An executive from a well-known national third-party administrator recently commented how administrative services only (ASO) is hot these days. He further added that several brokers were selling ASO plans as the panacea for all the evils in today’s benefits environment and an instant road to rich discounts of up to 40%. While ASO plans may offer plan sponsors some degree of savings over conventional insured plans, the true benefits may lay elsewhere.
The American benefits landscape has been the birthplace of a number of concepts and strategies that have migrated to Canada: Targeted health population programs, wellness and prevention programs, and worksite health management all began in the U.S. With the high cost of healthcare, these programs and strategies are intended to reduce costs for employers, increase employee productivity and reduce the incidence of disability claims. A similar strategy which is gaining more attention in the U.S. landscape is benefits advocacy.
The United States has delayed a portion of the Affordable Care Act (ACA), which forces companies with 50 or more workers to provide healthcare coverage to their employees.
It’s widely recognized that Canadians aren’t saving enough for retirement and benefits costs are continuing to rise. In Alberta, the story’s largely the same, but there are subtle differences compared to the rest of the country, especially with regards to work-life balance and wellness initiatives.
A survey of Canadian business owners finds that there is a significant difference of opinion on whether telecommuting supports employee morale and productivity.
Leading-edge organizations look for ways to implement innovative solutions to manage their costs and be better prepared for the effects of future changes in the drug benefits landscape. For the Alberta School Employee Benefit Plan (ASEBP)—which serves more than 55,000 covered members in 58 school jurisdictions across Alberta—predictive modelling for prescription drug costs was one such way.
The cost of health and dental services don’t need to be shrouded in mystery. A little education can go a long way to help employees better understand the costs of these services and what they can do to save money for themselves and the company.
Public-sector workers at the federal, provincial, and municipal level across Canada were more likely to have a registered pension plan and higher wages than their private-sector counter parts in 2011, a new report from the Fraser Institute reveals.
While many plan sponsors are backing away from retiree benefits, there is a growing focus by employers on helping employees approaching retirement to prepare for the financial burden that they may face on the health front.
WorkSafeBC is just like any other employer, in that it has a health and safety policy, which, by law, follows Occupational Health and Safety regulations. However, Valerie Molloy, senior manager, safety, health and wellness, with WorkSafeBC, says the organization goes beyond its legal obligations when it comes to focusing on employee safety, health and wellness.