cost management – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 22:24:05 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Canadian health benefits cost trend increasing to 7.4% in 2025: report https://www.benefitscanada.com/benefits/health-benefits/canadian-health-benefits-cost-trend-increasing-to-7-4-in-2025-report/ Wed, 20 Nov 2024 14:00:15 +0000 https://www.benefitscanada.com/?p=163055 In Canada, the average health benefits cost trend for 2025 is estimated to be 7.4 per cent, up from five per cent in 2024, according to a new report by Aon. It found the top medical conditions driving health benefits plan costs are diabetes, autoimmune diseases (excluding diabetes), mental health, lung disorders/respiratory and cardiovascular and […]

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]]> Canadian employers reducing office space due to hybrid work, passing savings onto workers: survey https://www.benefitscanada.com/news/bencan/canadian-employers-reducing-office-space-due-to-hybrid-work-passing-savings-onto-workers-survey/ Tue, 12 Nov 2024 20:00:41 +0000 https://www.benefitscanada.com/?p=162724 Nearly three-quarters (74 per cent) of Canadian employers have reduced the size of their office footprint by embracing hybrid work and allowing employees to work in office and co-working spaces closer to where they live, according to a new survey by International Workplace Group PLC. The survey, which polled more than 250 Canadian employers, found […]

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]]> BMO’s Carol Bennett recognized for innovation, commitment to inclusion https://www.benefitscanada.com/benefits/health-benefits/bmos-carol-bennett-recognized-for-innovation-commitment-to-inclusion/ Wed, 30 Oct 2024 13:00:41 +0000 https://www.benefitscanada.com/?p=161992 Carol Bennett’s innovation and commitment to inclusion led to her recognition as the Human Resources/Benefits Professional of the Year at Benefits Canada’s 2024 Workplace Benefits Awards on Oct. 18. Bennett, senior advisor of Canadian health and welfare benefits at BMO Financial Group, was awarded for the innovation she has brought to the bank’s benefits and wellness programs […]

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]]> 61% of Canadian HR professionals say harassment a growing issue: survey https://www.benefitscanada.com/news/bencan/61-of-canadian-hr-professionals-say-harassment-a-growing-issue-survey/ Fri, 25 Oct 2024 19:00:18 +0000 https://www.benefitscanada.com/?p=161879 Nearly two-thirds (61 per cent) of Canadian human resources professionals feel workplace harassment is a growing issue in their organization and needs more attention, according to a new survey by Traliant. The survey, which polled 1,000 HR professionals in Canada from organizations ranging from 50 to more than 1,000 employees, found 52 per cent said […]

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]]> Majority of employers feel it’s challenging to provide benefits in today’s economic climate: 2024 BCHS https://www.benefitscanada.com/benefits/health-benefits/majority-of-employers-feel-its-challenging-to-provide-benefits-in-todays-economic-climate-2024-bchs/ Thu, 19 Sep 2024 13:00:47 +0000 https://www.benefitscanada.com/?p=160233 A large majority (80 per cent) of Canadian employers feel it’s extremely (36 per cent) or somewhat challenging (44 per cent) to provide benefits in today’s economic climate, according to the 2024 Benefits Canada Healthcare Survey. However, three-quarters (77 per cent) of plan sponsors indicated their health benefits plan was extremely or very important to […]

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]]> U.S. health benefits costs rising to nearly 8% in 2025: survey https://www.benefitscanada.com/benefits/health-benefits/u-s-health-benefits-costs-rising-to-nearly-8-in-2025-survey/ Wed, 28 Aug 2024 19:00:44 +0000 https://www.benefitscanada.com/?p=159526 U.S. employers’ health benefits costs are expected to increase to nearly eight per cent for 2025, the highest amount in more than a decade, according to a new survey by Business Group on Health. The survey, which polled 125 large employers, found they’re planning to continue to absorb much of the increases at least for […]

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]]> 47% of U.S. employers report 2024 salary budgets are lower than last year: survey https://www.benefitscanada.com/news/bencan/47-of-u-s-employers-report-2024-salary-budgets-are-lower-than-last-year-survey/ Tue, 06 Aug 2024 13:00:38 +0000 https://www.benefitscanada.com/?p=158599 Nearly half (47 per cent) of U.S. employers report their salary budgets for 2024 are lower than the previous year, as the overall median pay raise for 2024 fell to 4.1 per cent, down from 4.5 per cent in 2023, according to a new survey by WTW. The survey, which polled more than 1,800 employers, […]

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]]> How plan sponsors, insurers should approach Wegovy rollout in Canada https://www.benefitscanada.com/benefits/health-benefits/how-plan-sponsors-insurers-should-approach-wegovy-rollout-in-canada/ Wed, 12 Jun 2024 13:00:04 +0000 https://www.benefitscanada.com/?p=156755 When considering whether to cover Wegovy, an obesity medication, it’s important for plan sponsors to weigh increased short-term costs with long-term savings, while considering alternative treatments that are also available, says Philippe Laplante, a principal at Eckler Ltd. Plan sponsors that decide to cover Wegovy, which launched in Canada last month, could see a significant cost […]

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]]> More private payers seeking to reduce costs turning to preferred pharmacy networks: expert https://www.benefitscanada.com/benefits/health-benefits/more-private-payers-seeking-to-reduce-costs-turning-to-preferred-pharmacy-networks-expert/ Wed, 01 May 2024 13:00:24 +0000 https://www.benefitscanada.com/?p=154972 As more insurers turn to preferred pharmacy networks to decrease costs, their efforts are being met with some resistance by plan members who may be finding it difficult and inconvenient to switch pharmacy providers. In January, Manulife Financial Corp.’s move to a preferred pharmacy network with Loblaw Cos. Ltd.’s Shoppers Drug Mart was met with […]

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]]> 2024 Group Benefits Providers Report: Leveraging AI to streamline benefits https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-group-benefits-providers-report-leveraging-ai-to-streamline-benefits/ Fri, 12 Apr 2024 12:57:54 +0000 https://www.benefitscanada.com/?p=154136 While there are 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 […]

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