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Phia CEO says group health renewal habits have not changed
Adam Russo, co-founder and CEO of The Phia Group, attributes renewal cost and outcomes issues to gaps in broker and plan-sponsor use of existing plan data and education tools.
Group health costs are rising, yet many employers will not change anything at renewal, according to Adam Russo, co-founder and CEO of The Phia Group. Speaking with Insurance Business, Russo said the pattern has repeated for 26 years and argued that plan data, member education, and accountability already exist to break the renewal cycle.
Russo pointed to the firm’s 2026 broker survey, which he said found sweeping gaps in fiduciary preparedness and plan visibility. He argued the missing element is less about data access and more about whether brokers and plan sponsors take proactive steps when they meet.
The Phia CEO criticized what happens during the annual renewal process, describing it as a performance of inevitability where premiums rise, copays increase, or benefits shrink.
Russo said he has seen little change in the industry when it comes to identifying small, actionable steps from the broker standpoint that could lower overall costs and improve quality outcomes.