healthcare

2023 median benefit costs way up (7.1%) but in line with long-term inflation

Chris Pryce2023-09-05T15:08:02+00:00

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 [...]

2023 median benefit costs way up (7.1%) but in line with long-term inflationChris Pryce2023-09-05T15:08:02+00:00

2020 YTD Annual Renewal Changes at +1.2%

Chris Pryce2020-06-29T15:57:20+00:00

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 [...]

2020 YTD Annual Renewal Changes at +1.2%Chris Pryce2020-06-29T15:57:20+00:00