Mid-May 2021 CGIB News

If you can't see this email click here.
image
Dear Subscriber,

Welcome to our Bimonthly CGIB news that comes out the 1st and 15th (ish) of each month.

You're going to see a few changes as we transition from CVENT to Glue Up both in the event bookings (coming soon) and in locating the videos and documents. The MemberZone will be ONLY used to get old CE credit certificates. Everything else will now be accessed by visiting www.cgib.ca and logging in on the top right corner where it says Login.

YOUR most important job is to ensure that you get your profile set up by following the e-mail link sent last week and again this week. Your profile will be made public so employers looking for advisors so having your LinkedIn profile, photo etc is VERY important.

Once you are logged in, you will see a new menu drop down called Members Only. Under this tab you will find all the documents you were looking for, videos. slack and HR resources.

Please be patient, we are moving all the documents across and it may take us a week or so to get everything up and running.

As always, if you have questions, just reach out.

Dave
 
OUR EVENTS

CGIB COFFEE CHATS

Coffee chats are like a virtual breakfast. Log in 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 May 27th @ 3pm (EST) 
Tuesday June 8th 11th @ 2pm (EST) - notice the 2pm start time
Tuesday June 22nd @ 2pm (EST) - notice the 2pm start time & new date

____________________________________________________________

Upcoming CGIB Events:
Due to COVID-19 we are holding off launching or re-opening events until closer to the date.  

We are holding the dates of Wednesday October 6th, and November 3rd for possible IN-PERSON Toronto seminar dates. Calgary & Vancouver to follow when it's safe to do so.

Watch for details.
____________________________________________________________
The National Group Benefits Meeting (NGBM) is pleased to bring you a webinar on June 3rd 2021 from 12:00 PM (EST) - 1:30 PM (EST) focused on Managed IT and Cyber Security.
 
Here's what you'll learn:

What is managed IT and why do you need it?
Keeping your data on your computer, moving to “the cloud”, or using both. The options are simple to manage. Which one is best for you?
Best security practices including why you need two-step authentication
Cyber Insurance, what does it cover, and why do you need it?
After a breach, how to restore your systems and reputation

ProServeIT will walk you through the above. They are Gold Microsoft partners with multiple Office 365 certifications. They are a national firm with individuals from Vancouver to PEI. This event will have a maximum capacity of 250 people, so be sure to sign up early to make sure you do not miss out!

Register Now
 
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 25% 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.




UNINSUREDS NEED ACCESS TO PRESCRIPTIONS
With approximately 20 per cent of the population of New Brunswick with neither public nor private drug prescription coverage, the Canadian Life and Health Insurance Association (CLHIA) says it is important to identify these individuals along with those who are underinsured and have to pay excessive out-of-pocket costs. In its comments on the New Brunswick consultation ‘Striving for Dependable Public Health Care 2021,’ it says as actions are put in place to achieve sustainability of the public drug plan, savings may be directed at providing coverage to the uninsured and underinsured. The industry believes that federal, provincial, and territorial governments and private insurers should work together to develop a standard list of medicines that all Canadians can access regardless of where they live or whether they have workplace benefits. Private insurers want to work with governments to ensure access across the country not only to this standard list of medicines, but also to high cost medicines used to treat chronic and rare diseases, it says. It recommends that all Canadians be covered through a plan offered either by an employer, union, or other professional organization or by the government. This would address access issues and ensure that Canadians with existing plans do not see their coverage reduced while also using public funds in the most efficient and effective way.

COVID PROMPTS CHANGES TO BENEFITS
The COVID-19 pandemic has had significant implications for workplaces across the world, and employers and workers have needed to make difficult decisions benefits. A report by the International Foundation of Employee Benefit Plans ‒ ‘Impact of COVID-19 on Pensions and Benefits in Canada: Spring 2021 Update’ ‒ found of employers that offer employee and family assistance programs, 61 per cent have seen an increase in the utilization of plan services as a result of the pandemic. The average utilization rate of these services before the pandemic was nine per cent and it has now increased to 15 per cent. With prescription drug benefits about one in five (18 per cent) have extended the time allowed under prior authorization periods, followed closely by temporarily waiving premiums for some or all plan members (17 per cent). 


