Benefits management services provider Express Scripts Canada has announced the introduction of a new business model, which, it says, will enable companies to better control the costs of their drug plans.
The physical dangers associated with a career in the Canadian Forces are readily apparent. Less obvious, perhaps, is the mental strain faced by military personnel deployed overseas.
Two U.S. surveys reveal that health savings accounts (HSAs) are helping both employers and consumers manage healthcare costs.
With insurance costs rising for North American companies and their employees, implementing innovative solutions to improve wellness and slow down costs has become a business imperative. But reducing this steep climb in health costs is actually easier than one might think. With some simple ideas and a bit of determination on the part of employers […]
The number of U.S. employees using auto-enrollment features for their benefits plans has more than doubled since 2005, reports the Guardian Life Insurance Company of America. According to Guardian’s study, 62% of workers now enrol online for their employee benefits, compared with only 29% in 2005. In the past year alone, the use of online […]
Employees want benefits. That’s not a surprising statement, but what might be surprising is that the degree of importance employees place on benefits programs has increased. That’s the finding from a recent study by Unum, a benefits provider for the U.S. and U.K. According to the study of 1,700 working adults, the perceived importance of […]
The bulk of Canadian employers believe that offering benefits increases employees’ productivity and gives them a hiring advantage—but many employers aren’t implementing the necessary programs to reap those benefits. According to Manulife Financial’s Small Business Research Report, more than three-quarters (76%) of small business owners and managers in Canada believe that taking care of employees […]
While Canadian employers understand the importance of workplace wellness, many are struggling to create comprehensive programs to actually improve employee health—and their bottom lines. That’s the finding of the 2011 Buffett National Wellness Survey, released Oct. 25 at the launch of Sun Life Financial’s 2011 series of Wellness Institute Breakfasts in Toronto. The good news […]
After two years of increasing inflation in health benefits plan costs, Canadian employers can now expect a break, according to a survey released by Buck Consultants. Insurers have lowered their expected inflation costs for health benefits premiums (including prescription drugs, medical expenses, hospital coverage and dental care) from 15% in 2010 to 14.4% in 2011. […]
Trend factors and, more specifically, health trend factors, use an organization’s experience with historical claims to forecast future healthcare benefits costs. Insurers apply these trends as a way to rate your plan. The trend factor captures anticipated increases in the cost of medical goods and services and considers changes in utilization patterns driven by factors […]