Dear Subscriber,
Happy Spring (ish). We've had cooler weather here in the Toronto area, but nothing as bad as our counterparts in the Prairies that have had blizzard like weather and drifts keeping them working from home. Hopefully there is better weather around the corner and we'll all be able to get out in the yards, parks, trails and out on the water soon enough..
Not much to say in this newsletter, so keeping it short.
I hope you all had a great long weekend.
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.
Monday May 2nd @ 2pm (EST) Monday May 16th @ 2pm (EST) Thursday June 16th @ 2pm (EST) Tuesday June 28th @ 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.
____________________________________________________________ Upcoming CGIB Events:
Hold the date for these upcoming events, and watch for details HERE.
Toronto Seminar - Wednesday October 5th - FULL-DAY Agenda to be determined
Calgary Seminar - Tuesday October 18th Plan Administration Checklist & Employment Law Workshop - TBC
Vancouver Seminar - Thursday October 20th 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 10% 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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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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Suggested Reading:
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DOMESTIC PRODUCTION NEEDED FOR GENERICS While the Canadian Generic Pharmaceutical Association (CGPA) supports efforts to improve prescription drug coverage, governments must also ensure that Canadians have a more secure supply of prescription medicines by supporting enhanced domestic production capacity and a more resilient supply chain. In response to the 2022 budget commitment for the federal government to continue its ongoing work towards a universal national pharmacare program, Jim Keon, president of the CGPA, says the ongoing sustainability of the healthcare system and drug benefit plans is highly dependent on the increased use of generic prescription medicines. Generic prescription medicines are dispensed to fill nearly three-quarters of all prescriptions in Canada, but account for less than 21 per cent of the $35 billion Canadians spent annually on prescription drugs. Making them more affordable and accessible is the key value proposition of Canada’s generic pharmaceutical industry. It is estimated that a one per cent increase in the use of generic medicines Canadians would have saved an additional $704 million last year alone. However, a study by EY Canada, commissioned by CGPA, reports that, over the past three years, there has been a 34 per cent decline in the total number of generic medicines manufactured in Canada from 1,061 in 2019 to 700 in 2021. In addition, almost all active pharmaceutical ingredients (APIs) used to manufacture generic medicines in Canada are imported from 45 countries around the world, with more than 60 per cent coming from India and China. With global supply chains becoming increasingly complex, disruptions and shortages of prescription medicines could result.
COVID-19 GUIDANCE CHANGES DRASTICALLY As Canadians and others around the world have confronted the Omicron variant, the rules and guidance relating to COVID-19 and COVID 19-vaccines have drastically changed, says the Fasken ‘HR Space’. A decision in Power Workers’ Union v Elexicon Energy Inc. provides insight into whether COVID-19 vaccine policies will be assessed differently in light of the current shifting landscape. The key takeaway from Elexion is that what’s permissible today might not be permissible tomorrow. In other words, the legality or permissibility of an employer’s COVID-19 vaccine policy may be heavily impacted by the COVID-19 climate at the time it is assessed, not just by the historical climate in which it was implemented. However, employers need not abandon their vaccine policies just yet. With future waves of COVID possible, having a consistent policy is easier to manage than constantly introducing and repealing policies. However, employers should be prepared for their COVID-19 vaccine policies to come under stricter scrutiny. To prepare for this, employers should immediately review their COVID-19 vaccine policies and consider whether the standards and expectations set out in them still make sense and set reminders to prompt them to review their COVID-19 vaccine policies on a regular basis. If parts of the policies have become inapplicable, impractical, or are unlikely to be effective, employers should amend them.
STAND-ALONE MENTAL HEALTH COVERAGE NEEDED The Ontario Association of Social Workers (OASW) is calling on employers to introduce stand-alone mental health coverage in their group benefits plans worth a minimum of $1,500 per employee. More than half, or 52 per cent, of respondents in a recent poll conducted for the OASW by Leger said that cost was the top barrier in seeking help for their mental health challenges. Despite the growing demand for help, only one in three respondents (or 36 per cent) to the poll reported having access to a benefits plan that included coverage for mental health. As well, the current median coverage for mental health counselling through benefits is $750, an amount that can be used up in a handful of visits. “People who are lucky enough to have those mental health benefits find out very quickly they are insufficient,” says Dr. Deepy Sur, CEO of OASW. Mental illness costs Canadian employers more than $6 billion annually in lost productivity and accounts for 70 per cent of all workplace disability costs. The benefits to organizations of additional mental healthcare are increased productivity, higher employee engagement, and, ultimately, more profitability.
