Dear Subscriber,
It's been another whirlwind of weeks as we seem to rush into summer.
I've had lots of chats with advisors concerned about the National Pharmacare and Dental care initiatives and the repercussions it may have on our industry. In fact, I was out in Calgary speaking about that topic (and others) and am doing another session for Ontario Chamber advisors where we'll touch on it.
The long and short of it is...I'm not concerned. IF (and that's a BIG if) these programs get off the ground, the effect on employers will likely be quite low, but could even be a positive.
Overall, I think many of you are seeing great business growth, even if unintended. The recent LIMRA reports that group health benefit sales were up 14 per cent from 2020. Long-term disability benefit sales up 8 per cent and life insurance up 22 per cent in 2021 compared with the previous year. Overall, group insurance sales in terms of new annualized premiums grew by 9 per cent in 2021 versus 2020. Not bad...not bad at all.
...let's just hope that we get some downtime to enjoy the summer.
Dave |
|
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 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.
____________________________________________________________
Looking for...
If you are interested in hiring a Sr. Group Service Rep / Account Manager, my candidate has 11 years of experience. Working in a brokerage environment, she has handled client service issues & questions, marketing for new business & existing clients, new case installation, provided new & ongoing client orientation, recognized & devoted special care to endangered/pampered cases as required.
My clients would like to hire a Group Retirement Consultant with 8+ yrs. experience in DC plans, providing consulting services & advice on program design, investments, provider search & implementation, member communications, plan oversight, governance and an Account Manager with 3+ yrs. Group Benefits & Retirement experience in managing a book of business, handling renewals & presentations, plan design analysis and client transition process for new & existing clients.
____________________________________________________________ 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 |
|
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. |
|
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. |
|
Suggested Reading:
________
FSRA CHANGES WHISTLE-BLOWER PROGRAM The Financial Services Regulatory Authority of Ontario (FSRA) is introducing a new whistle-blower program to help identify misconduct in the non-securities financial services and pensions sectors. The initiative will offer enhanced protections for those willing to come forward. It says whistle-blowers are a valuable source of information and this program and new guidance will assist individuals and entities who want to come forward by helping determine who qualifies as a whistle-blower and who will receive protection. The program will apply to any individual or entity who comes forward in good faith with valuable, timely, and non-public (i.e., insider) information related to an alleged or intended contravention in any of the sectors FSRA regulates. The program protects the identities of whistle-blowers from disclosure as well as reprisals (i.e., being fired, demoted, or disciplined, etc.) and from liability in civil proceedings.
TAX CREDIT OFFERED FOR FERTILITY TREATMENTS The government of Nova Scotia has announced a refundable tax credit equal to 40 per cent of the costs of fertility treatments or surrogacy-related medical expenses provided by a Nova Scotia-licensed medical practitioner or infertility treatment clinic, says an Eckler ‘GroupNews.’ This makes it the first province in Canada to introduce support of this kind for residents. The ‘Nova Scotia Fertility and Surrogacy Rebate’ was first proposed in the 2022/2023 provincial budget. The rebate will allow eligible Nova Scotians to claim costs up to $20,000 annually, which will result in a maximum annual tax credit of $8,000. There is no limit on the number of treatments an individual can claim. If the medically needed services are not offered in Nova Scotia, a licensed practitioner in Nova Scotia can refer a patient elsewhere. The ‘GroupNews’ says individuals struggling with infertility issues can experience a significant negative impact on their mental health and work productivity. The significant costs for fertility treatments make it unlikely that many private plans would provide complete coverage so the tax rebate will provide some relief for plan members who incur these costs.
CANCER TREATMENT DELAYS COULD REVERBERATE FOR YEARS Cancer is the leading cause of death for people in Canada and the pandemic has created delays in testing, diagnosis, and treatment that could reverberate for months or years, says a Telus Health ‘Benefits Hub.’ For the past two years, discussions around employee health have focused on mental wellness and post-pandemic resilience. But it says employers are also facing what some are calling a shadow pandemic of serious acute and chronic illnesses, including cancer. In fact, 68 per cent of large employers expect to see more late-stage cancer diagnoses among plan members. Plan sponsors aren’t the only ones worried about a spike in late-stage cancers; physicians are reporting that patients are showing up with more advanced disease, while 48 per cent of plan members admit they avoided seeking treatment for various complaints during the pandemic. It’s not yet clear what the implications of cancelled or delayed mammograms, pap tests, and colonoscopies will be. However, where patients did seek care, there were significant delays in diagnosis. Nearly a quarter of Canadian cancer patients say they experienced a delay in their diagnosis because of the pandemic and almost one in five reported a delay between diagnosis and treatment. Among those being treated, almost half had appointments cancelled or postponed. Forty-three per cent of plan sponsors say they’re worried about claims for serious diseases and chronic conditions that may have worsened during the pandemic. To support plan members who are facing a cancer journey, employers can remind employees about the importance of healthy lifestyles and regular screenings; offer accessible, virtual, and in-person clinical care from experienced physicians and specialists; and review employee assistance programs to ensure they address the long-term health and financial impacts of a cancer diagnosis.
