Genetic Discrimination

As the corporate world is increasingly focused on workplace wellness, some companies are taking it to the extreme. While it may be considered a little heavy-handed, tying health premiums to participation in wellness programs does make sense. Discriminating against employees based on genetic predisposition to...

Don’t Work Yourself Into a Depression

A new British study highlights the importance of maintaining a healthy work/life balance. The study found people who work long hours (minimum 11 hours per day) are more than twice as likely to become depressed as their colleagues who work 7 or 8 hours per day. The correlation between long hours and increased...

Generic Cholesterol-Fighting Drug Hits the Market

Generic alternatives have been gaining a lot of attention; especially with their potential to significantly reduce drug costs for group benefit plans. Earlier this month a generic version of a cholesterol fighting drug called Lipitor was introduced. In the first few days that it was available, the generic...

How Health Spending Accounts Are Being Used in the Market

In my previous articles I provided some background on the advantages and disadvantages of Health Spending Accounts and the insurance coverage that can be added. In this article I will provide some background on how Health Spending Accounts are commonly used today in the marketplace. The two main uses of...

Competing Priorities: Controlling Healthcare Costs vs. Making Profit in the US

Pharmaceutical companies in North Carolina have a new tactic to boost sales: coupons. The idea is to lure consumers away from inexpensive generic drugs, to higher priced brand-name drugs.   In a bid to help control soaring benefit costs, many group benefit plans in the US have previously introduced higher...

E-Claims Add Another Dimension to Benefits Fraud

Benefits fraud has been around for decades. Whether it’s a plan member submitting a claim for a service not received, or a service provider falsely writing up an uncovered service as a covered service, it’s out there. There have been numerous measures enacted to help identify and prevent fraudulent...

B.C.’s WCB Coverage for Mental Stress is Expanded

Amendments to the Workers Compensation Act in B.C. were recently proposed to broaden the definition of “Mental Stress.” Currently, workers are covered for mental stress if they experience “an acute reaction to a sudden and traumatic event.” This definition is very constrictive. The proposed changes...

How to Fight the High Cost of Group Insurance Fraud

The costs of Canadian group benefits seem to be increasing each and every year. While there are a number of factors that play a role in this trend, one of the more difficult factors is the rise of fraudulent claims. In this article, I want to discuss the growing concern of group insurance fraud, explain how...

The Limitations of Health Spending Accounts

In my previous article about Health Spending Accounts, I examined the advantages and disadvantages of this product. The advantages for the employer are significant: Cost certainty Return of unused funding The advantages for the employee are more numerous but not as significant Broad coverage No...

Looking to Lower Your Cost on Group Benefits? Try adding Value! – Part 2

Group benefit plan costs continue to soar year after year. The average annual trend increase on group benefits premium in Canada is approximately 10-20% for disability premium, 12-18% for health premiums, and 6-12% for dental premiums. In my last article, I addressed one method for lowering extended health...