December 04, 2013
Burnaby, BC, December 3, 2013 – Hub International Limited, a leading global insurance brokerage, is pleased to announce that Tina Osen, Chief Executive Officer, Hub International Insurance Brokers, Greater Vancouver operations, has been named to the list of the Women's Executive Network’s (WXN) 2013 Canada's Most Powerful Women: Top 100 Awards.
The awards will be presented Wednesday, December 4th at the Sheraton Centre Toronto during the Women’s...
November 28, 2013
Many employers who sponsor drug plans are having a tough time getting the associated costs under control, and some of the solutions can seem complicated and overwhelming. The world of prescriptions drugs is certainly complex, with new drugs constantly entering the market while employees age and develop illnesses. Inaction is often the reaction of plan sponsors, but tackling the costs associated with drug plans doesn't have to be a painful task,...
November 27, 2013
According to the IMS Brogan Private Drug Plan Drug Forecast, the overall annual growth rate of private market drug costs will likely be in the range of 1.6% to 2.8% between 2013 and 2017. A few key findings of the report include:
Brand patent loss and generic pricing reform will continue to have the largest impact on private plan drug costs, offsetting the cost of new medicines entering the market, and the impact of aging.
Costs for new...
November 18, 2013
Some of the benefits that have traditionally been offered by companies may not necessarily be the ones that employees want, or will want in the future. While benefits such as critical illness and AD&D have their place, the demand for them does not appear to be as great as others.
In 2011, a global survey conducted by Mercer called Making Smart Benefit Choices explored what is on the minds of employees with respect to their benefit plans and...
November 14, 2013
Traditionally, drug cost management has typically meant reductions in coverage for plan members in the form of lower co-insurance, increased deductibles, dispensing fee caps, etc. It wasn’t so much cost management as simply cost shifting from employers to employees.
Over the past couple of years, insurers have introduced several innovative initiatives to manage costs for both plan members and plan sponsors, most of which do not require unpopular...
November 13, 2013
Absenteeism cost the Canadian economy more than $16 billion last year, averaging 2.4% of a company's gross payroll.
However, according to a Conference Board of Canada report, creating an effective disability management program can help mitigate those costs. Some elements of successful programs include:
A rigorous health promotion component
An effective health and safety program that focuses on preventing workplace injuries
A commitment to the...