Many punditscontinuously predict recession, while the economy continues topercolate. Who knows what will happen? (Photo: Getty)

January is the best time to think about the future, and we surehave a whole lot of it to look forward to in the benefits business!Here is a list of six things to think about that will affect ourindustry in 2020 – and beyond:

1. Politics (no surprise)

Health care and nearly everything related to health benefits hasbeen at the forefront of the political debate for over 10 years—and this islikely to continue. Without speculating about potential outcomes,let's say it's incumbent on all of us to continue to monitor whatpoliticians are doing with relation to health-related benefits andto find the places where opportunities will inevitably lie. It'svirtually a full-time job, but it's one that will result in greatopportunity for those who create the right package in response.

Marty Traynor is anOmaha-based consultant in the benefits field.

2. Everybody wants to play health care aggregator

And that includes insurers and big tech companies. There's a big reason forthis. Every day, politicians and headlines are reminding us aboutthe burgeoning expenses related to health care. So, we see healthinsurers merging with pharmacies, grocery stores becoming clinics,and big tech providers forming alliances with hospitals toaggregate and analyze data. None of this is an accident. The AppleWatch has become a health care instrument, and there's no questionthat Apple wants that to grow in the future. Where will this lead?We need to follow trends and help our customers by taking advantageof opportunities.

3. Government regulators

While it seems this may be a duplication of the politics thatheaded this list, politics covers those who want to be in office orcontrol legislation, whereas this represents those who continue topromulgate a myriad of regulations related to benefits. One of themost prominent examples is state paid family leave and paid medicalleave laws. These have a significant effect on income protectioninsurance and also represent an area where employers will continueto need significant compliance-related assistance.

4. Privacy (and lack thereof)

In my November column, I discussed identity theft.That's just one of the many issues related to privacy that touchour business. There is so much personal data captured now that yourgrocery store may actually know more about your health than yourdoctor does. How? You tell your doctor that you're eating low-fatmeats, yogurt and broccoli, but your grocery store knows thatyou're eating lots of cheese twists and bacon. The fact is, one ofthe reasons big tech is getting into health care is they canexploit this kind of data much more effectively than your primarycare physician. They aren't operating under the Hippocratic oath;they're finding ways to maximize your economic value to them.

5. The economy

Many pundits continuously predict recession, while the economycontinues to percolate. Who knows what will happen? I certainlydon't, but it's pretty certain that an economic downturn wouldadversely affect benefits.

6. Businesses and the nature of employment are evolving

Certain employment sectors are changing radically. Examplesinclude the mashup of home delivery and restaurant food, andcontinuing changes in the retail business. The ongoing developmentof robotics and AI is exacerbating the change in employment;meanwhile, there are a growing number of workers in the gigeconomy, contracted non-employee workers and self-employedentrepreneurs. A high percentage of these workers aredisenfranchised from traditional employee benefits. There's a hugeopportunity for those who provide effective benefit options tothese workers.

This is just a sampling of the trends we need to track in thecoming year. No doubt, some of the occurrences will be counter towhat seem like our best interests, while others will appearfavorable. We need to think like sailors: The wind can blow behindyou or against you. By properly positioning your sails, you willmove forward in either situation. So, my advice is to track thesetrends, think about them, and build on your business strengths torespond positively. Your employer and employee customers will thankyou through more and continuing business!

Read more: 

• 5 predictions for the health care and benefitsmarket in 2020
• 3 things every modern benefits brokerageneeds 
• Exploring the future of employeebenefits