Gavin Mosley, CEBS

🚨 **Calling Out Misleading Claims About the Insurance Industry's Economic Impact** 🚨 A recent report from the Insurance Bureau of Canada (IBC) claims that the property and casualty (P&C) insurance industry is a driver of Canada’s economic strength. According to the report, the industry contributes significantly to GDP, employment, and gender equality, among other things. However, let’s set the record straight: **insurance is dependent on a strong economy, not the other way around**. Insurance companies operate within an economic framework that allows them to thrive, and their success is a reflection of the economy’s health, not its driver. While it’s true that the P&C insurance industry provides essential services and financial safety nets, suggesting it is foundational to the economy is misleading. This narrative often comes from biased sources within lobby groups aiming to enhance their industry’s perceived importance. **Here are some critical points to consider:** - **Economic Dependency**: Insurance companies flourish in robust economies. Their revenues are derived from premiums paid by economically active individuals and businesses. When the economy prospers, people and businesses can afford comprehensive insurance coverage. - **Job Creation**: Although the industry does create jobs, these jobs exist because there is a demand for insurance products generated by a functioning economy. It’s a symbiotic relationship, not a one-way street. - **Investments in Government Bonds**: The significant investment in government bonds by the P&C insurance industry is another reflection of the economy’s strength. These investments are made possible by the financial health of the insurance companies, which in turn depends on the economic environment. Let's critically evaluate the data and remember that lobby groups often promote narratives that serve their interests. It’s time for insurance companies and their lobbyists to stop overstating their importance and acknowledge the broader economic context in which they operate. #Economy #Insurance #EconomicGrowth #FactCheck #InsuranceLobby #EconomicDependency

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Pre-Cert Sentinel - A Novel Cost Mitigation Strategy Woven throughout the health plan cost mitigation dialog for some years now has been the idea of engaging the employee / patient / member in the process. Obviously, without the human being taking part in the programs, the likelihood of achieving better care and cost outcomes is, well, very low. In this post, we'll revisit one of the clinical management components that has been embedded in most health plans for over 3 decades: Pre-Cert. Nobody really talks much about it; seems it was long ago relegated to the dustbin of rubber stamp bureaucratic "why are we doing this?" requirements. But what if it actually holds untapped potential as a powerful sentinel event for transforming health plan cost management strategies - and for fostering a more engaged, healthier population along the way? https://lnkd.in/epjUA6KP #clinicalinterventions #healthmanagement #employeeengagement #employeeexperience #patientengagement #patientexperience #healthtransformation #healthinnovation #costcontainment #healthplancosts

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According to Manulife Financial two big trends stood out in the medication claims data in 2023. The use of anti-obesity medications among plan members has grown substantially, increasing 42.3% year-over-year, and 91.9% since 2020. The number of individuals submitting claims for medications used to treat substance use disorder grew by 52.0% since 2020, and 17.2% from 2022 to 2023. The Wellness Report has found, on average, organizations are losing 49 days of productivity per employee per year due to absenteeism and presenteeism, while the top 3 performing organizations with the healthiest workplace cultures are experiencing 13 additional days of productivity compared to their counterparts. Understanding these trends can help guide you in developing targeted strategies and wellness initiatives that can support employee health in your organization.

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Benefits Canada Healthcare Survey 2024: Key Insights I just attended the live webinar where the latest results of the Benefits Canada Healthcare Survey 2024 were discussed and released today, and here are the key takeaways: 🔹 Plan Sponsors' Perspective: Health benefits plans remain crucial for attracting and retaining talent. However, managing costs is increasingly challenging due to inflation and higher utilization rates. 🔹 Top Utilized Benefits: Drug plans, mental health counseling, physiotherapy, and chiropractic services are the most used benefits by employees. 🔹 Plan Members' Views: Employees see health benefits as essential for managing their health, not just as extra compensation. Many want enhanced coverage for major dental, vision care, and paramedical services. 🔹 Education & Support: There's a growing need for better education and navigation assistance so employees can fully understand and use their benefits, especially for preventative care and chronic condition management. 🔹 Data & Communication: Ongoing data analysis and communication between plan sponsors and employees are key to designing valuable, relevant benefits packages. 📊 With 36% of plan sponsors finding it extremely or very challenging to provide health benefits, now is the perfect time to explore how Benefii Insurance Group can provide valuable insights and strategies to support your benefits plan. Let’s chat about how we can help your organization manage these challenges and keep your employees happy and healthy! (289) 571-9756 [email protected] #GroupBenefits #HealthcareSurvey #EmployeeBenefits #BenefitsCanada #PlanSponsorChallenges #BenefiiInsuranceGroup

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📢 Knowledge is power! Did you know that Workers Compensation Return-to-work programs are essential in supporting employees after an occupational illness or injury? 🛠️ Discover the incredible benefits these programs offer to both employers and employees in our latest infographic. Regain control and empower your workforce with the help of these programs. Check it out now at saiinsurance.com! #KnowledgeIsPower #ReturnToWork #EmployeeWellness 🌟👩‍💼👨‍💼

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In this episode of Disruptors x CDL: The Innovation Era, hosts John Stackhouse and Sonia Sennik dive into the rapidly evolving world of life sciences, exploring how Canada can leverage its strengths to lead in global drug discovery and healthcare innovation.

