For $5 you can become a member of Mountain Equipment Co-op (MEC), the Vancouver-based outdoor sporting equipment and clothing store, and vote on how the co-op is governed. But for a resumé, you can work for an employer that truly values healthy employees. For MEC, the perks are about being active. “Ultimately, we want to encourage and have our staff lead healthy lives,” says Abbie Hodgson van Essen, manager of compensation and benefits. “That’s what MEC is at the core—getting people outside and getting people into self-propelled activities.”
Another recent Ontario class action provides reasons for careful attention when changing employee benefits and pensions.
The rising price tag of healthcare and the risks and costs associated with funding pension plans continue to be a concern for finance executives in the United States.
General Motors of Canada was “not contractually entitled” to cut retirees’ healthcare and life insurance benefits, the Ontario Superior Court of Justice has ruled.
An executive from a well-known national third-party administrator recently commented how administrative services only (ASO) is hot these days. He further added that several brokers were selling ASO plans as the panacea for all the evils in today’s benefits environment and an instant road to rich discounts of up to 40%. While ASO plans may offer plan sponsors some degree of savings over conventional insured plans, the true benefits may lay elsewhere.
The American benefits landscape has been the birthplace of a number of concepts and strategies that have migrated to Canada: Targeted health population programs, wellness and prevention programs, and worksite health management all began in the U.S. With the high cost of healthcare, these programs and strategies are intended to reduce costs for employers, increase employee productivity and reduce the incidence of disability claims. A similar strategy which is gaining more attention in the U.S. landscape is benefits advocacy.
The United States has delayed a portion of the Affordable Care Act (ACA), which forces companies with 50 or more workers to provide healthcare coverage to their employees.
It’s widely recognized that Canadians aren’t saving enough for retirement and benefits costs are continuing to rise. In Alberta, the story’s largely the same, but there are subtle differences compared to the rest of the country, especially with regards to work-life balance and wellness initiatives.
A survey of Canadian business owners finds that there is a significant difference of opinion on whether telecommuting supports employee morale and productivity.
Leading-edge organizations look for ways to implement innovative solutions to manage their costs and be better prepared for the effects of future changes in the drug benefits landscape. For the Alberta School Employee Benefit Plan (ASEBP)—which serves more than 55,000 covered members in 58 school jurisdictions across Alberta—predictive modelling for prescription drug costs was one such way.