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(kingston, on – january 29, 2024) – advisors and their customers are more focused on cost containment in their group benefits plans this year compared to 2023. this was a key finding of an industry trends panel discussion hosted by the empire life…, stephen frank, president and ceo, canadian life and health insurance association; mark sylvia, president and ceo, empire life; susan black president and ceo, the conference board of canada , focus on cost containment increases, in a live poll of more than 600 advisors, 56% ranked balancing costs and enhancements to their benefits plans as the top priority—an increase of 10% over last year. 36% ranked cost containment as the top priority—a 17% increase compared to january…, mental health and general employee well-being remain a priority, frank noted that employers have stepped up efforts to provide mental health supports to their employees, paying out $650 million in 2022—more than double the amount at the start of covid-19. black confirmed this, citing conference board research…, uncertainty about the impact of government programs on group insurance, another theme for 2024 is uncertainty around government programs— including pharmacare legislation, the next phase of the dental care program, drug reform via the patented medicine prices review board and new canadian drug agency, as well as a rare…, life and health insurance industry fast facts (, canadian life and health insurance facts 2023 edition, ), provided coverage for over 29 million canadians, or 74% paid out $114 billion in claims: $2 billion a week, an increase of 10% over 2019 paid $650 million for mental health supports, up 10% from 2021 and nearly double the amount paid in 2019. this…
Last Updated2024-01-30