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Plan sponsors need to weigh the short-term costs of covering Wegovy, an anti-obesity medication, against potential long-term savings. Philippe Laplante, FSA, FICA of Eckler Ltd. notes that while initial expenses may be high, improved health from anti-obesity drugs can reduce chronic disease rates. Appropriate use can be ensured with prior authorization, BMI requirements, and setting coverage limits. Alternatives like mental health support, exercise programs, and nutritionist coverage should also be considered. Educating plan sponsors on holistic obesity treatment is crucial for improving health outcomes and reducing costs. #ObesityMatters #Wegovy #HealthCoverage #EmployeeWellness #WorkplaceWellness Disclaimer: Obesity Matters does not support images that can be stigmatizing to our community. https://ow.ly/EyCH50Si7az

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Benefits Fraud is a Crime Engaging in benefits fraud is a serious offence. If you are caught, you will face charges. Just as you wouldn’t steal a laptop from work, why would you steal benefits? It’s crucial for both you and your employees to recognize, report, and handle fraud effectively. Ensure everyone is informed and vigilant. Contact me or any consultant at Cowan Insurance Group to learn more about the Benefits fraud and how to fight it. #Cowaninsurancegroup #Cowangroup #employeebenefits #benefitsphilosophy #BenefitPlans #FraudPrevention #WorkplaceIntegrity #EmployeeAwareness https://lnkd.in/gtqyVceJ

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I love learning about healthy living. It feels like every book, podcast, or video, impacts the way I live. Slowly, I adopt new behaviours and I eventually start to notice how that makes me feel. As I like to say, I’m “forever in training”. That said, there is a dangerous trend to throw tons of healthy advice into one article (with help from AI perhaps) and then it starts to feel impossible or overwhelming. It’s also important to do the research yourself and to get professional advice on how the science will affect you - specifically. I understand that the below article/opinion looks helpful to the editors of the G&M but it’s also not the most responsible way to educate the average reader/subscriber. https://lnkd.in/gbnMChX7

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Doctors are obviously frustrated with the amount of time required to produce a "sick note". Reality is... you ask for one, you get one (in most cases). If your employee is using a sick day - even when they are not sick (of which they have only so many) then their fellow employees will hold them accountable. Good work culture will set a standard where employees use sick (or personal) days when they truly need them. Set your sick day limits carefully and for sure monitor your average each year. Ask us about absence and disability management and we'll help you find the right support systems and policies. https://lnkd.in/gXjxuppV

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Benefits received from life and health insurance products has increased by 10% since 2019, according to the Canadian Life & Health Insurance Association (CLHIA). These benefits included payments for health insurance claims, life insurance and insurance-based retirement products. #eauclairepartners #canadianhealthinsurnace #canadianhealthcare #canadainsurance #financialplanning

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In the Canadian healthcare context, payors play a crucial role in funding and managing health services. Payors can be broadly categorized into private and public payors. The Health Solutions team services the private insurer and employer markets with unique partnership opportunities. #Insurance #GroupBenefits #HealthSolutions

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Inflation in benefits service costs combined with increasing utilization as employees go back to using the services they used pre-covid is driving benefits costs to unprecedented levels in Canada. Employers need to manage their risk, and negotiate the best possible terms with their insurers. Ready to get serious about managing your benefit plan costs? Talk to an Actuary.

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🚀 As promised, here’s our game-changing executive summary paper: "Protecting Your Greatest Assets: The Critical Role of Addressing Disability Coverage for Executives." 🚀 Top executives are the driving force behind a company's strategic direction and operational efficiency. Ensuring their financial stability through comprehensive disability coverage allows them to focus on their critical responsibilities without the distraction of financial uncertainties. 🔍 Why is this important? - Business Continuity: Proper disability coverage ensures that leadership voids and operational disruptions are minimized. - Fiduciary Responsibility: Companies have a responsibility to protect their key contributors, which in turn protects the company from legal and financial risks. - Equitable Treatment: Fair protection across all employee levels maintains morale and loyalty within the organization. - Competitive Compensation: Attracting and retaining top talent requires comprehensive benefits packages, including disability coverage. - Reputation Management: Companies that prioritize the welfare of their executives are more likely to attract top talent and maintain a positive reputation. Secure your company’s future by ensuring your most valuable assets are protected. Contact me today to learn more about our robust audit on your current executive disability plan to identify areas of underinsurance and position your organization as a leader in employee benefits. 📈 #ExecutiveBenefits #DisabilityCoverage #EmployeeWellbeing #LeadershipProtection #EmployeeBenefits

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