CASE FOR PAYING FOR GENE THERAPIES CONSIDERED
The speculation with gene therapies is whether there is a case for paying more than for conventional medicines, says Dr. Mike Drummond, professor of health economics at the University of York. On a panel at the ‘TELUS Health Annual Conference’ on ‘Gene therapy: Challenges in determining value to make reimbursement decisions; with Karen Lee, director, health economics, at the Canadian Agency for Drugs and Technologies in Health, and Joan Weir, director, health and disability policy, at the Canadian Life and Health Insurance Association Inc., he said what they like to do is look at the health gain using a quality adjusted life year equation which determines the kind of quality gain one might get from a typical end stage cancer drug. Some of the gene therapies do add a significant health gain. “Of course, the other side of the coin is the cost,” he said. Many of these therapies are significantly costly. He cited one in the U.S. where the cost is $2 million dollars for a course of therapy. “When you relate the costs to the quality, you can see the incremental cost of quality can be quite high,” he said. However, there may actually be a cost saving because the potential in gene therapy is to actually save many years of an expensive therapy. There are a number of funding models which can be used for gene therapy, said Weir. The direct payment model is basically the “one and done” model and it may be possible to negotiate a better discount if the dollars are paid upfront to the manufacturer on a quit basis. But if treatment is less effective, there is no ability to stop payment of the balance. Another option is pay-for-performance outcomes based agreements. These would allow for both the manufacturer and the insurer or public payer to assess how well that particular patient fared. And this brings with it the necessity to collect and examine real world evidence which brings up the possibility of a registry. Another approach is negotiated discounts similar to what happens today when public and private payers negotiate directly with the manufacturer on a particular drug, said Weir. Lee said one issue is the high upfront costs when it is less clear what clinical benefits might be realized over the longer term. Many of these trials are very limited so “whether these potentially curative therapies do end up being curative remains to be seen,” she said.
 
SETH GODIN'S BLOG - “But how will you know?”

It pays to know what something is for. It helps us figure out how to do it better, how to allocate resources and how to know when we’re done.

Much of what we build or invest in is complicated. It serves multiple purposes, has to please many constituents and has competing priorities.

So the question: “How will we know if it’s working?” is a powerful one.

It opens the door to a useful conversation about what it’s for.

My Take on Seths Post

I think this is really about the benefits of being a specialist and laser focussed. When you set out your mission, it's easier to make decisions, to walk away from bad business and walk towards the good stuff. I choose to NOT be all things to all people, but rather a very specific thing for a very select group of prospects that fit.
 
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!https://mapol.us5.list-manage.com/track/click?u=63d5db71b14313c9dd1946950&id=2ed4437f85&e=8803f02383
 
An Advisor's Guide to Cybersecurity

A free webinar on how to protect your clients and your business
Two dates: Monday, May 17 and Thursday, May 20 2 PM - 3 PM ET

Join us for a free webinar.

The insurance industry is becoming an increasing target for hackers who see clients’ personal information as a valuable source of revenue.

This session will provide an introduction to cybersecurity and look at how advisors can protect themselves and their clients' information.
 
Presenter: Kevin Fox, Director, IT Security & Business Continuity, Equitable Life of Canada

CE credits will be provided.


____________________________________________________________
POOLING FRAMEWORK REVIEWED

In 2012, the Canadian Life and Health Insurance Association (CLHIA) announced a pooling framework focused on small employers to assist with the sustainability of private drug insurance plans facing affordability challenges from high-cost drug claims. At the CPBI Saskatchewan ‘Industry Pooling for High Cost Drugs … 2 Years and a Pandemic Later!’ session, Dan Berty, executive director of the Canadian Drug Insurance Pooling Corporation (CDIPC) will review the framework, the impact with high cost drugs, pooling results, and emerging trends. It takes place May 19. Information is at https://www.cpbi-icra.ca/Events/Details/Saskatchewan/2021/05-19-Industry-Pooling-for-High-Cost-Drugs-2
____________________________________________________________
Tuesday, May 18, 2021    1:00 pm to 2:00 pm EDT

There is a significant lack of understanding of obesity. Many people living with obesity, healthcare professionals, and employers believe that weight can be controlled mainly through individual behaviours such as healthy eating and exercise. The truth is that weight is highly heritable and our brain defends against weight loss. People living with obesity also experience pervasive weight bias and stigma which further impacts their health and wellbeing. Consider that your employees past weight management efforts were difficult not because of some character flaw, lack of willpower or motivation, the wrong diet or not enough activity, but instead because they are living with a serious, untreated chronic disease. Obesity treatment guidelines exist. It is time to recognize obesity is a chronic disease, address weight bias in the workplace, and understand what it means for your employees’ health.

____________________________________________________________
What happens to your clients if you retire (or worse, suffer a major injury or accident)? 
 
Join us on May 20th at 1:00 PM (ET) / 10:00 AM (PT) where Gary Wardrop from wealthLINK Financial, will take you through a webinar focused on succession planning and buying or selling a book of business. 

You’ll learn about:
The importance of succession planning
How to valuate a book of business
Recommended steps to follow when buying business
Recommended steps to follow when selling business
And more!


This webinar will be eligible for 1 Continuing Education (CE) Credit, pending approval by applicable provincial Insurance Councils.
____________________________________________________________
MAPOL Complimentary Webinar
 
An Overview of the Quebec Drug Insurance Pooling Corporation (QDIPC): Administration, Costs, and Potential Application at a National Scale

Mapol Inc. invites you to attend a complimentary webinar sponsored by Alexion Pharma Canada.

The Webinar will be held on Wednesday, May 19, 2021, from 1:00 p.m. to 2:00 p.m. Eastern Daylight Time.

Speaker:
Philippe Laplante, FCIA, FSA
Principal at Eckler Ltd.

