Benefit Costs

2020 YTD Annual Renewal Changes at +1.2%

2020-06-29T15:57:20+00:00

Recently, we looked at our client renewals from 2019, to question cost escalations based on Insurer trend factor surveys. These surveys suggested that benefit cost increases for health/dental were 8%-10% per annum. This number was the sticker price/MSRP, not the real rate of change. In 2019, we showed a +0.8% annual increase across all benefit [...]

2020 YTD Annual Renewal Changes at +1.2%2020-06-29T15:57:20+00:00

Employee Benefit Plan Premium Relief – Coming as early as May

2020-04-18T11:12:44+00:00

Yesterday, Sun Life was the first Insurer to announce that because of plan members inability to access Dental claims given COVID-19 mandated shutdowns of dental practices (and a subsequent move to emergency only services) that they were refunding their (non-refund/non self-funded) dental plans with a 50% premium credit retroactive to April.  This billing premium credit [...]

Employee Benefit Plan Premium Relief – Coming as early as May2020-04-18T11:12:44+00:00

Drug Dispensing Fees – Ontario (July to Dec. 2017)

2018-11-23T15:48:04+00:00

Although, these figures are historical (not released regularly), it is easy to see that Plan Sponsors should be encouraging plan members to be wise consumers and to look at the cost that pharmacist are charging for professional drug dispensing fees. Since guidelines were enacted a number of years ago, aimed at eliminating certain incentives/rebates to [...]

Drug Dispensing Fees – Ontario (July to Dec. 2017)2018-11-23T15:48:04+00:00

Designed for Health – Sun Life Benchmarking Reports

2018-09-09T14:02:55+00:00

Sun Life recently released 2 exceptional benchmarking reports for the under 50 and plus 50 employer marketplace. Unfortunately, they did not summarize the results in an Executive Summary, so it is unlikely any plan sponsor will read a 56 page and 72 page report.  (What were they thinking).  That means this data from over 20,000 benefits [...]

Designed for Health – Sun Life Benchmarking Reports2018-09-09T14:02:55+00:00

Ontario government to become second payer under OHIP+ changes

2018-07-12T22:01:36+00:00

Ontario’s new Conservative government has announced changes to the province’s youth pharmacare program to make it second payer for Ontarians under age 25 who have coverage through private benefits plans. “Today, our government is announcing our intent to fix the OHIP+ program by focusing benefits on those who do not have existing prescription drug benefits,” [...]

Ontario government to become second payer under OHIP+ changes2018-07-12T22:01:36+00:00