PHARMACARE FACES ‘INCONVENIENT REALITY’ If the pharmacare legislation follows the advice from the Advisory Council on the Implementation of National Pharmacare to enshrine the Canada Health Act principles and national standards of pharmacare to provide for a dedicated funding arrangement, it faces an “inconvenient reality,” says Chris Bonnett, principal of H3 Consulting, in a ‘C.D. Howe Institute Intelligence Memo.’ Private payers, mostly employers, spend more than $13 billion annually for prescription drug insurance. Those plans consistently earn high levels of satisfaction from more than 23 million Canadians. However, they have become institutionalized and are almost never considered in national drug policy and program decisions. The most important problem remains, he says, in the “lack of good quality universal drug insurance. There are no precise numbers, but millions of Canadians experience drug costs that are too high relative to their incomes. Those people should be the targeted priority.” Instead, the current Liberal-NDP agreement implies a cumbersome, fully public solution “mismatched to the problem.” While inadequate drug insurance is an unsolved and growing problem for many Canadians, it is not clear if, or how quickly and completely, the Liberal-NDP agreement might solve the drug insurance problem. At the moment, it appears that a public single payer national pharmacare plan has been resurrected, with those favouring a universal mixed-payer model are largely outside the public policy tent. |
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The worst golfer in town came in last in the club tournament.
Actually, that’s not true. The worst golfer didn’t even enter.
Well, that’s not true either. The worst golfer doesn’t even play.
My Take on Seths Post
Put another way...
Who do we compare ourselves to? Do we look at the Masters and compare with those players, to the local club pros, or to the person just learning the game?
The way we compare ourselves in business is also interesting. Lately, I've had many advisors reach out to say that they feel pressure to sell out. That, if they don't sell to an amalgamator, that they may not be able to compete. The size of these companies means...they just can't compete.
I've had others say that if a national pharmacare and dental program are launched, that will be the end of their business.
Why after so many years in business, do so many great advisors all of a sudden think so little of what they have to offer? Why are the independent advisors all of a sudden comparing themselves to billion dollar companies?
In Canada 98% of firms are under 100 employees. 95% are under 50 employees and 87.5% are under 20. Why not be a great, value adding advisor to the <20 employee market? With an average plan and a benefit cost of around $4,000/ee/year, a 20 life group costs about $80,000 and pays about $7200 in commission (CGIB scale). The amalgamators are ignoring this sector of employers that are very loyal and need handholding more than any others. |
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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! |
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TOTAL REWARDS CERTIFICATE OFFERED ___________________________________________________________ Canadian Benefits Certificate Program - Online Course
offered by CPBI Ontario in partnership with the Human Resources Professionals Association
Starts: May 4, 2022 at 9:30 AM - Ends: May 13, 2022 4:00 PM
The Key to Attract and Retain Key Talent
Gain a clear understanding of Canadian Group Benefits. Benefits form an important part of an employee’s compensation program and play a valuable role in attracting and retaining key talent. Now you can get a comprehensive overview of benefit programs in Canada with this course.
What will I learn? After completing the certificate program, participants will have the skills and information required to:Understand the basics and develop better strategies Manage your programs more effectively Keep escalating costs under control
Price HRPA and/or CPBI Members: $1650 + Taxes Non-Members: $2060 + TaxesJoin CPBI-ICRA to save $410 now and much more! (regular membership $325 + taxes) ___________________________________________________________ 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* ___________________________________________________________
PHARMACOGENETICS BARRIERS OUTLINED ___________________________________________________________ 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/ ___________________________________________________________ Wednesday June 29th at noon EST - Meeting details to follow.
Session: An Introduction To Managing Global Benefits This session is aimed at providing a starting block for advisors to start the conversation with HR professionals around managing global benefits. The session will cover the factors a company should consider when starting building out global benefits with a focus on the following themes; - Staying compliant
- Controlling Costs
- Managing colleagues expectations and curbing internal enthusiasm
- Implementing an appropriate strategy which will account for your business’ culture
- Creating a culturally aligned employee benefits program for a growing multinational workforce
Lewis Mosley - DIRECTOR Benefits Advisory Services Ltd Lewis is a Director and lead Global Consultant at Benefits Advisory Services Ltd. He has over 10 years’ experience working within the global employee benefits space, most of which have been spent advising North American multinationals on all aspects of their global benefits, from their first overseas hire’s benefit program in a new country to managing 30+ countries with merger & acquisition heritage. ___________________________________________________________
ClaimSecure is pleased to announce our 2022 eLearning series. Below is the schedule with the dates and times for the webinars.
We will be sending the registration links two weeks prior to each webinar.
The first webinar in our eLearning series will take place on March 16th, 2022 and the registration link will be provided to you on March 2nd, 2022.
We hope you will enjoy our 2022 eLearning series and we will look forward to your feedback. |
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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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