With fraud prevention month underway, just how big of a problem is the issue for plan sponsors? “As an industry, we estimate that benefits fraud is costing . . . hundreds of millions in terms of the impact, so certainly not a small problem,” says Karen Voin, vice-president of group benefits and anti-fraud at the Canadian Life […]
The hepatitis C hump is over. Since 2014, Health Canada has approved several promising medications for the disease. While the direct-acting antivirals offer cure rates of more than 90 per cent, they cost tens of thousands of dollars, and benefits plans felt the pinch. But now, “after an initial spike in treatment requests, claims have […]
Saskatchewan’s announcement that it’s reinstating its provincial sales tax exemption for life and health insurance premiums is welcome news for plan sponsors in the province. Debra Wiegers, a benefits consultant and head of the group benefits division at Saskatoon-based Wiegers Financial & Benefits, says calculations conducted by some of her employer clients show savings of between […]
Alberta Blue Cross is reducing its rates for dental benefits to align with recent changes to Alberta’s dental fee guide. The new fee guide, which took effect on Jan. 1, 2018, provides for an 8.5 per cent cut in suggested prices for 60 common procedures. Group benefits plans provided by Alberta Blue Cross that refer to usual and customary dental […]
A proposed guideline setting out standards for the disclosure of intermediary compensation in group benefits and retirement services could have a big effect on the market. Dave Patriarche, president of Mainstay Insurance Brokerage Inc. and founder of Canadian Group Insurance Brokers Inc., is supportive of compensation disclosure and says the Canadian Life and Health Insurance Association’s new guideline makes […]
The average cost increases for employer-sponsored health-care plans are set to increase at a faster rate than inflation in 2018, according to a new report by Aon. Global average cost increases are projected to be 8.4 per cent in 2018, nearly three times the projected rate of inflation of 3.1 percent. Results vary depending on region, with […]
Digital human resources company Rise People Inc. is launching a national partnership program that allows it to offer its integrated human resources, insurance, group benefits and pension product through consultants and advisory firms across Canada. The company noted it aims to combine its technology expertise with advice from consultants, such as Granville West Group in Vancouver; Davis Benefits […]
Great-West Life Assurance Co. has partnered with digital health-care provider Dialogue to offer its virtual health-care platform as part of its group benefits plans. The platform, which can be accessed through a mobile app or website, is open to employers in Alberta, British Columbia, Nova Scotia, Ontario and Quebec. The insurer says the impetus for the pilot was the need […]
On occasion, I’ve been critical of the group insurance business. I’ve used the term lethargic to describe the pace of change and have been critical of what I thought was a far too rigorous embrace of the status quo. There has been some innovation over the years, but it has paled in comparison to the […]
It may be fun for an architect to moonlight as a freelance photographer, but few people want a job title that’s full of slashes, whether as a social media manager/babysitter/barista or a substitute teacher/tutor/Uber driver. Many workers don’t have a choice, however. “In Canada, one of the things we see is employers moving away from […]