U.S. employers are expecting health benefits costs to increase by an average of 8.5 per cent to more than $15,000 per employee in 2024, according to a new survey by Aon. The survey, which polled 800 U.S. employers, found the projected increase is nearly double the budgeted amount that employers experienced from 2022 to 2023 (4.5 per cent). […]
While ChatGPT is helping benefits communications become more efficient, detailed and reliable, the risks may outweigh the rewards when it comes to full automation, says Tom Milne, a principal at Normandin Beaudry. The possibilities for generative artificial intelligence in the benefits space are infinite, he says, noting the algorithms are helping expedite the research and […]
The annual Benefits & Pension Summit, which was hosted virtually on June 1, is the only Benefits Canada event that brings together health benefits and capital accumulation plans in one event. This year, delegates heard the results of Benefits Canada‘s exclusive CAP Member Survey with a panel of experts discussing the findings, case studies from two leading […]
TD Bank Group credits its culture of care for the recent enhancements to its benefits plan. “We place a great amount of emphasis and focus on this, which is a key element of our [employee] promise,” said Susy Michor, the bank’s vice-president of human resources, global retirement benefits and well-being, during Benefits Canada’s 2023 Benefits […]
Like other large employers, Ontario Power Generation Inc. has a diverse workforce that embodies the broader Canadian population across multiple demographics. The Crown corporation uses a variety of methods and measurements for gathering diversity, equity and inclusion data, including engagement surveys and focus groups to establish mental-health indicators by analyzing benefits usage, says Tanya Hickey, […]
A 2023 federal budget proposal to require employers to report dental coverage as part of the national dental-care program will be onerous on plan sponsors and still leaves more questions than answers, says Pam Martin, vice-president and senior consultant at Baynes & White Inc. Since dental benefits are important to an individual’s mental health, the federal government […]
Although a majority (83 per cent) of U.S. employers say their employees are satisfied with their current benefits offerings, fewer than two-thirds (61 per cent) of workers agree, according to a new survey by MetLife Inc. The survey, which polled more than 2,800 employers and more than 2,800 full-time employees, found the No. 1 reason […]
Tonya Johnson, age 39, is single, happy and freezing her eggs to buy a little more time before she starts a family. The procedure is costly — as much as $15,000 for one egg freezing cycle with medication — putting it out of reach for many. But Johnson works for one of a growing number of companies in Canada offering egg freezing as […]
Humi is supporting employees with an annual $500 employer match to its group registered retirement savings plan and fertility drug coverage. Andrea Bartlett, the human resources software company’s vice-president of people, says Humi hopes to change the match to a percentage of employees’ contributions in the near future. After announcing the match, the company saw […]
Nearly three-quarters (74 per cent) of U.S. employers say they offer hybrid work arrangements, according to a new survey by the International Foundation of Employee Benefit Plans. The survey, which polled more than 500 employers, found 55 per cent said they offer fully remote working arrangements while 57 per cent offer flexible work hours. In […]
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