Disability incidence rates have increased continually over the past 5 years. This incidence trend, which is the rate at which new claims are changing compared to the past, is industry wide and affects everyone. Based on published reports from industry leaders, Manulife and Sun Life, current Long-Term Disability (LTD) pricing, is not reflective of this [...]
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So far Chris Pryce has created 120 blog entries.
Authors: Patrick Galizia Ione Deda Alves Canada | Publication | September 4, 2020 - 12 PM ET With the end of the Canada Emergency Response Benefit (CERB) fast approaching, the federal government announced on August 20 a number of major changes to the Employment Insurance (EI) program, including the creation of three new economic recovery benefits. In [...]
Today, the Ontario government issued a regulation extending the infectious disease leave available under the Ontario Employment Standards Act, 2000 (“ESA”) until January 2, 2021. What does this mean for employers? In summary, from March 1, 2020 to January 2, 2021: A non-unionized employee whose employer has temporarily reduced or eliminated their hours of work [...]
Chris was invited to review and comment on the new IMC Cost Drivers Analysis of Private Drug Plans in Canada (2016-2019) with a handful of successful benefit consultants, in a series of virtual meetings. The meeting was intended to get our input on the new data and to answer some focused questions on key findings [...]
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 [...]