Watch this video Mike Sullivan, president of Cubic Health, talks about his unique experience working with State Farm Insurance, as the organization set out to better manage its benefits plan. Sullivan says that State Farm’s cross-border structure—Canadian benefits are managed by the company’s U.S. corporate head office in conjunction with its Canadian HR team—and proactive […]
It’s hard to believe the wave of drug reforms swept past only a year ago. Judging from early insights, it doesn’t appear the landscape has been altered to any meaningful degree for plan sponsors. In recent weeks, Cubic Health researched more than 19,900,000 prescription drug claims across Canada from April 1, 2009, to March 31, […]
With global markets in turmoil and renewed fears of a global economic recession, one might expect that Canadian companies would be tightening their purse strings. This does not appear to be the case when it comes to salary budgets for 2012, according to a Morneau Shepell survey. On average, respondents said they were planning salary […]
From the state of the economy to the implementation of drug reform legislation and prolific genericization of branded products, there has been much speculation about the impact that biologic drugs will have on private plans. Less than five years ago, most of this discussion took place in the future tense. Long development times in the […]
Benefits plans matter to employees. Research from the 2011 sanofi-aventis Healthcare Survey shows that 59% of employees would choose to keep their benefits plan if given the option to trade it for $10,000 in cash. But as much as employers want to provide these benefits to their workforce, they are struggling to manage plan costs. […]
I was talking to a client recently about the potential implications of a particular biologic drug on their future benefits plan costs. The client listened intently but at the end of the discussion indicated they understood the issue but couldn’t do anything about it. At that moment it struck me—most employers manage benefits plan risks […]
Manulife Financial has launched Health Management Services, a new service to help plan sponsors manage their benefits costs. The new service offers employers a “unique and practical solution that takes the traditional approach of promoting employee health and wellness two steps further,” according to a release from the company. Health Management Services creates an analysis […]
In most recent article on BenefitsCanada.com, entitled Benefits cost management: myth or reality, one of the key messages was that despite a lot of discussion over the years there really isn’t a lot of active cost management built into many benefit plans. Based on the feedback I have received to the article, the message seemed […]