AUTHENTIC CONVERSATIONS NEEDED ON WELLNESS The Ontario Association of Social Workers (OASW) is encouraging workplace leaders to start real, authentic conversations with their colleagues in order to promote a culture of workplace wellness. This is a piece of advice to safeguard mental health in the workplace, it says. “There is a significant, ongoing mental health and addictions crisis in Canada,” says Dr. Deepy Sur, OASW chief executive officer. “And it’s important to know that the challenges people are facing have not been resolved just because we’re entering a new phase of the pandemic. As people return to the office, we’re going to need to be mindful of this context and adopt new practices for the long-term.” Its top tips to promote wellness in the workplace include providing mental health awareness training, leading with empathy, extending more trust, increase mental health coverage in workplace benefit plans. It says the average value of workplace benefits for those fortunate enough to have them is $750 per year, an amount that is used up in just a handful of visits with a therapist. It is calling on employers to introduce stand-alone mental health coverage in their group plans worth a minimum of $1,500 per employee.
PHARMACISTS CAN TREAT MINOR AILMENTS The government of Ontario is giving pharmacists the authority to assess and treat minor ailments such as urinary tract infections, eczema, pink eye, and muscular strains and sprains, says an Eckler ‘GroupNews.’ The expansion of pharmacy services to treat and assess minor ailments should improve access to care as potential patients will now have the option of visiting a local pharmacy rather than waiting for an appointment with their primary care provider (assuming they have one) or going to a walk-in clinic, it says. Access to more immediate care through a pharmacy may also reduce the number, frequency, and length of absences during work hours that is typically associated with scheduled medical appointments.
IMPLEMENTING COST CONTROLS CAN BE CHALLENGING Cost-control programs under benefit plans are becoming more common as employers and benefits providers grapple with rising drug costs and premiums. However, implementing cost-control programs in unionized workplaces may prove challenging depending on the language in the collective agreement, says a Fasken ‘HR Space’. A recent British Columbia labour arbitration decision provides insight regarding permissible benefits cost-control measures in a unionized workplace, it says. In this case, the employer opted into a cost-control program which removed drugs with a Drug Identification Number (DIN) previously automatically covered until the benefits provider had completed a cost-effectiveness review of the drug. The goal of the program was cost containment of drugs benefits. The union grieved, alleging the cost-control program violated the collective agreement because it would effectively result in a reduction or limitation to the benefits currently available to bargaining unit members and the union had not been consulted regarding the change. The arbitrator found this would effectively constitute a reduction in the level of drug coverage and represented a substantial change to the level of coverage under the plan. This means prior to implementing any benefits-related cost-control programs, employers are advised to carefully review the collective agreement and existing benefits policy to determine if the changes could violate it. |
|
If 2% of a population takes coordinated action, it makes a difference. If 5% do, it can change everything.
This simple math also means that most people rarely do anything. Perhaps they don’t care. Perhaps they’re afraid to speak up and commit. And perhaps it’s simply easier to go along for a free ride.
Of course it hurts when friends and colleagues we thought we could count on shirk and hide. But everyone has their own narrative, their own issues, their own fears. We can say, “if I were you,” but we’re not them, they are.
When we focus on the ones who didn’t help, we’re undermining our work. It’s a distraction and a disservice.
Shun the non-believers. Ignore the well-meaning but unmoved. Instead, we have the chance to find and connect and celebrate the people who care enough to make a difference. Toward better.
My Take on Seths Post
Put another way... We can all make a difference. Just because we are not aligned is not a reason to give up. Let's all push to make this industry better.
Another Post...
Coiling ropes Professionals put things away slowly so that they’ll be ready quickly when needed. Investing time now for time later.
I just love this sailing reference, as I often share how being a sailor makes me a better advisor. I'll now have one more example to add to my 6P's (Prior Proper Planning Prevents Poor Performance). What's your thing? |
|
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! |
|
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 17, 2022* Day 2 ___________________________________________________________
PHARMACOGENETICS BARRIERS OUTLINED ___________________________________________________________ 11th Annual Proactive Workplace Law Webinar: Coming out of the Pandemic Organizations are encountering different challenges in today’s workplace as we are Coming out of the Pandemic. So much volatility and uncertainty has impacted organizations, including in the law where significant shifts and novel circumstances have changed the nature and scope of employer obligations on many fronts. Ensuring your organization is up to date on the status of workplace legal requirements, on the other side of the pandemic, is not only important for compliance reasons. Not meeting employment law obligations and entitlements can undermine employer credibility, impact employee perceptions of fairness, erode trust and destabilize employee retention, which are all crucial to organizations in our current reality. With this in mind, we are inviting you to join us for this year’s 11th Annual Proactive Workplace Law Webinar, where our focus will be to provide you with key developments in the critical areas of HR law to ensure you have your “house in order” as we come out of the pandemic. During this 2.5-hour, interactive webinar, the Williams HR Law LLP lawyers will share their insights and identify how to avoid risks, including in the areas of employment standards, human rights, health and safety, workers’ compensation, and workplace investigations, among others. Key strategies, practical considerations and actionable takeaways will be shared to help your organization avoid pitfalls, address exposures to liability, adopt effective policies, and properly communicate expectations as we emerge from the pandemic. This webinar will include a Q&A segment where attendees will have the opportunity to pose questions. We look forward to you joining us! DATE: May 31, 2022 TIME: 11:00 EST COST: $75 + HST ___________________________________________________________
BENEFITS FUNDAMENTALS OFFERED ___________________________________________________________
BENEFITS AND UNDERWRITING EXAMINED ___________________________________________________________
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. |
|
Need help? Have questions? Looking for something?
Reach out to CGIB - Dave Patriarche - dave@cgib.ca - 905-886-9203 |
|
|
