In the midst of the most significant socio-economic and health crisis since WWII — and maybe even longer — virtually every aspect of modern society has been affected in some way, and employee benefits programs are no exception. Before the coronavirus pandemic was in full swing in Canada, employers were focused on ensuring employees diagnosed with the […]
North American employers are attempting to strike a balance between supporting employees and reducing costs during the coronavirus pandemic, according to a new survey by Aon. The survey, which polled more than 1,400 North American companies, found 70 per cent said they’re giving their working parents additional flexibility around their schedules, while 57 per cent said they’re […]
BMO Financial Group is highlighting a number of its health supports for employees during the coronavirus pandemic. The bank is hosting conference calls with physicians and mental-health professionals, which are recorded so employees can listen to them later on-demand. So far, 15,000 employees have participated, says Karen Collins, the bank’s chief talent officer. “It’s really […]
Alberta Blue Cross, Green Shield Canada, iA Financial Group and Medavie Blue Cross are the latest insurers to reduce benefits plan premiums during the coronavirus pandemic. For Alberta Blue Cross’ group plans, the changes include a 50 per cent reduction to dental benefits premiums, a 25 per cent reduction to vision care premiums and a 25 per cent […]
The Royal Bank of Canada is expanding its partnership with telemedicine platform Wello to give Canadian businesses and their employees access to virtual health care during the coronavirus pandemic. Through Wello’s platform, RBC’s plan sponsor clients and their employees will have access to health resources including prescription and medical referrals, consultations for chronic health conditions, mental-health […]
Morneau Shepell Ltd. and fitness app Lift are partnering to add artificial intelligence-based fitness programs and live coaches to Morneau Shepell’s LifeWorks well-being platform. Through the platform, plan members will be able to access virtual fitness programs built for their personal goals using AI. They will also be able to receive live virtual coaching and can join live […]
Equitable Life Insurance Co. of Canada is offering premium relief for all of its traditional and myFlex group plans for health and dental benefits. Since many health practitioners have closed their offices due to the coronavirus pandemic restrictions, plan member use of dental benefits and some health benefits has declined. As a result, Equitable Life is applying […]
Canadian employers are taking varied approaches to leave, compensation and benefits during the coronavirus pandemic, according to a new survey by Aon. The survey, conducted between April 1 and 3, found two in five employers said they’ve laid workers off temporarily. About a quarter (23 per cent) said they’ve encouraged workers to take annual leave, […]
With providers of dental and paramedical services closed, many aspects of the benefits plans are seeing reduced use. But drug plan spending is continuing unabated — and experts say new concerns are coming up during the crisis. Plan sponsors that have implemented 90-day supplies as a cost-control measure may have to see if their plan can be adapted during […]
Manulife Financial Corp. is lending a hand to group benefits plan sponsors in light of the tight financial situation many businesses are in due to the coronavirus pandemic. The insurer is providing certain premium relief for all group benefits plan sponsors with an insured non-refund accounted benefits plan with Manulife. For the month of May, dental […]