We asked benefits experts to tell us about the trends and new benefits they’re seeing. They responded:
CRITICAL ILLNESS
The increase in the survival rate from such conditions as life-threatening cancer has lead to an increase in inquiries about benefits like “group critical illness coverage.”
Once a covered individual is diagnosed with one of the insured conditions, a lump sum is issued to the employee. This person can then use the lump sum payment to address many of the items that may not be covered by conventional employee benefit plans. The lump sum payment is available without any stipulations on how this money is to be spent and there is no disability requirement.
-Hana Rubins, Canada Life
The Blue Cross Plans in Canada offer a group critical illness product called LIFELINK. We offer two versions to our clients depending on how conservative they want the definitions and pricing.
-Cindy Comeau, Blue Cross Plans
MASSAGE THERAPY
One suggestion that we as an employment service offer to our clients who are looking for an alternative benefit, is to have a massage therapist come in on a part-time basis.
This helps relax workers, gives them a much deserved break (after working through all those lunches), and therefore makes them more productive workers.
-Jen Sietsma, director of human resources, McDonald-Green Personnel
CONCIERGE
Another benefit we have encountered is to have a concierge on the company payroll. Whether part-time or full-time, a concierge would take care of personal business for employees such as picking up laundry, waiting for the cable guy and running personal errands.
With the huge restructuring of the ’90s, people have to do more with less. Longer hours, mental stress, and fatigue are common factors in today’s labour force.
Having a concierge to worry about errands that must be done during business hours, is a great relief to employees.
-Jen Sietsma, director of human resources, McDonald-Green Personnel
WELLNESS
Wellness programs are becoming an important benefit for employers and employees. These programs address the employees’ desire for good health which directly affects production, and employers’ desire to control the costs of their health insurance programs. Wellness programs can include nutrition programs, exercise facilities, health information or even adjusting the company cafeteria menu to provide more healthy food and drink. An increase in concern for controlling health-care costs is promoting wellness approaches which are becoming a more popular benefit.
-Monica La Lomia, Corporate Recruiter, Everest Management Network Inc.
COMPUTERS
Ford’s delivery of computers and Internet service to all its employees is one of the most ambitious employee benefit initiatives I’ve seen in a long time.
-Art Babcock, vice-president, Edmonton office, Aon Consulting
HCSA
One of the most useful tools in the flexible workplace is the Health Care Spending Account (HCSA) which provides employees with a tax-effective method of spending their health-care dollars. It can be used to cover medical expenses spanning a two-year period.
An HCSA is a health and/or dental benefit which can be used by an employee to pay for those benefits not covered under core health and dental plans. It can be part of a flex benefit program, or supplementary to a traditional benefits program. (It should not be the employee’s only source of extended health-care coverage.) HCSAs are also called: health and dental spending accounts, flexible spending accounts or executive top-ups.
The two most common strategies used by spending accounts are:
•unused flex credits, allocated to a spending account as part of a flex benefit plan; and
•a defined contribution arrangement – for instance, the employer provides a flat annual amount (or percentage of salary) to a spending account for employees.
This type of plan — a spending account — is tax-free, except for Quebec’s provincial taxes, and as long as it falls within certain restrictions of the ITA.
-Sandra Pellegrini, senior consultant, health and benefits, Aon Consulting
FINANCIAL WEB CONSULTING
FINACTIVE is a virtual, one-stop finance centre for employees, complete with information, tools and professional advice to help Ontarians manage their personal finances. It is combined with GlobalMedic, an online health management service, and employees can use the service to organize and manage their lives, financially, psychologically and physically.
-Louise d’Anjou, communications manager, GlobalMedic
Do you know of an innovative benefit?
Do you know an unusual benefit that would be of interest to our readers? Tell us about it. Send an e-mail with a brief description of the benefit to [email protected]. Include your name, title and company name – submissions cannot be published without this information.
CRITICAL ILLNESS
The increase in the survival rate from such conditions as life-threatening cancer has lead to an increase in inquiries about benefits like “group critical illness coverage.”
Once a covered individual is diagnosed with one of the insured conditions, a lump sum is issued to the employee. This person can then use the lump sum payment to address many of the items that may not be covered by conventional employee benefit plans. The lump sum payment is available without any stipulations on how this money is to be spent and there is no disability requirement.
-Hana Rubins, Canada Life
The Blue Cross Plans in Canada offer a group critical illness product called LIFELINK. We offer two versions to our clients depending on how conservative they want the definitions and pricing.
-Cindy Comeau, Blue Cross Plans
MASSAGE THERAPY
One suggestion that we as an employment service offer to our clients who are looking for an alternative benefit, is to have a massage therapist come in on a part-time basis.
This helps relax workers, gives them a much deserved break (after working through all those lunches), and therefore makes them more productive workers.
-Jen Sietsma, director of human resources, McDonald-Green Personnel
CONCIERGE
Another benefit we have encountered is to have a concierge on the company payroll. Whether part-time or full-time, a concierge would take care of personal business for employees such as picking up laundry, waiting for the cable guy and running personal errands.
With the huge restructuring of the ’90s, people have to do more with less. Longer hours, mental stress, and fatigue are common factors in today’s labour force.
Having a concierge to worry about errands that must be done during business hours, is a great relief to employees.
-Jen Sietsma, director of human resources, McDonald-Green Personnel
WELLNESS
Wellness programs are becoming an important benefit for employers and employees. These programs address the employees’ desire for good health which directly affects production, and employers’ desire to control the costs of their health insurance programs. Wellness programs can include nutrition programs, exercise facilities, health information or even adjusting the company cafeteria menu to provide more healthy food and drink. An increase in concern for controlling health-care costs is promoting wellness approaches which are becoming a more popular benefit.
-Monica La Lomia, Corporate Recruiter, Everest Management Network Inc.
COMPUTERS
Ford’s delivery of computers and Internet service to all its employees is one of the most ambitious employee benefit initiatives I’ve seen in a long time.
-Art Babcock, vice-president, Edmonton office, Aon Consulting
HCSA
One of the most useful tools in the flexible workplace is the Health Care Spending Account (HCSA) which provides employees with a tax-effective method of spending their health-care dollars. It can be used to cover medical expenses spanning a two-year period.
An HCSA is a health and/or dental benefit which can be used by an employee to pay for those benefits not covered under core health and dental plans. It can be part of a flex benefit program, or supplementary to a traditional benefits program. (It should not be the employee’s only source of extended health-care coverage.) HCSAs are also called: health and dental spending accounts, flexible spending accounts or executive top-ups.
The two most common strategies used by spending accounts are:
•unused flex credits, allocated to a spending account as part of a flex benefit plan; and
•a defined contribution arrangement – for instance, the employer provides a flat annual amount (or percentage of salary) to a spending account for employees.
This type of plan — a spending account — is tax-free, except for Quebec’s provincial taxes, and as long as it falls within certain restrictions of the ITA.
-Sandra Pellegrini, senior consultant, health and benefits, Aon Consulting
FINANCIAL WEB CONSULTING
FINACTIVE is a virtual, one-stop finance centre for employees, complete with information, tools and professional advice to help Ontarians manage their personal finances. It is combined with GlobalMedic, an online health management service, and employees can use the service to organize and manage their lives, financially, psychologically and physically.
-Louise d’Anjou, communications manager, GlobalMedic
Do you know of an innovative benefit?
Do you know an unusual benefit that would be of interest to our readers? Tell us about it. Send an e-mail with a brief description of the benefit to [email protected]. Include your name, title and company name – submissions cannot be published without this information.
