Dear Subscriber,
Happy Valentines Day. Don't forget to tell those that you love...that you do. It means a ton and combined with a hug...goes a long way.
As always there is lots going on in our world. We are seeing interesting court cases affecting benefits ( the BC Supreme court case), the CRA going after "independent/not" truckers, and the Ontario ESA removing tech consultants under certain conditions. Your advice and counsel to clients has never been more needed, or important.
We are also sold out for the April workshop (okay 2 seats left, but likely gone by the time I send this). If you want a repeat, or failed to make this one. Let me know and we can try and arrange another. As a note, I'll be doing a version of this workshop in Vancouver in the fall, so watch for that. 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.
Our last episode featured a conversation with Dr. David Stevenson on the "Changes in the Dental Space in Ontario".
Watch our newsletter and website for upcoming episodes and details. ____________________________________________________________ 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 2nd @2pm (EST) Tuesday March 14th @2pm (EST) Thursday March 30th @2pm (EST) Tuesday April 11th @2pm (EST) Thursday April 27th @2pm (EST)
CGIB Members may join the meeting at the time above by visiting... ____________________________________________________________ BREAKFAST MEETINGS CGIB supports the volunteers that runs the breakfast meetings below.
Please find the details for your closest location below. Ajax, Atlantic Canada, Cambridge, Edmonton, London, Markham, Oakville, St Catherines, Toronto, Vancouver, 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.
REGISTRATION ALREADY over 95% SOLD OUT ____________________________________________________________
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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 75+ 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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February 1, 2023 Public Plan Drug Spending Rises Prescription drug expenditures by Canadian public drug plans increased by 4.2 per cent in 2020/21, bringing annual spending to $12.3 billion, says a Patented Medicine Prices Review Board (PMPRB) report. The use of higher-cost medicines has been the primary factor behind rising costs for public plans over the past five years and this pressure continues to build, it says, as in 2020/21 high-cost drugs accounted for over one third of total drug costs and yet were only used by 2.5 per cent of drug plan beneficiaries. The 10 highest-cost drugs reimbursed by the public drug plans were all rare disease treatments with annual treatment costs of over $200,000
February 3, 2023 Insurance Industry Helps With Access To Medical Services Continued mental health support, an increased need for access to healthcare services, customer experience improvements driven by technology, and a heightened need for consultative, advice-based selling will be key trends in group benefits in 2023, say Stephen Frank, president and CEO of the Canadian Life and Health Insurance Association (CLHIA), and Mark Sylvia, president and CEO of the Empire Life Insurance Company. They shared their insights in a recent advisor webinar on trends in the group benefits industry. Sylvia discussed how the insurance industry is helping with access to medical services. "Some companies have now introduced telemedicine services, a valuable option for people who are struggling to access a primary care physician,” he said. Looking to the future, this may evolve into insurers having to start thinking about creating concierge or navigation services to support employees accessing their benefits and healthcare. With increased costs and a possible recession on the horizon, the current economic environment has already begun to have an impact on benefits in 2023, such as the increase in dental fees, said Frank. "We've done a couple of things at the industry level such as reaching out to the dental association and all the provinces to engage them in dialogue to continue to support benefits in the dental space."
February 6, 2023 Ontario Plans To Reduce Surgery Wait Times Ontario’s three-step plan intended to help reduce wait times exacerbated by the pandemic for surgeries and procedures may also positively impact disability plans as a reduction of long surgical wait times would potentially shorten disability durations, says an Eckler ‘GroupNews.’ Step one of the plan will target reducing the post and pre-pandemic backlog of cataract surgeries by forming new partnerships with private community surgical and diagnostic centres in Windsor, Kitchener-Waterloo, and Ottawa to add approximately 14,000 additional cataract surgeries a year. Step two will focus on using community surgical and diagnostic centres to perform lower risk procedures such as cataract, MRI, CT imaging, colonoscopy, and endoscopy procedures. The government also intends to introduce legislation allowing community surgical and diagnostic centres to perform additional diagnostic services and procedures including knee and hip surgeries. The legislation, if passed, will allow the government more flexibility to further expand the list of procedures performed in these centres. This follows similar announcements made in British Columbia and Alberta.
February 3, 2023 Insurance Industry Helps With Access To Medical Services Continued mental health support, an increased need for access to healthcare services, customer experience improvements driven by technology, and a heightened need for consultative, advice-based selling will be key trends in group benefits in 2023, say Stephen Frank, president and CEO of the Canadian Life and Health Insurance Association (CLHIA), and Mark Sylvia, president and CEO of the Empire Life Insurance Company. They shared their insights in a recent advisor webinar on trends in the group benefits industry. Sylvia discussed how the insurance industry is helping with access to medical services. "Some companies have now introduced telemedicine services, a valuable option for people who are struggling to access a primary care physician,” he said. Looking to the future, this may evolve into insurers having to start thinking about creating concierge or navigation services to support employees accessing their benefits and healthcare. With increased costs and a possible recession on the horizon, the current economic environment has already begun to have an impact on benefits in 2023, such as the increase in dental fees, said Frank. "We've done a couple of things at the industry level such as reaching out to the dental association and all the provinces to engage them in dialogue to continue to support benefits in the dental space."
