August 2023 CGIB News

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Dear Subscriber,

There is a lot going on. Probably the biggest issue (but not the most important, just the one we are all experiencing) is rate increases. 

We are seeing Ozempic claims jump up the charts as off-label usage (for weight-loss) is causing costs to grow exponentially. Drug claims overall are up about 6% year, but betting this will be even higher next year based on new entries. We've had increased disability rates in many industries, driving rates. Ontario, and other provinces, implemented the highest dental fee guides in history, with 8.5% in Ontario and then trend and utilization on top of that, creating rate increases expected to be 10+% higher this year. Parameds and medical equipment, service sand supplies are all also being affected by inflation.

So, what can we do?
  1. Educate our clients on trends, claims and changes in the environment (like pooling, fee guides etc.)
  2. Prepare those with high claims by sharing claim reports WITH context.
  3. Provide options. They may not be implemented, but it is good to show you're looking out for their interests and budgets.

As an example, I had a meeting with a long term (20 years) client that was looking at a 400% + increase in health rates at renewal next year (if things continue). I reached out in a pro-active manner to have a discussion.  

  • Before anyone asks, it has a growing presence both nationally and in Quebec, so QDIPC is part of the problem. The new QDIPC SLAP is now $18,000 (up from $8,000) and they have several QC employees with high cost drug claims driving the costs. We can't exclude, cap or otherwise avoid these claims, so the only option was to drop the plan and pay for the mandatory RAMQ coverage, or accept the renewal...

I presented options ranging from dropping the plan, to accepting the renewal, and part way through, they started laughing. I asked what was funny and they said something like...

"We get it. We get the Quebec issue (we live it every day). We get the high drug claimers and their needs (and support it). We get the resultant rate increase (you've explained in the past). Thanks for letting us know". 

The only follow up was to give them an estimate for the 2024/5 budget which we did. In the end things may change 9people leave, die etc.), but we are on the same page going forward.

Need help? Reach out to the group on Slack (or me) and we'll help.

Have a great day and May the Sails Be With You.

Dave
 
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OUR EVENTS

I am pleased to release the Canadian Group Insurance Brokers & Business Career College podcast called The Navigator.  This is a regular podcast sharing and discussing all things group benefits. A huge thanks to Jason Watt (he/him) CD CLU for making this possible. 

Our latest episode features a conversation with Chris Gory on "Regulator Audits and what you need to know".

Watch for our next interview with Emily Stewart of BBD discussing the CGIB CHIP renewal and maybe a few industry updates.

You can watch/listen:
On YouTube

On the Members Only page

On Spotify

On Amazon Music

On Podbean
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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 August 3rd @2pm (EST)
Tuesday August 15 @2pm (EST)
Thursday August 31st @2pm (EST)
Tuesday September 12th @2pm (EST)
Thursday October 5th @2pm (EST)

CGIB Members may join the meeting at the time above by visiting... 
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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

Please contact the event champions to be added to their lists, and receive more info.  https://cgib.ca/breakfast-meetings
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Upcoming CGIB Events:   

The CGIB 2023 Plan Administration Checklist Workshop - Vancouver is scheduled for Wednesday October 17th at the Sandman Signature Airport

Registration is NOW OPEN. Please pass to your associates and friends.

The November 8th, 2023 CGIB Toronto Seminar slate of speakers is now confirmed and expected to be our biggest in years. Registration will open September 2nd and sell out fast.  Make a note in your calendars today.

Ask for a non-member discount code for staff, clients and/or associates.
 
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.
 
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.
 
SETH GODIN'S BLOGClosed/open 

I’m told that the hardest part of being a teaching golf pro isn’t helping adult golfers develop a good swing.

It’s getting them to stop using a bad one.

Our position feels so fragile, we hold on very tightly.

Competence, status and connection are fleeting yet hard-won. We can often feel like an impostor and one way to find peace of mind is to fortify the foundation of what we believe got us here.

And so we close up.

Alas, it’s almost impossible to pick up something when your hand is in a tight fist.

This is why emotional enrollment is the key to learning. No toddler learned to walk by insisting, again and again, that crawling was good enough. Or by trying to walk by simply crawling harder.

Teachers (leaders/organizers/coaches) have two jobs. The first is to earn enrollment, the second is to teach.

If the student is unwilling to become open, afraid to let go of what they’re holding on to, then better is going to be elusive.

