Dear Subscriber,
Happy almost March. For those of you hustling for RRSP contributions...I'm so glad I only do group :-)
We are back in business with our March 30th Toronto/Vaughan PACL workshop. If you have not attended it in the past, it's worth the drive, train or flight it may take you to get here to be a part of it, We are already 40% sold out! If all goes well, I hope to repeat it in Calgary and Vancouver in the fall . We are also planning on our second part of our panel event, in Toronto, that we started last year. This one will highlight advisors with over 25 years of experience and how they've grown their businesses. Watch for details.
There is a lot of reading in this issue as we see more articles come from across a variety of topics, and not just COVID related topics (thank goodness). Remember, this is also great stuff to share with your staff and clients (in blogs, e-mails newsletters, podcasts etc.).
I hope to see many of you in person over the next 6 months at the events.
Dave |
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OUR EVENTS
CGIB COFFEE CHATS
Coffee chats are like a virtual breakfast. Log in, ask questions, share problems, seek solutions and talk about what's on your mind. Best done from a computer, with a camera and a microphone. No CE credits, but also no cost, just show up.
Thursday March 3rd @2pm (EST) Monday March 14th @ 2pm (EST) Thursday March 31st @2pm (EST) Tuesday April 12th @ @2pm (EST) Monday May 2nd @ 2pm (EST) ____________________________________________________________
BREAKFAST MEETINGS CGIB no longer runs the breakfast meetings, but supports the initiative of the volunteers that do.
Please find the details for your closest location below. Ajax, Cambridge, London, Markham, Oakville, St Catherines, Toronto, Vancouver Island, Windsor or the Virtual National Meeting
Virtual meetings through Zoom may be utilized until COVID19 passes. Please contact the event champions to be added to their lists, and receive more info.
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LOOKING FOR PEOPLE
Share your info and we'll post it here. ____________________________________________________________ Upcoming CGIB Events:
Toronto -proceeding March 30th (masks only required)
We are holding another Building and Using a Plan Administration CheckList workshop with the an employers in house lawyer joining us to share their perspective. Details and booking below...
Hold the date for these upcoming events, and watch for details HERE.
Toronto Seminar - Wednesday October 5th - FULL-DAY
Calgary Seminar - Tuesday October 18th - 5 hours Plan Administration Checklist & Employment Law Workshop - TBC
Vancouver Seminar - Thursday October 20th - 5 hours Plan Administration Checklist & Employment Law Workshop - TBC |
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GET ON SLACK
The CGIB SLACK channel is a great place to pose questions, share info and learn a ton from your fellow members. The info and discussions that are posted there are unlike anywhere in the industry. Sadly, about 15% of CGIB members are still missing out on all the info being shared. Others have not taken a look at all the documents, videos and information available in MEMBERS ONLY to make their life easier.
NOTE TO ALL SLACK USERS: We now have 40+ channels in Slack to handle different topics. Please take a moment to add these channels to your menu. To do so, just click on the + next to Channels on the top left. Browse the channels and then click JOIN to add each of them. By doing so you won’t be missing some really great info. |
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...and now for something a little bit (not completely) different!
Watch upcoming newsletters and the website for our all new podcast.
Canadian Group insurance Brokers is pleased to work with Business Career College to produce a quarterly podcast of all things benefit related. Jason Watt and Dave Patriarche will interview benefit advisors and those that work in the space including; insurers, TPA's, PBM's, pharmaceutical companies and anyone who plays an important role in group insurance plans.
Stay tuned for details and a schedule of speakers and release dates. |
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SUGGESTED READING
We think the information contained below is of great value and encourage you to read the articles and check out the events that interest you. In most cases, these articles and events are not run by CGIB, so please contact the organizers for more information. We take no responsibility for the websites, events, organizations or their content. |
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I’m pleased to inform you that Insurance Journal Publishing Group is offering you and your team 30% discount on a one-year subscription to PRO Level. Please follow these steps to subscribe: - GO on https://insurance-portal.ca/prolevel/
- Click on “I WANT TO GO PRO”
- Enter your email address and password
- Choose the annual payment method
- Enter your credit card information and click on validate
- Enter the Promo Code : CGIB30 and confirm (please note that you have until April 1st, 2022 to use this code)
Important : Please take note of the following before you proceed with the subscription: · The promo code will no longer be valid after April 1st, 2022. You must use it prior to this date · You must choose the annual payment option · The discount is only valid for the 1st year. At the time of the renewal, the full price will be charged. · The subscription is not refundable, you must click on the APPLY button to change the price when you enter the promo code before you CONFIRM ____________________________________________________________
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CLHIA DEPLOYS AI TO COMBAT FRAUD The Canadian Life and Health Insurance Association (CLHIA) will deploy advanced artificial intelligence (AI) tools to analyze industry-wide anonymized claim data in a bid to enhance the detection and investigation of benefits fraud. “Fraudsters are taking increasingly sophisticated steps to avoid detection,” says Stephen Frank, CLHIA’s president and CEO. “This technology will give insurers the edge they need to identify patterns and connect the dots across a huge pool of claims data over time, leading to more investigations and prosecutions.” Insurers paid out nearly $27 billion in supplementary health claims in 2020. Employers and insurers lose what is estimated to be millions of dollars each year to fraudulent group health benefits claims. The costs of fraud are felt by insurers, employers, and employees and put the sustainability of group benefits plans at risk. This new initiative is being led by the CLHIA and its technology provider Shift Technology. It is expected that the initiative will expand in scope over the coming years to include even more industry data.
