The increasing use of high-cost medicines is the primary cost driver for all Canadian drug plans, according to a new report by the Patented Medicine Prices Review Board. It found drug costs for public plans rose by 5.3 per cent in 2019/20, with high-cost medicines accounting for 6.3 per cent of the increase. Among private […]
The Canadian Imperial Bank of Commerce is supporting employee wellness with a new platform that focuses on healthy lifestyle tips and group well-being challenges. The platform allows employees to access a variety of health and wellness resources from anywhere, get personalized well-being information created by experts and learn easy ways to be more active and […]
Two-thirds (68 per cent) of global employers with high levels of employee engagement say they have a well defined diversity, equity and inclusion plan, according to a new survey by Aon. The survey, which polled more than 1,200 benefits and DEI leaders in 55 countries, found while three-quarters (74 per cent) of employers have an […]
While 80 per cent of U.S. employees view mental-health coverage as critical, only 61 per cent have access to mental-health care as part of their benefits package, according to a new survey by Aflac Inc. The survey, which polled more than 2,000 employees and 1,200 employers in the U.S., found more than half (59 per cent) […]
Six in 10 (60 per cent) U.S. employees say they’re more likely to stay at their current job if their employer offers a retirement savings plan, according to a new survey by Voya Financial Inc. The survey, which polled 1,000 employees, also found respondents are more likely to stay with their employer if they offer physical […]
An article on the Canadian Federation of Pensioners’ response to proposed legislative and policy updates for Alberta’s private sector pension regulations was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CFP urging Alberta government to reconsider transfer of pension risk to plan members 2. Walmart […]
In the midst of the enduring conversation about the changing nature of work and the workplace, some often underappreciated — and potentially underused — benefits have taken centre stage during the coronavirus pandemic. This month, Benefits Canada is exploring two black sheep of the benefits plan: employer-provided travel coverage and vision benefits. In English idiom, […]
As Ontario eyes a new system of portable benefits for precarious workers, one expert says these benefits can be an important attraction and retention tool for employers, while another believes employee considerations should be prioritized amid the rise of the gig economy. Laura Williams, founder and managing partner, Williams HR Law LLP Like anything when […]
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 […]
While the provision of travel insurance has long been a staple in many group benefits plans, it was thrust into the spotlight during the coronavirus pandemic. The benefit helps cover unexpected costs that employees may incur while travelling outside of the country, including emergency travel assistance services and emergency medical costs. In addition, some policies […]