Resistance is wily. It will come up with a thousand reasons to remain closed, narratives about entitlement, security or cultural dynamics. Whatever it takes to stay still. Extinguish one and another will replace it.

Let’s get real or let’s not play.

My Take on Seths Post

Put another way...and related to benefits...we need to earn a clients trust, then guide them. If they are unwilling to listen, learn or trust you, then ...RUN, don't walk, AWAY. 

As a good buddy always says...NEXT!Remember there are over half a million small businesses without benefits.
 

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 the code CGIB25 for 25% off the yearly subscription Price.
The regular retail price is $200/year, CGIB members save $50/year!!!

Sign Up HERE
 
Canadian Benefits Examined

The International Foundation of Employee Benefit Plans’ ‘Annual Canadian Employee Benefits Conference’ will examine the latest tools, ideas, and strategies for making effective decisions on behalf of plan members. Featured sessions include ‘Decumulation in a Low-to-Rising (Inflationary) Interest Rate Environment,’ ‘Prescribing Wellness ‒ Integrating Healthy Habits Into Virtual Care,’ and the ‘Aging Workforce and Its Impact on Benefit Plans.’

It takes place September 10 to 13 in Montreal, QC. Information is at
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The Benefits Canada Healthcare Survey virtual events will feature presentations of the highlights and key takeaways from this year’s survey. Benefits Canada surveyed 1,000 plan members and 700 plan sponsors in April 2023. In addition to exploring current issues, the survey builds upon 25 years of historical survey data.

Hear expert panellists explore the results of the survey in three main categories: personal health and well-being, health benefits plans and workplace wellness supports. The full report will be available for download immediately following the conclusion of the virtual event.  

Event Date: Thursday, September 14, 2023
Time: 1:00 PM – 3:15 PM Eastern Time

Click here to view the event agenda.

Please fill out your information below to register for this event.
CE Credits: This conference will offer Institute-accredited continuing education (CE) credits. An application for CE credits will be submitted to the Institute for Advanced Financial Education. Individual CE applications are not submitted to other regulatory bodies (i.e. AIC, ICM, etc.). You must attend all conference sessions in order to be eligible. 

How to apply for CE Credits: At the end of the conference you will be able to register for your certificate via a separate link that you will find in the feedback survey. There will be a small fee of $40.00 plus tax. Please contact Lolita McArthur for more information regarding CE credits. 

Important: Your email will act as a username when accessing the virtual event platform; make sure to check for typos before submitting your registration. We will send you the event platform access link and password on Wednesday, September 13, 2023 via email.
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2023 ADVISOR ROADSHOW

Benefits solutions and insights for a changing world
Register now!Our Group Benefits Advisor Roadshow returns to a city near you this fall. Take advantage of this opportunity to:
  • Learn about the forces shaping our industry;
  • Network with your peers; and
  • Earn CE credits.
NEW CITY ADDED: We’re excited to announce that we’ve added Halifax as one of the stops on our tour this year.

Agenda
AI and benefits fraud: A double-edged sword
Emerging technologies, such as Artificial Intelligence, have the potential to revolutionize the way we live and work. Insurers are using a variety of these technologies to detect and control benefits fraud. But they can also be leveraged for nefarious purposes – including benefits fraud. This presentation will discuss some of the technologies that are becoming commonplace today and explore the potential for their use and misuse in the future. It will also examine what group insurers can do to harness these technologies while minimizing the risks.

Speaker:  Jon Sider, Director, Group Health and Dental Claims, Equitable Life

It's complicated: Mental health and disability management
No two disability cases are the same. Each comes with its own unique set of circumstances. But regardless of the cause of the disability, the claimant’s mental health almost always plays a role. Using real-life case studies, this presentation will examine the complex factors that can contribute to a claimant’s recovery and return to work, including physical and psychological co-morbidities, the workplace environment and the claimant’s financial wellbeing. The presentation will examine the resources available to bring about positive outcomes and discuss what plan sponsors can do to help prevent disability and improve the health of their workforce.
Speaker: Meredith Weldon, Director, Group Life and Disability, Equitable Life; 
Jeff Alcock, Group Benefit Operations Vice-President, Equitable Life
 
Controlling the controllable: Managing the shift in drug trends
The last 12 months has been characterized by extreme changes – both expected and unexpected – to the Canadian drug “world”. More employers are exposed to trend volatility and risk. This session will focus on providing practical insights on what plan sponsors can do to protect themselves, and the steps that Equitable is taking to help mitigate that risk.