RESIDENCY REQUIREMENT REJECTED FOR HCSA An arbitrator has rejected an argument that an employer could not provide a healthcare spending account (HCSA) to non-residents under Canada Revenue Agency’s (CRA) directives, says BMKP Law. In fact, in making its ruling, it noted that CRA interpretation bulletins do not prohibit such payments. The arbitrator was asked to rule on the eligibility for a post-retirement HCSA. The arbitrator considered whether retirees were required to be Canadian residents to receive the reimbursements for medical and dental expenses. The employer argued that under the administrative services only (ASO) arrangement, employees were required to be Canadian residents to receive benefits, a position the union rejected. The arbitrator noted that while the collective agreement contains several eligibility requirements for the HCSA, a retiree’s residency is not one of them.
LEGAL RIGHT TO DISCONNECT DEBATED The federal final report of the ‘Right to Disconnect Advisory Committee’ indicates that there is fundamentally substantial divergence on how the federal government should proceed, says an Aon ‘Radar.’ This included debate as to whether a legal requirement for the right to disconnect should even be pursued and on the issue of deemed work. However, despite this, the report does set out some recommendations which reflect consensus among committee members. It says any right to disconnect should be crafted in such a way to ensure that employers retain the ability to contact workers in emergency situations and to communicate critical health and safety information, As well, the federal government should facilitate the sharing of best practices and improve data collection on this issue. Consensus was found that employees should be paid for work performed; establishing a positive work-life balance is a key goal of both employers and workers; and there is a need for flexibility for both workers and employers.
MEDICINE REIMBURSEMENT CONSISTENT ACROSS COUNTRY Reimbursement for medicines reviewed by the Canadian Agency for Drugs and Technologies in Health (CADTH)’s Common Drug Review (CDR) process between December 16, 2003, and June 30, 2019 is fairly consistent across most of Canada’s public drug plan formularies, says the Patented Medicine Prices Review Board (PMPRB). The third and final part in its ‘Alignment Among Public Formularies in Canada’ series compares formulary coverage across Canada’s public drug plans for 307 medicines. The analysis also looks at listing and agreement rates in specific market segments, including biologic and small molecule medicines, single- and multi-source medicines, and expensive drugs for rare diseases. The findings show that individually, provinces listed an average of 65 per cent of the selected medicines and 88 per cent when corresponding sales were factored in, which indicates that the medicines not covered by the plans accounted for only a small share of national sales. These listing rates varied only slightly across the market segments analyzed. Most notably, with the exception of a few smaller public drug programs, listing rates for expensive drugs for rare diseases were higher than those for other CDR medicines.
EMPLOYERS CAN PROVIDE ACCESS FOR CHILDREN Children need more access to online tools and services that can proactively help them address their mental health challenges and employers can benefit from playing a greater role in that process, says Matthew Segal, the creator of Charlie Wellbeing. An estimated 1.2 million Canadian youth are affected by mental illness and the demand for youth mental health crisis services is increasing 30 to 40 per cent per year. Youth mental health crisis is a significant workplace issue as employee performance and safety is being compromised by the distraction of family mental health issues, costing Canadian employers millions in absenteeism and lost productivity. Charlie Wellbeing provides teens with confidential online access to licensed therapists and psychologists via desktops, iPads, or mobile phones. Children join Charlie through their parents or their parent’s employee benefits program. |
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Groups rarely say this.
They often (and loudly) state “we are right,” but when the future arrives, and it always does, it’s not surprising that it turns out that many projections and predictions turned out to be wrong.
When smoking was banned in New York restaurants and bars, the trade associations vehemently protested, insisting that it would doom their businesses. It turned out to be a benefit instead.
All we can hope for is for an individual to say, “based on new information, I’ve made a new decision.” While it might be satisfying for a group to publicly acknowledge what they’ve learned, waiting for this is a waste of time and energy. The alternative is to help a person make a new decision instead.
