Earlier this year, a timely article in Benefits Canada suggested that Aon plc had forecasted an increase in employer-sponsored medical benefits of 7.5% in 2023. At that same time plan sponsors had just been jolted by the release of a similar (8.5%) Ontario Dental Association fee guide increase for 2023. These were disconcerting figures, as health and [...]
From Equitable Life group communications - Sept. 2, 2021 Ontario optometrists may begin withdrawing eye services covered by OHIP after talks with the provincial government broke down over funding for their services. The head of the Ontario Association of Optometrists indicated that optometrists will contact affected patients to cancel appointments and place them on waiting [...]
In 2020, plan sponsors benefited from Covid-19 induced reductions in dental claims, that because of closed dental offices during the initial pandemic closures, resulted in an overall reduction of some -10% to -15% in claims activity. So, in 2021, the Canadian Dental Association is doing its best to help offset some of that lost revenue [...]
Disability incidence rates have increased continually over the past 5 years. This incidence trend, which is the rate at which new claims are changing compared to the past, is industry wide and affects everyone. Based on published reports from industry leaders, Manulife and Sun Life, current Long-Term Disability (LTD) pricing, is not reflective of this [...]
Recently, we looked at our client renewals from 2019, to question cost escalations based on Insurer trend factor surveys. These surveys suggested that benefit cost increases for health/dental were 8%-10% per annum. This number was the sticker price/MSRP, not the real rate of change. In 2019, we showed a +0.8% annual increase across all benefit [...]
