Well, it looks like I stepped into a(nother) battle in an attempt to ensure that the insurers provide correct information to the industry and specifically, to brokers and our clients.  Only by pushing to get the right information, can we ensure that clients get Fair Pricing of their insured benefit plans, that is our goal.

I hesitated to share this industry article, wondering if clients would be interested, but an associate  encouraged me to do so because…

I think it’s about reminding folks about the value of ‘truth, transparency and trust’ in a world where there is way too much fake news and fabricated ‘fact’ which is not really fact at all, but rather a convenient repositioning of statistics that are actually not at all relevant (the point you make about premium vs claims).  – Howard Kettner – Benefits Genius

Dave Patriarche, President of the group insurance firm Mainstay Insurance, has taken issue with the comments made by the Canada Life and Health Insurance Association (CLHIA) critiquing a recent report on rising drug claim costs.

Patriarche argues that the critique of the report published by Innovative Medicines Canada (IMC) lacks transparency. He says he wanted to set the facts straight in response to the comments by CLHIA President Stephen Frank.

READ MORE

If an employee receives a letter from Canada Revenue Agency (CRA) saying they are reviewing their benefits, it could just be a routine check.

CRA says they send hundreds of thousands of these letters each year to ensure that people get the proper benefits they are entitled to.

Benefits being reviewed? Here’s what you need to know

How will I know my benefits are being reviewed?

You’ll get a letter and questionnaire from us. This letter will ask you to provide information so we can check to make sure the benefits or credits you’re receiving are correct.

READ MORE

I know there has been an overwhelming amount of information on the impending legalization of Cannabis, but as I see interesting articles geared to employers I am going to pass them along in preparation for the October change in order to help you get prepared.

We held a seminar earlier this year and one of the handouts was a sample “Workplace Substance Management Policy” that may be helpful as you write your own policy.  If you are a Mainstay Client and have taken advantage of the FREE HR RESOURCES that we have made available, there is also an IMPAIRMENT & SUBSTANCE DEPENDENCY POLICY in the employee benefit booklet template.  if not

On June 20, 2018, the Government of Canada passed Bill C-45, the Cannabis Act, which will, among other things, legalize the recreational use of cannabis. The Cannabis Act will come into force on October 17, 2018. Employers must be aware of the implications that the legalization of recreational cannabis may have on its workplace and be ready to act proactively.

READ MORE

Each year we discuss cost trends of where our clients OVERALL premiums have been, and where we see them going.  In fact we share these in our April newsletter each year and include the averages on our website.  Our average unweighted increase over the past 15 years has been about 4.2% and that includes inflation, trends AND the aging of our groups.

We know that insurers use MUCH higher trend numbers for their calculations, but we work hard to ensure that your actual trends are better reflected the final rates you pay.

This article more accurately reflects what we are seeing and the lack of transparency mentioned, has never been a bigger challenge.

Between 2012 and 2016, Canada’s total private drug claims market increased by a 4.7 per cent compound annual growth rate, according to new research by Innovative Medicines Canada.

READ MORE

The Trends in HR report from Morneau is out.  A short summary from Pension and Benefits Monitor
is included below as well as the full report.  This is a Canadian employer survey so can be seen as a rough benchmarking tool.

Employers in Canada are expecting salaries to rise by an average of 2.6 per cent in 2019, says Morneau Shepell’s annual survey of ‘Trends in Human Resources.’ This is consistent with the actual 2.6 per cent average increase in 2018. The national forecast for salary budget increases for 2019 includes expected salary freezes, with 4.6 per cent of respondents expecting a zero salary budget for 2019. “Employers remain relatively confident about compensation expectations in the coming year,” says Anand Parsan, its vice-president, compensation consulting. “Those expecting healthier financial performance in the coming year outpace those expecting worse performance by six to one. In the face of this optimism and a labour market with no slack, however, employers remain guarded about salary increases, perhaps reflecting anxiety over the possibility of more trade protectionism, rising interest rates, and a Canadian economy operating close to its capacity.” The expected 2.6 per cent increase is consistent with the current rate of inflation. In July, the Bank of Canada noted that consumer price index inflation is expected to rise to about 2.5 per cent, before settling back to two per cent by the second half of 2019.

READ THE REPORT

Please take a moment to register and sign in on this site.  The Federal government is looking for public feedback on their proposed national pharmacare plan.  This is an opportunity for the public, employers and all stakeholders to provide feedback, receive and respond to opinion polls and overall stay in touch with the process.

I think all Canadians should get involved and pay attention to this issue.

The Advisory Council on the Implementation of National Pharmacare announced on July 20 the launch of the Council’s online consultation.

The Council, which was formally launched last month, is inviting Canadians to provide their views on national pharmacare through an online questionnaire, as well as by providing written submissions to the Council. The online consultations will close on Sept. 28.

READ MORE