Dear Subscriber,
I'm loading this newsletter early, as I'll be in Africa the day it would normally be sent out. You'll hear more about the trip when I get back, but if you're interested in learning about the charity and our fundraising event on December 1st, go to HATN.org
A few things of note in this newsletter. - A sponsorship opportunity is available for our next workshop
- Hold the date for the Plan Admin Checklist workshop on April 19th
- The next issue of the Navigator Podcast is now up
- We've added a few coffee chat dates to add to your calendar
If we can help make you more effective, efficient or successful, reach out and let us know how.
Keep doing great things and look for more in the December news. Dave |
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OUR EVENTS
This is a regular event sharing and discussing all things group benefits. A huge thanks to Jason Watt (he/him) CD CLU for making this possible.
Watch our newsletter and website for upcoming episodes and details. ____________________________________________________________ WANT TO PROMOTE YOUR OFFERING TO BENEFIT ADVISORS?
Looking for an opportunity to promote your firm to a room full of benefit advisors? This may not be of interest to advisors, but you may want to consider passing along to your provider partners.
Sponsorship for our upcoming Workshop in Toronto (April 19th) is open.
Canadian Group Insurance Brokers (CGIB) has been running in-person educational seminars for 14 years. The past events have been extremely well received, with many sponsoring year after year. If you'd like info on the Toronto (Vaughan) event sponsorship CLICK HERE
The target audience for these events are brokers that specialize in employee benefits. The meetings encourage open discussions and are VERY interactive. Attendees want to be there and are interested in the information being conveyed. As such, it presents you with a very affordable opportunity to promote your firm, that requires very little manpower on your part.
The sponsorships will be granted on a first come, first serve basis, and fill up quickly, so please reach out ASAP if you are interested. Get a head start on 2023 now! ____________________________________________________________ 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 November 24th @11am (EST) - moved earlier to avoid conflicts Tuesday December 6th @2pm (EST) - CHIP Plan focus Thursday December 22nd @2pm (EST) (festive seasonal get together?) Thursday January 5th @2pm (EST) Tuesday January 31st @2pm (EST)
____________________________________________________________ BREAKFAST MEETINGS CGIB supports the volunteers that runs the breakfast meetings below.
Please find the details for your closest location below. Ajax, Cambridge, Edmonton, London, Markham, Oakville, St Catherines, Toronto, Vancouver Island, Windsor or the Virtual National Meeting
____________________________________________________________ Upcoming CGIB Events:
We've had some of the newer and a few longer term members ask for a repeat of the "Building and Using a Plan Administration CheckList" workshop. Some are looking to up their game, as a refresher, or for their support staff and others in their firms.
- This seminar is a must for those who specialize in employee benefits or that want to. Hundreds of brokers have attended this seminar with many making it an integral part of their business practice.
- We will help you create a checklist to utilize when you install new cases, train new plan administrators and conduct client renewals.
- Information reviewed will include: taxation, privacy, administration, HR issues and other items that will help reduce both broker and client liability.
- The content will assist you in adding more value to your client relationships and to move the discussion away from price to one of added value.
I guarantee that you will learn things to help attract new clients, maintain existing relationships and improve your practice.
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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 with documents, videos and information available in MEMBERS ONLY to make your life easier.
NOTE TO ALL SLACK USERS: We now have 70+ 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 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:
About hiring employees, but similarities to hiring a benefits advisor 1. What will it be like to work with you? 2. Can you learn? 3. Do you take initiative? ____________________________________________________________
November 3, 2022 Insurance Improves Access To Medications In 2021, 21 per cent of adults in Canada reported not having any prescription insurance to cover medication costs. This lack of coverage sometimes meant delaying or skipping doses because of an inability to afford medication or paying higher out-of-pocket costs, says Statistics Canada. ‘Pharmaceutical access and use during the pandemic’ shows non-adherence to a prescription because of cost was reported by 17 per cent of people without prescription insurance coverage, almost 2.5 times higher than those with coverage (seven per cent). Those without insurance coverage who took or were prescribed medication ended up spending more out-of-pocket, with 27 per cent spending $500 or more over the year preceding the survey compared with 16 per cent with insurance coverage. Without universal coverage of prescription medication, public drug plans offered by provinces can vary greatly in terms of eligibility, affordability, and drugs covered. As a result, the share of people reporting no prescription coverage varied considerably across the provinces in 2021, ranging from a high of 26 per cent in British Columbia to a low of 14 per cent in Nova Scotia.
