compare Lockton’s three People Solutions workstreams with MMA’s actuarial, pharmacy and legal-compliance services. 1 2
- Get medical and stop-loss carrier identities from both. 1 2
Lockton vs Marsh Employee Health Benefits Compared
Lockton vs Marsh: Employee Health Benefits: documented features by provider
| Criteria | Lockton People Solutions Employee Benefits Brokerage | Marsh McLennan Agency Employee Health & Benefits |
|---|---|---|
| Coverage Features | Lockton publishes a quarterly People Solutions Market Update with U.S. health-plan cost data; its Q3 2026 update reported 2025 medical and pharmacy trend at 7.7% year-over-year, following 8% the year before. 1Company-reported. People Solutions page as read 2026-09-23. Cost-trend figures are company-reported market commentary, not a specific client's premium. | MMA lists group health, absence/disability/life insurance, voluntary benefits and stop-loss solutions for self-funded employers among the programs it helps design and place, alongside non-insurance services like compliance support and pharmacy benefit consulting. 2Company-reported. MMA employee health and benefits page, Our Solutions section; a catalogue of services, not a specific plan's terms. |
| Role in This Line | Lockton's People Solutions practice designs and places employee health and benefit programs; the reviewed page describes brokerage and advisory services, not Lockton acting as the benefits underwriter. 1Company-reported. People Solutions page as read 2026-09-23. The page URL for this line moved from the 'employee-benefits' path cited on Lockton's provider record to 'people-solutions'. | Marsh McLennan Agency (MMA) is an employee benefits consulting and brokerage practice: it says it helps translate a client's business goals into a benefits plan, negotiates with carriers, and does not itself insure the plans it places. 2Company-reported. MMA employee health and benefits page. |
| Risk Services | Lockton describes three service areas for employee benefits clients: employee experience and engagement, total rewards and benefits design, and program management and measurement, aimed at balancing talent attraction and retention against cost control. 1Company-reported. People Solutions page as read 2026-09-23. | MMA lists a range of services beyond placement, including actuarial services to measure financial exposure, compliance support and oversight from its legal team, HR technology consulting, and Captive Solutions, an alternative risk tool MMA says limits stop-loss policy volatility for its clients. 2Company-reported. MMA employee health and benefits page, Our Solutions section. |