February 8, 2023 Pandemic Elevated Wellbeing Efforts While workers’ health has always been critical to economic prosperity, the COVID-19 pandemic elevated both the challenges to their well-being and efforts to address them by their employers, says the Ontario Chamber of Commerce. Its seventh annual ‘Ontario Economic Report’ shows physical health is a top priority for employers as the transmission risks of COVID-19, the flu, respiratory syncytial virus (RSV), and other respiratory viruses continue to underscore that a healthy economy requires healthy people. Sick day policies have evolved accordingly with many businesses that can afford to offer their workers more generous paid sick day programs doing so. Its report shows 64 per cent of organizations offer paid sick leave to their permanent employees, but there is a gap among smaller businesses, many of which are facing both staffing shortages and financial pressures that making it challenging for them to extend employer-paid days. While the province stepped in to offer a temporary government-paid program to help fill in the gaps, this is set to expire in March. In deciding whether to end, extend, or amend the taxpayer-funded program, the government must consult extensively to prevent adverse consequences to those businesses, it says.
February 10, 2023 Fertility Benefits Top Of Mind Fertility and family-forming benefits are top of mind for many organizations as they re-evaluate benefit packages for the year ahead, says the International Foundation of Employee Benefit Plans. Whether it’s to stay competitive in attracting and retaining key talent; save on healthcare costs; match benefits to diversity, equity, and inclusion goals; or simply support the overall well-being of their workforce, these benefits are on the rise, says its ‘Employee Benefits Survey: 2022 Results’ which found 40 per cent of U.S. organizations currently offer fertility benefits, up from 30 per cent in 2020. It also shows 28 per cent cover fertility medications, up from eight per cent in 2016. As well, 30 per cent cover in vitro fertilization (IVF) treatments, an increase from 13 per cent in 2016, and 16 per cent cover genetic testing to determine infertility issues versus 11 per cent in 2018. Julie Stich, vice-president of content at the International Foundation, says offering fertility benefits to all employees, including LGBTQ+ and single prospective parents, is a positive way to create a more inclusive workplace.
February 13, 2023 Mental Health Action Gap Remains The Ontario Chamber of Commerce’s seventh annual ‘Ontario Economic Report’ shows there remains a mental health action gap, with only 37 per cent of organizations saying they have a formal strategy to support employee mental health and well-being and considerably fewer small businesses do than large ones (33 per cent versus 69 per cent). In 2023, similar to previous years, 78 per cent of survey respondents agree that employee mental health and well-being is important to their organization’s success. In fact, this action gap remains unchanged since 2017, it says, when a similar share of organizations had formal strategies. During the pandemic, there was a meaningful increase in the prevalence of mental health and well-being strategies, but that progress seems to have regressed this year. This could be a sign that many businesses have had to shift resources away from this priority in order to manage inflation, labour shortages, and other day-to-day challenges, says the report. |
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Most people want you to make something cheap, write something short, share something funny, and fit in.
But the people you serve… they might want something else.
The few people you need to thrive in your work might want you to write something they’ll remember for a long time, or to take then on a journey that’s thrilling and challenging and unique.
Or perhaps these are the people that want to buy something that costs a lot but is worth more than it costs.
It’s okay to say, “it’s not for you,” to most people.
In fact, that’s the only way to do work that matters.
My Take on Seths Post
Put another way... Be a specialist...it's okay to say NO. Being great at one thing is what makes you stand out from the pack. Your valued advice is what clients want and need and they are not afraid to pay for it.
Bonus Post
Clients and customers can be frustrating. Perhaps they don’t know what you know. Perhaps they don’t care. It’s possible to educate and inspire. It might be more productive to find the few that want to go where you do.
Put another way... If you're not aligned, they don't trust you, or won't respect your advice...Walk Away. There are more out there that care.
- or in the immortal words of Rob Crowder...NEXT !!!
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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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Know Your Corporate Client There are still 4 CE Zoomcast sessions left this Winter! This series will focus on what advisors must know about clients including a needs analysis and understanding the risks and how to manage them. We will also provide insights into clients of various sizes based on number of employees and include a special focus on companies in the underserved building, trades, and construction Industry.
Check out our full CE Zoomcast schedule below!
A Bunch to A Lot: Profitable Clients with 20 to 100 Employees (1.0 CE Credit)
Knowing Your Corporate Client in the Building, Trades, and Construction Industry (1.0 CE Credit) ______________________________________________________ This online event is exactly what you need to get up to date on your new workforce standards and start the new year off on the right foot. FEATURED SPEAKERS Paul M. Pulver - Partner - Pulver Crawford Munroe LLP Dianne Rideout - Partner - McMillan LLP Victoria Merritt - Associate - Dentons Canada LLP Abigail Owen - Associate - Harris & Company LLP
Join us February 23, 2023 for a comprehensive employment law overview that’s sure to get you ready for the challenges ahead. - Reduce your risk exposure with an update on constructive dismissals
- Avoid health accommodation pitfalls and make sure your workers are getting the support they need to thrive
- Stay on top of the changing rules and regulations surrounding hybrid workers and their rights
- Get essential tips on managing impartial workplace investigations on bullying, harassment and discrimination
- Keep up to date on the key occupational health and safety issues employers
______________________________________________________ TELUS Health Annual Conference Preparations are underway… Get ready for Canada’s largest private payer virtual event!
For the past 19 years, the TELUS Health Annual Conference has been an industry-leading source of insight and trends across the private payer ecosystem.
Save the date today for your exclusive access to: •Comprehensive data trends and national benchmarks •Informative and topical presentations on workplace benefits trends •Continuing education credits •Virtual networking opportunities Join us on April 26 and May 3, 2023 Registration opens in February 2023* ________________________________________________________
Benefits Trends Examined The International Foundation of Employee Benefit Plans’ ‘EVOLVE: Benefits and Workforce Strategies Summit’ covers the latest trends and strategies to attract, retain and support an ever-changing workforce. Sessions will be led by industry experts on mental health, leadership, cybersecurity, inclusivity, well-being, and more. It takes place May 10 and 11 in Niagara-on-the-Lake, ON. Information is at www.ifebp.org/EVOLVE |
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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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