November 4, 2022 Older Workers May Impact Benefits Employers may soon be forced to consider the impact of plder workers on their benefits plans, says Hugh Wright, a partner at Miller Thomson. He told the ‘Ensuring a Healthy and Discrimination-Free Workplace’ session at its ‘Labour & Employment Client Conference 2022: Fostering a Healthy Workplace’ that a number of cases are emerging about the intersection between an older workforce and benefits that are age-based. Over the last 40 years there has been a significant increase in the proportion of seniors working past the traditional retirement age of 65, he said, and there was a significant increase continuing through the pandemic. Human rights codes across the country generally prohibit age discrimination, but there are exceptions for benefit plans and pension plans. Typically, these say plans can deny benefits for those over age 65. However, the Canadian Charter of Rights and Freedoms prohibits any discrimination on the basis of age. The conflict can arise out of life insurance and LTD (long-term disability). With life insurance, there can be a contradiction between the policy bought by the company and the collective agreement. Arbitrators are prone to abide by terms of collective agreement so unless this includes language which stops the benefit at age 65, the employer may have to honour the terms of the collective agreement. LTD is a different matter and there is very little product available. However, while the charter overrides the age 65 benefit carved out in human rights codes, arbitrators face a challenge. And employers argue that the combination of an employer pension plan, the Canada Pension Plan, and Old Age Security means these older workers are often financially better than they would be on LTD. The Supreme Court of Canada has a two-step test for discrimination, said Wright. It needs to be established that there's been distinction on a prohibited ground – in this case, age – and also that it perpetuates prejudice or stereotyping. With LTD, while a case may be made on the basis of age, the fact the benefit is simply not available when you're over 65 means it does not perpetuate prejudice or stereotyping. And employers argue that the combination of an employer pension plan, the Canada Pension Plan, and Old Age Security means these older workers are often financially better off than they would be on LTD. The key points, said Wright, is employers need to get ready as a lot more of these cases are coming forward. Since arbitrators love to enforce collective agreement provisions, employers will want to review their collective agreements to ensure they are aligned with their benefits, especially if they want to turn to aging workers to deal with labour shortages.
November 4, 2022 New Brunswick Amends Catastrophic Drug Act The government of New Brunswick has introduced Regulation 2022-67 under the Prescription and Catastrophic Drug Insurance Act, amending the premiums and maximum co-payments residents will pay under the provincial drug, says an Eckler GroupNews. Changes to the plan include adjustments to gross income levels, premiums, and co-payments to reflect changes in inflation, drug costs, earnings, and cost of living expenses. The amendments also increase the number of income ranges from six to 21. The additional income ranges and premium levels are intended to provide a more gradual change when premiums increase and to eliminate large increases in premium payments in relation to a small increase in earnings. The lowest premium will be reduced from $200 a year to $66 per year. The changes do not affect the New Brunswick prescription drug program, which provides prescription drug benefits to eligible seniors, nursing home residents, and residents with specific prescription needs such as patients with cystic fibrosis, multiple sclerosis, and HIV/AIDS. The changes are intended to ensure a balance between affordability for eligible residents and cost to the government. The government hopes the changes will ensure the plan is sustainable and affordable and provides benefits coverage for the drugs residents need.
November 7, 2022 Doctors’ Notes Need Relevant Information Employers need to ensure they are getting relevant information in notes from doctors, says Zeinab Yousif, a partner at Miller Thomson. In the ‘Looking After The Mental Health of your Workplace’ session with Nadya Tymochenko and Veronica S. C. Rossos, partners at Miller Thomson, at its ‘Labour & Employment Client Conference 2022: Fostering a Healthy Workplace,’ she said they see so many vague notes and this lack of information takes away the ability assess how to accommodate an employee dealing with a mental health issue. Knowing the limitations means an accommodation can be designed that works. And while they cannot request a specific diagnosis, they need to ask the questions and overcome any unwillingness to get involved in an employee’s business. It can be as simple as providing the doctor with a job description as the doctor needs to consider the issue, not just repeat what the patient says. Doctors need to know their help is needed so the employee can be adequately accommodated. Tymochenko said there are signs that someone is struggling and sometimes they are dealing with issues they don’t recognize or are unaware of. Changes in their output, ability to converse, absenteeism, and behaviour uncharacteristic of that person are signs that they are not coping. Rossos said a healthy culture ensures conversations arise when an observation is made. But this starts with talking with employees on a regular basis and ensuring managers are constantly in contact with their employees and recognize when behaviour is different. With physical disability, the accommodation may be simple to provide. However, with mental illness an employee may need to be treated differently so they can fully participate. |
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Fair is often in the eye of the beholder. What you think is fair might depend on where you are in the transaction. Losers tend to think an outcome is more unfair than winners do.
But square?
The thing about square is that everyone can agree on that part. If something is fair and square, then the losers can concur with the winners, because square isn’t relative.
The secret is simple: if the calculations look the same regardless of what you’re rooting for, then you’ve found the method. The outcome should be unrelated to the method.