The Learning Objectives are to:
Describe the QDIPC and how the pooling system is administered.
Apply relevant market statistics regarding high cost drugs and pooling costs.
Discuss what works well with the QDIPC and proposed areas of improvements.
Comment on how the QDIPC concept could be extended to a national program.

Please follow the below steps to register:
Click the registration link.
Click "Register" (grey button towards the bottom center of the page).
On the registration form, enter your information and then click "Submit".
Closer to the webinar date, you will receive the sign in details via email. 

An application for 1 CE credit will be submitted to the Institute for Advanced Financial Education. Individual CE applications are not submitted to any other regulatory body (i.e., AIC, ICM, CSF, IIROC, etc.).

Please note, this complimentary webinar is limited to invited guests including insurers, PBMs, TPAs, benefits consultants, and employers.

____________________________________________________________
CPBI NATIONAL WEBINAR SERIES

Bridging the Gap - Increasing private sector drug benefit plan sustainability
May 27, 2021 - 1 PM Eastern 

In Canada, generic medicines are dispensed to fill 73% of all prescriptions but there is a wide discrepancy between public and private sector generic utilization. Public sector drug plan generic utilization rates average 77% while the average for private sector plans is only 65%. This panel discussion will review the potential savings through increasing generic utilization, how plan sponsors can increase utilization of generics, and the impact of implementing changes.

Jim Keon, President of CGPA, will discuss the industry's COVID-19 response, the pricing of generic pharmaceutical products in Canada, and the potential savings to plan sponsors of increasing their use of generic prescription medicines.

Joanne Jung, Pharmacy Practice Leader at Willis Towers Watson, will discuss whether plan sponsors are optimizing savings from their mandatory generic drug plan?

Mark Rolnick, Executive Vice President, Pharmacy Innovation & Patient Experience at Green Shield Canada will provide a carrier perspective on the impact of implementing mandatory generic substitution on a block of business, including communications, cost benefits.

Who should attend?  Benefit advisors; plan sponsors and providers 


This webinar is free for CPBI members. 
Non-members can still attend for $65 - plan sponsors non-members can attend for $50
____________________________________________________________

'Digital Health Transformation in Private Payer Plans – Trends, Access, and an ALS Patient's Perspective'

Mapol Inc. invites you to attend a complimentary webinar sponsored by Mitsubishi Tanabe Pharma Canada.

The webinar will be held on Tuesday, June 1, 2021 from 1:00 p.m. to 2:00 p.m., Eastern Daylight Time.

The Speakers are:

Norman MacIsaac
Author, Public Speaker, ALS Ambassador, and Member of the Board of Directors of ALS Quebec

Luc Vilandré
Consultant, Health Tech Executive, Member of the Board of Directors of ALS Quebec, and Co-Founder of the Ride to Fight ALS

The Learning Objectives are to:
Share the Amyotrophic Lateral Sclerosis (ALS) patient perspective in navigating the Canadian healthcare system.
Provide an overview of the trends in private payer reimbursement for Innovative Drugs for Rare Diseases.
Increase awareness of how digital health transformation is changing health claims processes in the private payer market that impacts the ALS patient journey.
Illustrate how claims and health systems can help ALS patients access medications more effectively and seamlessly.

Please follow the below steps to register:
Click the registration link.
Click "Register" (grey button towards the bottom center of the page).
On the registration form, enter your information and then click "Submit".
Closer to the webinar date, you will receive the sign in details via email.
An application for 1 CE credit will be submitted to the Institute for Advanced Financial Education. Individual CE applications are not submitted to any other regulatory body (i.e. AIC, ICM, CSF, IIROC, etc.).
Please note, this complimentary webinar is limited to invited guests including insurers, PBMs, TPAs, benefits consultants, and employers.

____________________________________________________________
Thursday, June 10, 2021   1:00 pm to 2:00 pm EDT

Join us to hear thought leaders from Express Scripts Canada and Canada Life address important subject matters that are top of mind for employees and employers.

Following the speaker presentations, we will have a panel discussion live with the presenters addressing audience questions.

SPEAKER SESSIONS

Prescription Drug Trends and Mental Health Claims: Stem the Tide

The COVID-19 pandemic has upended our daily lives in a very short period of time, leaving a monumental mark on the world’s health and economy. It has changed the way we work, the way we access healthcare services and the way we connect with each other. It has also taken a toll on the mental and emotional wellbeing of our population; therefore, it is no surprise that the impact of COVID-19 on prescription drug claims has also been significant. 

During this session, Dr. Lo will provide insight into mental health prescription drug trends and outline solutions that could help stem the tide of the growing mental health challenge by improving the care we provide to plan members living with mental health conditions.

What you need to know about what’s changing in drug plans

In this session, attendees can expect to take away key insights on:

•  Drug expenditure trends in group insurance plans and how market dynamics impact the drug plan bottom line.

•  Biosimilar drugs: What they are and how they work – insight into strategies that allow biosimilars to help manage drug plan spending in group insurance plans

Need help? Have questions? Looking for something?

Reach out to CGIB - Dave Patriarche - dave@cgib.ca - 905-886-9203

glueup

Powered by Glue Up
All-in-one CRM Software for Growing Communities