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 […]
U.S. employers say they’re expecting their total health benefits plan costs to rise by an average of 5.4 per cent per employee in 2024, according to a new survey by Mercer. The survey, which polled more than 1,900 employers, found the projected increase comes after more than a decade of annual cost increases typically averaging […]
U.S. employers are expecting health benefits costs to increase by an average of 8.5 per cent to more than $15,000 per employee in 2024, according to a new survey by Aon. The survey, which polled 800 U.S. employers, found the projected increase is nearly double the budgeted amount that employers experienced from 2022 to 2023 (4.5 per cent). […]
Total U.S. sales of workplace disability insurance premiums reached $1.7 billion in the first quarter of 2023 — a year-over-year increase of five per cent — driven by a 17 per cent increase in short-term disability insurance sales, according to a new report by LIMRA. It also found sales of long-term disability insurance premiums were down five […]
Jessica Tincopa may leave the photography business she spent 14 years building for one reason — to find coverage for fertility treatment. After six miscarriages, Tincopa and her husband started saving for in vitro fertilization, which can cost more than US$20,000. But the coronavirus pandemic wiped out their savings and they can’t find coverage for IVF in their state’s health insurance marketplace. So the California couple is saving again and […]
The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains. The company will now match all regular employees’ contributions to the group registered retirement savings plan to a maximum of four per cent of their basic annual earnings. The agreement also […]
Sales of U.S. workplace supplemental health insurance products totalled US$2.1 billion in the first nine months of 2022, rising 11 per cent year over year, according to a new survey by LIMRA. It also found workplace supplemental health insurers reported a combined total of $453 million in the third quarter of 2022, three per cent […]
Employers planning to incentivize non-smoking employees should align these perks with a broader health and well-being strategy and ensure the rewards are significant enough to make behaviour change appealing for smokers, says Kim Siddall, vice-president of enterprise consulting for the West at People Corporation. Possible incentives include additional vacation time, increased credits in a health-care […]
In March 2020, Bill Gosling Outsourcing’s benefits plan was facing unsustainable costs, as well as a deficit due to incoming premium increases. The coronavirus pandemic, which was declared at the same time, presented an opportunity for the organization to make significant changes. “During the pandemic, people were housebound, so they weren’t going to the dentist […]