Category Archives: Benefits Costs

Dental Fees in Ontario Rising 4.19% This Year: What Can You Do?

A child sitting in a dentist's chair being examined by a dentist wearing blue gloves.
Posted on March 22nd, 2019 by Mike Ignatz

Ontario dental fees have been climbing annually, and 2019 is no exception. This year, the rates set by the Ontario Dental Association will increase by 4.19%. Dentists use the Provincial Dental Fee Guide to determine the rates they charge for services, while insurers use them as a guideline for “Reasonable and (…) [Read Full Article]

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How to Combat the Skyrocketing Cost of Dental Claims

patient in dentist chair with dentist
Posted on October 24th, 2018 by Mike Ignatz

Spending on dental-related expenses has risen significantly over the past two decades, jumping from $2.3 billion in 1996 up to $7.9 billion in 2016. In fact, dental benefits accounted for 24 per cent of the total spent on extended health services by group or individual insurance plans according to the (…) [Read Full Article]

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Selling Benefits Plans to Religious Groups & Charities

Charity
Posted on February 23rd, 2018 by Robert Crowder

Groups such as religious organizations, not-for-profits, and charities often have specific needs for their healthcare plans that conventional off-the-shelf plans cannot accommodate. Benefits plan advisors have a great opportunity to offer customized benefits to this market. There are many reasons these types of groups may not currently have a benefits (…) [Read Full Article]

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Choosing a Third Party Administrator for Benefits Plans

buyer beware: third party administrator for benefits plan
Posted on September 21st, 2017 by Robert Crowder

A Third Party Administrator (TPA) is an organization that manages employee group benefit plans on behalf of an employer. A TPA can provide more cost-effective and flexible group insurance administration for small and mid-sized businesses than larger traditional insurance carriers can – in some cases saving as much as 20% (…) [Read Full Article]

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Common Benefits Advisor Problems: Plan Design – Don’t Be a Commodity

Posted on May 25th, 2017 by Robert Crowder

Here’s a hard truth – your clients don’t owe you anything. The small group benefits industry is largely commodity-driven. Successful business owners (your clients) are concerned with getting value from their benefits plan so they can go back to focusing on their company’s success. For most off-the-shelf benefits solutions, “value” (…) [Read Full Article]

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Your Benefits Plan Has a Drug Problem

Drug Plan
Posted on September 27th, 2016 by Robert Crowder

That’s right; your benefits plan has a drug problem. Specifically, there’s a storm brewing with expensive prescription drugs – and most employee benefits plans won’t be able to weather it without the right precautions in place. There’s no question about it, the cost impact of prescription drug plans is increasing (…) [Read Full Article]

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Should I Choose a Pay-as-You-Go or a Budgeted ASO Plan?

Benefits Plan
Posted on February 12th, 2016 by Mike Ignatz

As you search for the best benefits plan to meet your business’s needs, you may decide an alternative to the typical conventional plan is right for you – like an Administrative Services Only (ASO) plan. An ASO plan is an arrangement where your business funds your own benefits plan and (…) [Read Full Article]

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Do You Know These Details about Coordination of Benefits?

Benefits Plans
Posted on June 12th, 2015 by Mike Ignatz

Most people know the essentials of coordination of benefits (COB); however, there are a few details that are less widely known. These details are important to understand. They allow you to get the most from the different benefits plans you and your dependents are covered under. Coordination of Benefits Basics (…) [Read Full Article]

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Pan-Canadian Pricing Reduces Generic Drug Pricing Across the Country

Health Benefits
Posted on April 28th, 2015 by Mike Ignatz

The Pan-Canadian Pharmaceutical Alliance (pCPA) is a joint initiative by Canada’s provinces and territories to achieve a better value for generic drugs in Canada. As a result of recent bargaining from pCPA, the price of the following fourteen generic drugs has been reduced to 18% of the equivalent brand name (…) [Read Full Article]

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The Four Pitfalls of Self-Managing Your Healthcare Spending Account

Health Care Spending Accounts
Posted on January 14th, 2015 by Karen Taylor Smith

Some employers believe they can save money on administration by self-managing their healthcare spending account (HCSA) benefits plan. However, it’s important to know that self-administration often results in high costs, lost time, and other drawbacks. Before you determine whether to use a third party administrator or self-manage your plan, you (…) [Read Full Article]

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