My Take on Seths Post
Put another way... I had to read this one a couple times to "get it", then it struck me that this is how we do renewals. Think about it....
We have a big renewal increase due to high claims. We show them that they gave the insurer $1.00 in premium and the insurer sends the employee $1.10 in non-taxable claim benefits. The renewal doesn't seem fair, but anyone would say they are square with it.
The secret is to get them on the same side, where it often ends up being...fair. |
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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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The Benefits Trust Educational Webinars...
You to a Few: Profitable Clients with 1 to 5 Employees (1.0 CE Credit)
A Few to a Bunch: Profitable Clients with 5 to 20 Employees (1.0 CE Credit) A Bunch to A Lot: Profitable Clients with 20 to 100 Employees (1.0 CE Credit)
Zoomcast Guidelines To ensure a lively discussion, we have a few guidelines that we’d like you to adhere to: - Only the first 100 registrants will get a spot for each Zoomcast.
- Please have your CAMERA ON and be ready to interact with others.
- Be prepared to engage in conversation. We want our Zoomcast series to be productive, insightful, and conversational, so please be ready to talk, ask questions, and converse.
___________________________________________________________ Join us as we explore many of the different Living Benefit solutions we have for small to medium sized businesses. The EDGE has been making many ground-breaking enhancements to our already wildly successful Living Benefit programs, helping you further support you clients.
Webinar topics and tools include: - Opportunities to increase your sales with income replacement benefits
- How income protection completes any financial plan
- EDGE’s multi-product discount, and how to help your clients get more coverage for less
- How EDGE is dominating the market in benefits for small to mid-sized businesses
- Effective strategies and turnkey digital tools for cultivating your client base and breaking into new markets
Webinars will be held on Tuesdays and Wednesdays throughout October and November. To register, please visit our event calendar. EDGE webinars are free to attend and count toward CE credits.
Evening Sessions Tuesdays, 8-9PM EST Nov 22: Small Business Benefits Solutions Nov 29: No Medical CI Solutions
Day Sessions Wednesdays, 12-1 PM EST Nov 16: No Medical CI Solutions Nov 23: Disability Solutions for Small Business Nov 30: Natural Markets and Prospecting
_______________________________________________________ Benefits Best Practices Examined ___________________________________________________________ CONFERENCE EXAMINES BENEFITS The 2022 International Foundation of Employee Benefit Plans’ ‘55th Annual Canadian Employee Benefits Conference’ will look at topics such as putting risk analysis to good effect, funding benefit plans properly, and the aging workforce and its impact on benefit plans. Speakers include Hugh Wright, a partner at Miller Thomson; Karen DeBortoli, a principal at Buck Canada HR Services; and Judy Plotkin, vice-president of health solutions at People Corporation. It takes place November 20 to 23 in New Orleans, Louisiana.
Information is at: ___________________________________________________________ CPBI SHOWCASE SERIES - Attention Deficit Hyperactivity Disorder - A growing mental health trend for group benefits November 23, 2022 AT 1 PM Eastern Time - 2 PM Atlantic Time - 10 AM Pacific Time Join us on November 23rd for apresentation by Sun Life, when Denuja Raventhiran, Senior Pharmaceutical Benefits Strategist, Pharmaceutical Benefits & Innovation, will discuss attention deficit hyperactivity disorder (ADHA), a growing mental health trend for group benefits. She will look at drug data and paramedical trends, and review tools and resources that can help your organization.
COST : COMPLIMENTARY ___________________________________________________________ Thursday, November 24, 2022 - 2:00 pm to 3:00 pm EST
Group insurance is an important pillar of employee benefits programs, and it’s more than ever an essential asset for attracting and retaining employees. Organizations are also concerned about striking the right balance between sound management to slow down the increasing costs and an innovative and comprehensive product and service offering.
In this webinar, Frédéric Leblanc, Strategic Leader, Drug Programs at iA Financial Group, will address the issue of managing plan costs by presenting the latest initiatives related to the management of biosimilar drugs. He will also provide insights into various preventive measures that can be put in place to prevent health problems from turning into illness or disability. Charles Déragon, Product Leader, Disability, Life and Critical Illness at iA Financial Group, will address the issue of prevention from the perspective of health and wellness services and programs to meet the challenges of organizations and the expectations of their workers. Don't miss this opportunity!
__________________________________________________________ Benefits Canada’s Face to Face Drug Plan Management Forum has been running for over 17 years and is the industry’s most popular drug benefits conference.
December 6, 2022 - Sheraton Centre Toronto
This year, attendees can look forward to being back in-person and face to face! Join us to learn about fresh drug plan design insights, including a new drug launch panel and a full day of educational sessions presented by industry experts. |
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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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