Hot Topic Tidbit - Access To Cancer Specialists Provided April 24, 2008
ACE Life has added CAREpath's Navigation System to its group critical illness
plan – Spectrum. The plan will now offer access to a network of cancer specialists
to its clients. Its provides individuals who have been recently diagnosed with
cancer with one-on-one telephone counselling, guidance, and support through the
stages of treatment.
Hot Topic Tidbit - Canadians Fail To Factor In Healthcare
February 19, 2008
Few working Canadians have factored the need to pay for certain aspects of their
healthcare into their retirement savings, says a Sun Life Financial survey. It
reveals that only nine per cent of working Canadians have accounted for healthcare
expenses in their retirement savings and 80 per cent of Canadians expect that
their provincial healthcare program will provide them with health benefits in
retirement. Canadians appear to know that they need to put aside money for healthcare
spending in retirement, but have not taken steps to address the reality.
Hot Topic Tidbit - Benefits Gaining In Popularity
February 19, 2008
Successfully wooing job candidates takes more than salary alone, says a survey
by Robert Half International. While 31 per cent of chief financial officers said
offering higher compensation than competitors is the most effective incentive
for attracting accounting professionals, 20 per cent felt the benefits package
had the greatest influence, up from one per cent five years ago. The findings
also suggest traditional incentives are a higher priority today. While the popularity
of benefits surged, the number of financial executives who feel telecommuting
and flexible work schedules are the top draw fell eight points, from 28 per cent
in 2003 to 20 per cent in 2008, on par with benefit packages.
Hot Topic Tidbit - Assessments Replace AIR Fees
June 13, 2007
The Financial Services Commission of Ontario (FSCO) is introducing a new pension
assessment process to provide a more effective means of recovering pension sector
costs. This assessment process replaces the Annual Information Return (AIR) filing
fee. It focuses on ensuring an accurate recovery of pension sector expenditures
and minimizing the likelihood of a surplus or a shortfall in the assessment of
pension sector costs. Mark Newton, of Heenan Blaikie, says the annual filing fees
could change significantly year-to-year, resulting in less predictability on the
part of pension plan administrators, thereby adding another disincentive to establishing
pension plans. This is yet another example of regulators not encouraging the establishment
and maintenance of pension plans, he says.
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Hot Topic Tidbit - Carbon Minoxide, the Silent Killer
February 28, 2007
It’s February, the middle of winter and prime home heating season.While a rumbling
furnace may be music to our frostbitten ears, it’s important to respect the silent
threat our heat sources may pose. Click here to read more.
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Matheis Associates Benefits Consultants Inc.
20th Anniversary
May 16, 2006
Matheis Associates Benefits Consultants Inc. celebrated its 20th anniversary
by holding an open house for its new, expanded offices in Pickering, ON. On hand
for the ribbon-cutting were, left to right, Chris Reynolds, president of Investment
Planning Counsel; Talia Matheis, manager, marketing and communications, Matheis
Associates; David Ryan, mayor of Pickering; Patti Matheis, vice-president, Matheis
Associates; and Harry Matheis, president of Matheis Associates and branch manager
of Investment Planning Counsel
Hot Topic Tidbit - Work-life Balance Needed
April 26, 2006
Employers need to encourage employees to achieve a work-life balance if they
hope to bolster the mental health and well-being of their workforce, says John
Cardella, chief people officer at Ceridian Canada. Speaking at a seminar at the
Canadian Institute’s 2006 Best Employers In Canada Conference, he said employers should consider flex hours and mobile work as two methods
to help employees achieve a work-life balance. As well, employees need to learn
how to manage technology which is now “managing us.” Cell phones, Blackberries,
and eMail are blurring the distinction between work and home, he said. Estelle
Morrison, director, Lifeworks Strategic Solutions at Ceridian, said depression
is the fastest growing cause of days lost to disability.
Hot Topic Tidbit - Alberta Pursues Radical Healthcare Reform April 3, 2006
Unless the reform agenda becomes seriously derailed, Alberta is on course to
radically change its approach to healthcare and, in the process, will radically
change the way in which sponsors of employee benefit plans integrate with the
provincial system, says a Mercer Communiqué. Alberta has announced a new Health Policy Framework that will guide the future
reform of its healthcare system. It has proposed 10 policy directions including
putting patients at the centre by encouraging Albertans to play an active role
in maintaining and improving their health and in deciding on appropriate care
and treatment. Mercer is suggesting employers examine the terms of their benefit
plans and policies to avoid any unintended cost transfer that might result from
the Alberta government implementing some of its proposals.
Hot Topic Tidbit- Teachers Face Funding Shortfall March 17, 2006
Ontario teachers may be asked to take reduced benefits and make higher contributions
to make up a funding shortfall in the plan. Plan funding is a cause for concern,
says Claude Lamoureux, chief executive officer of the Ontario Teachers Pension
Plan. “We believe the most prudent way forward is realistic valuation assumptions,
contribution increases, and changes to benefits." Future pension benefits were
77 per cent funded at the end of 2005, down from 84 per cent a year earlier. This
was despite a 17.2 per cent increase in return on investment to $14.1 billion
from $10.8 billion in 2004. The plan’s funding status has been hurt by falling
long-term interest rates and low bond yields. Teachers had net assets of $96.1
billion at the end of 2005, up from $84.3 billion in 2004.
Hot Topic Tidbit- Ontario's Healthcare Future
February 24, 2006
By 2027, the total cost of healthcare in Ontario will equal total government
revenues, says Brett J. Skinner, director of health and pharmaceutical policy
research at The Fraser Institute in Toronto. Speaking at the CPBI breakfast seminar
series ‘Post-Chaoulli,’ he said across the country the cost of healthcare is growing
faster than governments can pay for it. Increased spending on healthcare is not
a problem, he says, if the money is being well-spent. But, Canadians are getting
poor value for the money being spent on healthcare.
Canadian employees believe those who smoke should pay more for their employee
health benefit plan. That is just one of the findings of a Sanofi-aventis survey
which polled employee health benefit holders to understand how they feel about
containing healthcare costs and their willingness to relinquish some benefits
in order to maintain the core coverage of their employee health benefit plan.
It found, for example, that the majority of respondents, 70 per cent, believe
that employees who do not smoke should pay less for employee health benefit coverage.
Fifty-four per cent who have a smoker in their family also agree. Furthermore,
54 per cent agree the cost of employee health benefit plans should be higher for
employees who don’t exercise or are seriously overweight. The survey has found
that respondents recognize that resources of the public healthcare system and
the health benefit plans are not limitless and employees value their plans so
that they are willing to make choices when it comes to managing health risks and
costs to maintain core coverage.
