The 20th anniversary of The Sanofi Canada Healthcare Survey, Canada’s premier survey on health benefit plans, brings to light that there is still much opportunity to learn from and improve employee health benefit plans. This year’s survey highlights that barely half (53%) of employees say their health benefit plan meets their needs extremely or very well, down from 73% in 1999 when the question was first asked.
The annual report, which analyses drug spending trends for 11 publicly funded plans, showed a $1-billion spike in prescription drug spending during the 2015-2016 period. That brought total documented expenditures up to $11.3 billion, 79.7% of which was covered by the plans. The rest was paid by beneficiaries either out-of-pocket or through private drug plans.
Mercer, a global consulting company, today predicted that employers’ health benefit costs will increase by 130% by 2025 due to expensive specialty drugs, higher rates of chronic and mental illness, increased fraud and rising health pooling costs.
Later this month, Premier Kathleen Wynne’s government will release a report expected to recommend sweeping reforms to the province’s employment laws. Sick pay is one of the items being reviewed, and advocacy groups are urging the Liberals to mandate seven paid sick days per year for all full-time employees.