Welcome back to the Friday GAB where I round up the news from the week and share it with you. What’s the what this week you ask? It was a big one! As always email me the news you see! I’m not an oracle (yet) so I do miss things. firstname.lastname@example.org
Dental fee guides were updated and they aren’t pretty. BC is leading the pack with a 7.35% increase. NS is also in the 7% club Most provinces are close to 5% - ON is at 4.75 after a 4 and change increase last year. Alberta is enjoying their first ever fee guide increase – welcome to the fee guide club!
Impact to claims is obvious which means that employees can expect to pay more out of pocket and hit their maximums faster. Employers should be budgeting for higher than normal rate changes.
ON made a big announcement yesterday. The province is seeking advice on designing benefit plans tied to workers, not employers. This advisory panel will advise on how benefits can reside with the worker and provide recommendation on how to administer this program. CLHIA tweeted about it.
GSC had a big week.
They announced that JP Girard has joined as the EVP and Head of Insurance. Congrats JP! Along with a partnership with Alavida and Rise People. You may recall that Sun Life has begun to move away from Rise.
ON isn’t’ the only province up to stuff
Alberta, NS and Quebec are moving into new phases of biosimilar switching programs and BC has given physicians the power to prescribe a park pass.
In other carrier news
Equitable Life announced a preferred biosimilar program. This program will generate additional savings for plan sponsors in a time where we all really need to reduce cost. The program will take effect March 1, 2022 for all NEW claimants and May 1, 2022 for existing claimants in Alberta who are switching to a Humira biosimilar as to align with the changes to the provincial plan.
Sun Life is moving their EFAP to the Lumino Health platform (powered by Dialogue). As of June 1, 2022 the EAP with RightDirections (powered by LifeWorks) will no longer be available and clients will transition to Lumino Health. Clients will need to sign a new EAP application. Depending on which level of EAP clients had they will either face an increase or decrease in their EAP rates.
I’m a fan of advisors curating their own suite of value partnerships so you don’t have so many services tied to the insurer and you have fewer products hiding in the healthcare rates. On the one hand, a common bill is nice, but on the other hand it’s a nightmare for employees moving their EAP, wellness program, virtual care provider, second opinion program, optional insurance and more when you move the benefits program.
Also in Sun Life news they have launched a new feasibility study for disability management.
As always contact your local Account Executive for more information. And that’s this week’s tea!
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