While the coronavirus pandemic may be in the rearview mirror for most employers, the Ontario-based Workplace Safety and Insurance Board knows all too well that the shadow pandemic that emerged from the health crisis is still impacting employees in the workplace. At a time when some employers are considering cutting back on mental-health benefits, the […]
While there’s multiple opportunities for the use of artificial intelligence in the employee benefits space — including making the claims process more efficient and personalizing the plan member experience — one of the biggest advantages of the technology is the ability to streamline administrative tasks, allowing employees to focus on more value-added work in addition […]
More than half (58 per cent) of global insurers say they anticipate higher health benefits costs over the next three years, with the average global cost trend projected to increase by 9.9 per cent in 2024, according to a new survey by WTW. The survey, which polled more than 260 insurers representing 66 countries, found […]
The costs of U.S. employer-sponsored medical benefits are expected to rise seven per cent in 2024, according to a new survey by the International Foundation of Employee Benefit Plans. The survey found 79 per cent of U.S. employers’ benefits plans are self-funded (with or without stop-loss coverage), while 21 per cent are fully insured. The […]
Canadian employers are investing in innovative financial, physical and mental-health benefits to drive their attraction and retention efforts, according to a new survey by Mercer. The survey, which polled more than 300 employers, found 59 per cent said they’ve invested in employee discount programs, followed by budgeting and other financial wellness education and support (51 […]
As technology advances and plan members’ needs become more diverse, the relationship between benefits plan sponsors and providers is adapting to fit these changes. Sarah Beech, chief executive officer of benefits and consulting at Arthur J. Gallagher & Co., believes the trend of employees wanting more from their employers is the starting point for this […]
The Ontario Teachers Insurance Plan has added a lead pharmacy consultant to its group life and disability claims team to assist in managing both early intervention and ongoing disability claims. The role, which was introduced in June 2021, creates a collaborative relationship between the pharmacist and the disability management team, providing further support for plan […]
During the coronavirus pandemic, most people were forced to work remotely and create makeshift offices in spaces that weren’t designed for that purpose. The result is a serious impact on musculoskeletal issues. Dr. Ayla Azad, interim chief executive officer of the Canadian Chiropractic Association, says remote and hybrid work are having a major effect on […]
With more data emerging showing vaping can lead to lung injuries and other adverse health issues, many employers have concerns about the potential cost of providing extended health-care benefits to employees who vape, says Julie Stich, vice-president of content at the International Foundation of Employee Benefit Plans. “We’re seeing more and more evidence coming forth […]
Workplace mental-health programs can demonstrate a huge return on investment for an organization’s bottom line, as well as reducing absenteeism and presenteeism, said Nir Yahav, mental-health specialist on the national disability best practices team at Manulife, during a session at Benefits Canada’s 2019 Vancouver Mental Health Summit on Dec. 12. There are huge costs associated with presenteeism, […]