December 05, 2014
What does it take to make an employee benefits plan work? Are there companies that are "doing it right"? If so, what does it look like?
The truth is, different companies have different employees, and therefore require different plans to meet different needs. That said, there are a few best practices which, if a company can meet them, is a pretty good indication that they are, in fact, "doing it right"....
November 18, 2014
Most of the costs incurred by typical benefit plans in Canada are related to payments for losses arising from death, disability and drug expenses, as well as dental care. Recently, dental care has seen high single-digit increases that have been greater than the overall escalation in drug costs, and in some cases outpacing the average increases in combined healthcare cost.
What is causing the increase in dental care expenses? For one,...
October 23, 2014
The current workplace is a unique mix of generations that are no longer interested in the same benefits from their employers. Between aging baby boomers, the Gen-X sandwich generation raising kids and caring for elderly parents, and young tech-savvy Gen-Ys, smart employers will need to customize their benefits if they want to stay relevant to employees of all ages.
Not too long ago, group benefits were fairly standard: traditional...
October 17, 2014
More than any other time in history, Canadians are experiencing incidences of diabetes, cardiovascular disease and cancer, which continue to rise every year. According to Statistics Canada, between 1999 to 2009 the prevalence of diagnosed diabetes among Canadians increased by 70%, due in large part to being overweight or obese.
That said, 50% of the factors that determine our health are controllable behaviours, according to the US...
September 17, 2014
What does the future hold for benefits sponsors and their employees? Over the next five to ten years, you can expect to see numerous changes in the benefits landscape - talent shortages, extended life expectancies, increased costs, technology innovations and preferences, generational differences and government cost-shifting will drive change. Employers need to be proactive and creative while responding to consumer demands.
August 28, 2014
Benefits including extended health and dental coverage are important in attracting and retaining employees, and extending those benefits into retirement can be a major draw for talented individuals. Yet a survey of 225 Canadian employers found that 44% do not offer retiree benefits, and an additional 10% have closed their programs to retirees going forward.
The primary reasons for not offering benefits to retirees were high program...