Canadian life and health insurers processed nearly $600 million in claims related to mental health in 2021, up 45 per cent since 2020 and 75 per cent since 2019, according to the Canadian Life and Health Insurance Association’s annual fact book. “2021 was a year of recovery and insurers have been proud partners helping employers […]
Nearly two-thirds (63 per cent) of employees say their current benefits package makes them at least somewhat more likely to remain with their employer, according to a new survey by LIMRA. It found 61 per cent of employees who receive more than six benefits reported being satisfied with their benefits package, whereas only a third […]
The federal government’s 2022 budget, which set out $56 billion in new spending on Thursday, has a few offerings that could impact employers and employees. Dental-care program, pharmacare The budget confirmed the government’s commitment to rolling out a national dental-care program, which was announced in March, by specifying a $5.3-billion investment in its implementation. It also […]
Ahead of the upcoming provincial election, Ontario Liberal Leader Steven Del Duca is promising several benefits for employees and employers in his economic platform. The platform, announced ahead of the 2022 election campaign, includes providing all Ontario workers with portable drug, dental and mental-health services; matching up to $1,000 in annual retirement savings for long-income earners, […]
Lower-income workers across Ontario have lower rates of employer-provided dental insurance, according to a new report by the Toronto Foundation. In addition, the community foundation found the problem is more pronounced in Toronto. For example, 53 per cent of employees earning under $20,000 annually have workplace dental insurance in the rest of Ontario, while the same […]
A Toronto-based seafood market is using its benefits and compensation offerings to engage employees in an industry hit particularly hard by the coronavirus pandemic. David Owen, owner of De La Mer, recently introduced a profit-sharing plan and health benefits for employees of his four stores. While the pandemic delayed the launch of these programs by […]
Employees at several Indigo Books & Music Inc. stores across Canada are unionizing, as the ongoing coronavirus pandemic has “highlighted the precarity of retail work in general and how little say workers have in rapidly changing work environments. “Joining [United Food and Commercial Workers Canada] provided security and gave workers a voice without fear of retaliation,” […]
The majority (87 per cent) of U.S. millennial employees are more interested in certain benefits this year, with life insurance (39 per cent) topping the list, followed by financial planning tools (34 per cent), dental insurance (31 per cent) and legal plans (29 per cent), according to a new survey by Rainmakers CSI for MetLife […]
Employer-provided medical benefits costs in Canada will rise seven per cent in 2022, according to a new survey by Aon. The annual global medical trend rates survey found the expected increase for Canadian employer-sponsored medical plan costs is due to a combination of higher costs for dental care, paramedical expenses and prescription drugs. It was conducted […]
Sun Life is buying DentaQuest, a U.S.-based provider of dental benefits, for $3.1 billion. The company, which offers dental benefits through employers, will become part of Sun Life’s U.S. business. The insurer said the acquisition will more than double the size of its U.S. employee benefits business by revenue. DentaQuest currently has more than 33 million members in 36 […]