My Take on Seths Post
Put another way...There is nothing wrong with being wrong. It happens. We are human. The error may be due to a miscommunication, a lack of the proper knowledge or a simple misunderstanding. Own up to it, and move forward with a solution or fix. Clients understand that we are not 100% perfect (also this is why we have E&O and insist on them getting PALC).
An example of this is when we discuss "mandatory contracts". Advisors often ask..."How do I go back to the policy owner and say that they need to have 100% participation when I set the plan up as 75%?". SIMPLE. Just say..."based on new information regarding the increased litigation by employees against their employer (around benefits), we have a solution that will better protect you, and we think it important to make this change. |
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EDUCATIONAL EVENTS
ONLINE CE CREDITS
Looking for benefits dedicated online CE courses? Want to provide your admin and support staff with basic knowledge? Want to dig into something more detailed for your benefits/insurance business? Business Career College (BCC) has an extensive catalogue of online CE courses with a number of group benefits specific courses covering topics ranging from contractual concerns, plan designs, and underwriting requirements, to product specifics and integration with government benefits. Courses consist of narrated videos with short, online quizzes. The full catalogue includes over 60 courses, podcasts, and videos covering topics from the world of insurance, investments, financial planning, taxation, and ethics with a focus on technical content and real-world application. Courses are accredited for the maximum categories of credits and can include provincial Life and A&S credits, FP Canada, Advocis, and more! Use code CGIB on registration for your first three months free! ____________________________________________________________
The BC Insurance Council now offers online continuing education (CE) courses that are available for registration through Insurance Council’s online portal. Once courses are registered through the online portal, they can be accessed through the newly launched Learning Management System (LMS) with CE certificates ready for immediate download upon course completion.
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The Benefits Trust presents....
Why Online Marketing in 2022 is Critical to Build and Maintain Your Benefits Practice Special Guest Speaker: Ben Molfetta - Core Online Marketing March 2nd, 10:00 am
Full details and booking HERE... ___________________________________________________________
SESSION LOOKS AT BIOSIMILARS ___________________________________________________________
A New Era of Innovation As the pandemic has profoundly altered our lives and our society,it has also brought about unprecedented innovation and stakeholder collaboration. What lessons have we learned, and how do they impact the benefits and pharma industries? What can we do today to create a better post-pandemic future for the health and well-being of Canadians?
AboutGIPC: The Group Insurance and Pharmaceutica lCommittee(GIPC) was founded in 1997 as a joint educational initiative by representatives from the pharmaceutical and group insurance industries.
Join usApril12 from 11:00 to 12:00 p.m. ET for a special GIPC event on industry innovation and the importance of collaboration in advancing employer-sponsored health benefits.
This event is FREE to attend.
Event Registration or visit www.gipc.ca ____________________________________________________________ CHANGING LANDSCAPE EXAMINED ‘The Changing Risk Landscape: Trending Solutions for Plan Sponsors’ is the focus of a Benefits Breakfast Club session. The presenters will explore several chronic diseases and discuss their impact on patients and on benefit plans, plus what insurers, advisors, and plan sponsors can do to proactively work with patients to detect these conditions early and manage them for optimal health outcomes. It takes place March 24.
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Last year, Benefits Canada created Tech Insights as a platform for presenters to explicitly showcase the depth of their technological innovation. It’s a deeper dive into a product’s intricacies – and illustrates to attendees what makes an offering different and unique from other companies’.
Go shopping on Apr. 14 at this free event designed to show off the latest in benefits technology solutions for plan sponsors and/or their plan members. Attendees will learn about a variety of benefits products to help make the most informed decision possible.
Stay tuned for agenda announcements in the coming weeks. REGISTER NOW ___________________________________________________________
For the past 18 years, the TELUS Health Annual Conference has been an industry-leading source of insight and trends across the private payer ecosystem.
Get the most up-to-date drug and benefits data trends for 2022, the latest developments in the industry and what it means for you. Review and implement plans that suit your customers’ ever-changing realities. Why attend? You’ll get... • Comprehensive data trends and national benchmarks • Informative and topical presentations on industry trends • Continuing education credits • Virtual networking opportunitie Save the date! (Registration will open in the spring, and an actual invite will follow.) Join us on May 10 & 17, 2022* ___________________________________________________________ PAYROLL ASSOCIATION ROARS BACK The Canadian Payroll Association national conference will be offered in-person and virtually. ‘Roaring Back’ will feature speakers such as Andrew Au, the co-founder of Intercept, who will provide a real-time glimpse into how leading global organizations are redefining their future of work strategies and Anna Olson who will share her culinary journey. It takes place June 8 to 10 in Niagara Falls, ON. Information is at https://conference.payroll.ca/ |
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Need help? Have questions? Looking for something?
Reach out to CGIB - Dave Patriarche - dave@cgib.ca - 905-886-9203 |
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