Dear Subscriber,
Happy December. It seems like the year is just flying by and we're hurtling down the home stretch and staying just as busy as ever. I hope you all get some down (or away) time over the holidays.
I'm just back from our Africa trip and have a new appreciation for the gift we have of being born in, or choosing Canada as our home. Sure we have issues in healthcare, but after touring a small community hospital in The Gambia, I realize just how lucky we are. Want to see a bit about out trip? CLICK HERE
A few things of note in this newsletter. - A new Navigator Podcast is out
- Hold the date for the Plan Admin Checklist workshop on April 19th
- A sponsorship opportunity for the event above
- We've added a few coffee chat dates to add to your calendar, lots of reading and a few events.
If we can help to make you more effective, efficient or successful, reach out and let us know how.
Keep doing great things. 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.
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) Tuesday February 14th @2pm (EST) - The Valentines Day edition Thursday March 2nd @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:
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November 11, 2022 Specialty Drug Cost Keeps Rising Specialty drugs now account for 75 per cent of all new drug review and this keeps growing year after year, says Marie-Hélène Dugal, manager, pharmacy benefit strategy at Medavie Blue Cross. Speaking at its ‘Striking the Right Balance: Solutions to Drug Management Challenges’ session, she said this is the area where drug manufacturers are investing. They are looking for therapies for people with diseases where there are currently no treatments. However, they do want to recoup their investment. Since there are fewer incidences of these diseases, prices for these drugs need to be higher. So while they only represent one to two per cent of claims, they are responsible for 35 per cent of the costs and the cost is rising faster than for traditional drugs. For 2021, their price increased 6.8 per cent compared to four per cent for traditional drugs. However, these drugs are now starting to be used for more common conditions like asthma, cholesterol, Alzheimer’s, and eczema. They can offer a better quality of life and a faster return to work and some even cure people.
November 23, 2022 PMPRB Report Misleads Innovative Medicines Canada (IMC) is once again disappointed by the inaccurate and misleading information on the value of innovative medicines in the Patented Medicine Prices Review Board's (PMPRB) 2021 annual report. Given the board’s ongoing lack of recognition of the research-based pharmaceutical sector's role in the health outcomes of Canadians and its contribution to the economy, IMC calls on the Canadian government to immediately suspend the current abbreviated and inadequate PMPRB draft guidelines consultation process and replace it with a whole-of-government approach. This broader consideration would allow for an impact assessment of the revised guidelines on Canadian access to innovative medicines. In 2021, Canadian prices remained in the middle of PMPRB's basket of comparator countries, with median international prices being 12 per cent higher than Canadian prices. The latest report notes that "prices for existing medicines are fairly stable" which suggests that innovative medicines sold in Canada are not excessively priced and are not materially increasing in comparison to the Consumer Price Index.
November 25, 2022 International Business Travel Returns International business travel is returning after the pandemic, but that doesn’t mean it’s back to the old ways, says a Mercer ‘News & Notes.’ Between health risks, geopolitical concerns, and rampant inflation, supporting employees abroad requires a human-centric strategy and data-powered analytics to make it a positive experience for everyone. For employees, 33 per cent remain apprehensive about business travel after the pandemic, while 34 per cent would consider a short ‘workation’" (working out of a holiday villa or new city). However, 26 per cent believe that taking an international assignment has historically helped people advance. It says it’s clear that employees are beginning to think differently about how they can tap into new opportunities, but traditional overseas assignments may not be as attractive as they once were. By setting up flexible international assignment programs, employers can help their people to grow inside the organization, attract new talent, and match roles to employees while meeting them on their own terms. |
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_______ is [Always/Never] the solution to a problem.
In my experience, “always” and “never” are rarely useful ways to approach a problem. “Sometimes” requires nuance and insight and discovery. It might not be the lazy response, but if you’ve got a problem, it might be worth thinking about how to solve it.
My Take on Seths Post
Put another way...I've often heard advisors say things like... "HSA's are the solution to all benefit problems" or "Traditional insurance is never the solution when ASO is available" OR "All plans need a drug cap as a solution to rising costs". They all have merit in some circumstances, but seldom fit all situations.
I like problem solving in benefits and it's never one size fit all. I like... "Sometimes, an exclusionary formulary is the solution, depending on where your employees are" OR " Sometimes a hybrid plan like CHIP might be the answer, to give flexibility and control costs"...
We live in a world of "maybe", "sometimes" and when you add the employment law side of things "It depends" is pretty common, and THAT is exactly where we add value. |
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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...
A Bunch to A Lot: Profitable Clients with 20 to 100 Employees (1.0 CE Credit) December 6th, 10 am
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.
___________________________________________________________ Dec. 6th, 2022 - Sheraton Centre - Toronto
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.
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.
__________________________________________________________ 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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