benefits costs – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 02 May 2024 20:20:47 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 More private payers seeking to reduce costs turning to preferred pharmacy networks: expert https://www.benefitscanada.com/benefits/health-benefits/more-private-payers-seeking-to-reduce-costs-turning-to-preferred-pharmacy-networks-expert/ Wed, 01 May 2024 13:00:24 +0000 https://www.benefitscanada.com/?p=154972 As more insurers turn to preferred pharmacy networks to decrease costs, their efforts are being met with some resistance by plan members who may be finding it difficult and inconvenient to switch pharmacy providers. In January, Manulife Financial Corp.’s move to a preferred pharmacy network with Loblaw Cos. Ltd.’s Shoppers Drug Mart was met with […]

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]]> 40% of U.S. workers with employer-provided health benefits delayed care due to costs: survey https://www.benefitscanada.com/benefits/health-benefits/40-of-u-s-workers-with-employer-provided-health-benefits-delayed-care-due-to-costs-survey/ Tue, 30 Apr 2024 19:00:36 +0000 https://www.benefitscanada.com/?p=155031 Two-fifths (40 per cent) of U.S. workers with employer-provided health benefits reported delaying care due to cost, which negatively impacted their mental health, workplace culture and productivity, according to a new survey by research group Nonfiction on behalf of health-care provider Paytient. The survey, which polled more than 1,500 U.S. workers with health insurance through […]

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]]> 47% of Canadian employees relying on workplace benefits to improve well-being: report https://www.benefitscanada.com/benefits/health-wellness/47-of-canadian-employees-relying-on-workplace-benefits-to-improve-well-being-report/ Thu, 28 Mar 2024 13:00:52 +0000 https://www.benefitscanada.com/?p=153687 Nearly half (47 per cent) of Canadian employees say they’re interested in improving their well-being and plan on using workplace benefits to do so, according to a new report commissioned by Dialogue Health Technologies Inc. and conducted by Canadian market research firm Environics Research. The report, which analyzed multiple surveys polling more than 1,000 Canadian employees […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-76/ Fri, 15 Mar 2024 13:00:54 +0000 https://www.benefitscanada.com/?p=153160 An article on how a shorter workweek can support higher levels of employee health and happiness was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Four-day workweek improves employee well-being, retention: expert 2. Report finds women taking 69% of all mental-health leaves of […]

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]]> Expert panel: How plan sponsors are navigating benefits costs, innovations in 2024 https://www.benefitscanada.com/benefits/health-benefits/expert-panel-how-plan-sponsors-are-navigating-benefits-costs-innovations-in-2024/ Wed, 13 Mar 2024 13:00:28 +0000 https://www.benefitscanada.com/?p=153059 With 2024 well underway, it’s important for employers to adapt their strategies in the ever-evolving landscape of employee benefits. Employee expectations continue to evolve and the emphasis on mental health, well-being and personalized benefits continues to grow, requiring plan sponsors to balance innovation with keeping costs in check during uncertain economic conditions. Read: How family-building […]

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]]> Top 10 benefits stories of 2023 https://www.benefitscanada.com/news/bencan/top-10-benefits-stories-of-2023/ Tue, 19 Dec 2023 14:00:35 +0000 https://www.benefitscanada.com/?p=148992 A story on how plan sponsors and insurers are considering covering weight-loss drugs as part of a broader push towards more inclusive benefits was the most-read benefits story on BenefitsCanada.com this year. Here are the 10 most popular benefits news stories of the year: 1. How plan sponsors, insurers are considering coverage of weight-loss drugs amid rising […]

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]]> Expert warns against urging employees to use up benefits by end of year https://www.benefitscanada.com/benefits/health-benefits/expert-warns-against-urging-employees-to-use-up-benefits-by-end-of-year/ Tue, 19 Dec 2023 14:00:09 +0000 https://www.benefitscanada.com/?p=149031 With the end of the year approaching, some employers and health practitioners may feel the need to tell employees to use up their benefits, but Rob Van De Cappelle, national benefits consultant at Cowan Insurance Group, cautions against this approach. “I tell employers and employees the benefits plan is there to keep you healthy and […]

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]]> 58% of global insurers anticipating health benefits cost increases over next 3 years: survey https://www.benefitscanada.com/benefits/health-benefits/58-of-global-insurers-anticipating-health-benefits-cost-increases-over-next-3-years-survey/ Wed, 06 Dec 2023 14:00:08 +0000 https://www.benefitscanada.com/?p=148315 More than half (58 per cent) of global insurers say they anticipate higher health benefits costs over the next three years, with the average global cost trend projected to increase by 9.9 per cent in 2024, according to a new survey by WTW. The survey, which polled more than 260 insurers representing 66 countries, found […]

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]]> Average cost of U.S. health benefits per employee rose 5.2% in 2023: survey https://www.benefitscanada.com/benefits/health-benefits/average-cost-of-u-s-health-benefits-per-employee-rose-5-2-in-2023-survey/ Wed, 29 Nov 2023 14:00:32 +0000 https://www.benefitscanada.com/?p=147872 The average per-employee cost of U.S. employer-sponsored health benefits has risen by 5.2 per cent in 2023 to reach US$15,797, according to a new survey by Mercer. The survey, which polled more than 1,900 U.S. employers, found cost increases were highest for employers with 50 to 499 employees (7.8 per cent on average) and these […]

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]]> TD Synnex modernizing benefits plan, supporting plan members’ mental health https://www.benefitscanada.com/benefits/health-benefits/td-synnex-modernizing-benefits-plan-supporting-plan-members-mental-health/ Mon, 06 Nov 2023 14:00:45 +0000 https://www.benefitscanada.com/?p=146477 TD Synnex Canada is modernizing its employee benefits plan by getting the best value for money while still protecting employees from a mental-health and well-being perspective, according to Shana Kapustin, the global information technology company’s senior director of human resources, speaking during an event hosted last week by the Group Insurance and Pharmaceutical Committee. “We’ve gone […]

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