While flexible benefits plans are a clear trend among Canadian employers, the range of choices can be daunting for employees. So how much choice is too much? That was a question Pitney Bowes Inc. considered when it redesigned its benefits plan in 2015. As part of the changes, the company trimmed its menu of mix-and-match […]
When a Hootsuite Media Inc. employee decided to send a branded T-shirt to a customer as a gift, he didn’t expect it to cost $200. But according to an article written by Hootsuite chief executive officer Ryan Holmes that appeared on the website of U.S. publication Fast Company earlier this year, that’s exactly how expensive […]
As U.S. President Donald Trump’s administration seeks to keep trying to repeal and replace the Affordable Care Act, how would any change affect employer benefits costs, including Canadian businesses with U.S. operations? Canadian employers that decide to set up shop in the United States will notice a big difference when it comes to benefits costs. In the […]
The cost of multi-employer health plans in the United States has increased consistently over the past decade, rising at an average of 4.8 per cent per year, according to a new study. The study, published by the International Foundation of Employee Benefit Plans and Horizon Actuarial Services, also found the median cost of benefits per participant […]
As part of its celebration of its 40th anniversary, Benefits Canada followed up on research undertaken five years ago into plan sponsors’ attitudes towards their pension and benefits plans. How do the results today compare to the 2012 findings? It’s no surprise that, according to Benefits Canada’s research, plan sponsors find costs the biggest challenge […]
While the majority of employees continue to be satisfied with their health benefits plan, the extent to which they find it meets their needs has declined over the years, according to the 2017 Sanofi Canada health-care survey. The latest survey, released today, found 53 per cent of plan members reported their health benefits plan meets […]
Fewer than a third (31 per cent) of employers anticipate making changes to their health benefits plan design over the next two years, according to the 2017 Sanofi Canada health-care survey. That compares to 42 per cent who expected to do so in 2015. Among respondents that said they’ve made changes since 2015, these results were mainly […]
Just 11 per cent of employees are completely satisfied with the coverage levels for all five of the major areas of their health benefits plan, according to the 2017 Sanofi Canada health-care survey. Members are especially keen to boost their coverage for major dental services (25 per cent), vision care (21 per cent) and paramedical […]
Ontario’s Workplace Safety and Insurance Board spent 33 per cent less on prescription drugs in 2015 than it did in 2010. The board has claimed the $34-million difference was due to lower drug prices and fewer claims entering the system. But a Toronto legal clinic is arguing the cost savings actually stem from reduced services to injured […]
In the 2017 budget released last week, the federal government said it’s aiming to lower pharmaceutical prices and improve access to prescription medications through significant investments in a variety of health-care agencies. The government has committed $140.3 million over five years, starting in 2017-2018, to Health Canada, the Patented Medicine Prices Review Board and the Canadian Agency for […]