Speaker: Martin Chung, Assistant Vice President, Strategic Health Management, Equitable Life
Register

Click on a city below to register.
Tuesday, Oct 3
Courtyard by Marriott Halifax-Dartmouth 
Spruce & Oak Room

Wednesday, Oct. 4
Ottawa Hunt and Golf Club 
 
Thursday, Oct. 5
Thornhill Golf and Country Club

Tuesday, Oct. 10
Delta Hotels by Marriott London Armouries
Gunnery Room
 
Wednesday, Oct. 11
Double Tree By Hilton Kitchener
Ontario Ballroom BC

Thursday, Oct. 12
Oakville Conference Centre
Oakville A Room

Monday, Oct 16
The Westin Bayshore 
(Parking will be paid for by Equitable Life)

Tuesday, Oct 17
Delta Hotels Edmonton South Conference Center 
 
Wednesday, Oct, 18
Holiday Inn & Suites Calgary South Conference Centre
  
Thursday, Oct. 19
Delta Hotels by Marriott Bessborough

Friday, Oct. 20
Inn at the ForksThe sessions start at 8:30 am and run until 11:30 am. Breakfast is served beginning at 7:45 am.

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Canadian Benefits Certificate Program - Fall 2023
October 3 - 12, 2023 9:30 AM to 4:00 PM
Online - Eastern Time

Canadian Benefits Certificate ProgramOnline Course offered by CPBI Ontario in partnership with the Human Resources Professionals Association

This course qualifies for 23 CPD Hour(s) and CE credits for Life Licensed individuals (Ontario only)

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: $1,870 + Taxes
Non-Members: $2,350 + Taxes

*** CPBI Members can email ontario@cpbi-icra.ca  for assistance with the registration at discounted price. 
WHAT you will gain:
Attendees can offer immediate value-add and ROI to the organization after earning certification in the following ways:
  • A comprehensive understanding of the many components of Canadian Group Benefits
  • Insight into public and private benefits programs and individual benefit types to better formulate plans and strategies.
  • Eight levels of knowledge sharing to help manage programs better and minimize costs.

Who should attend?
HR Professionals tasked with hiring, retaining talent in the organization. C-Suite executives who wish to understand Group benefits programs.
What is the course format?
This certificate program combines live virtual instruction with hands-on experiential learning through case studies, scenarios, group work/break out discussions and simulations.

Live Virtual Sessions:
There will be online instructor-led modules, during which practical examples and experiences will be shared.

Materials:
Participants will be provided with session workbooks to follow along with the content covered in each module and to take notes, as well as additional pre-session and post-session assignments to prepare for the simulations.

Peer Learning and Group Work:
Participants will have the opportunity to learn from each other while answering questions and sharing experiences and observations during the modules, as well as through practical, hands-on exercises and simulations based on real-world labour relations events and processes.

Time Commitment:
This four-day certificate program will be delivered in eight modules. Participants will spend four (4.5) hours each day participating in the virtual sessions and accompanying exercises and simulation activities. Over the duration of the course, participants can expect to spend an additional five (5) hours completing offline independent work (outside of the daily sessions). The in-class virtual modules will be held as follows:

Schedule:
Introduction - October 3, 2023 (9:30am - 10:00am EST)
Module 1 – October 3, 2023 (10:00 am – 12:00 pm EST)
Module 2 – October 3, 2023 (2:00 pm – 4:30 pm EST)
Module 3 – October 5, 2023 (10:00 am – 12:00 pm EST)
Module 4 – October 5, 2023 (2:00 pm – 4:30 pm EST)
Module 5 – October 10, 2023 (10:00 am – 12:00 pm EST)
Module 6 - October 10, 2023 (2:00 pm – 4:30 pm EST)
Module 7 – October 12, 2023 (10:00 am – 12:00 pm EST)
Module 8 - October 12, 2023 (2:00 pm – 4:00 pm EST)

 For more information or registration please call the Toll-free number:   888 788-3185 Choose 1 for Region, then Ext. 3,  or email ontario@cpbi-icra.ca 

www.cpbi-icra.ca/Events/Details/Ontario/2023/10-03-Canadian-Benefits-Certificate-Program
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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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