How to avoid being sued over technicalities in your benefit plan Business owners are often taken to court by their employees over tiny technicalities in their benefit plan. Here’s what can happen, and how to avoid an expensive settlement. Liability #1: Employees who are “Not Actively At Work (NAAW)”. All insurance contracts state that if an […]
Drug plan costs are on the rise, and generic drugs can provide huge savings for sponsors, group insurers and plan members. Generic drug prices are declining, and it’s important to understand generics so that you can take advantage of benefit plan savings. Brand name prescriptions are almost three times more expensive than generics, priced on […]
Market leading insurance companies such as Sun Life Financial and the Co-operators Life Insurance Co are transitioning to generic substitution in an effort to ensure long-term drug plan sustainability. As of recently, all new business to their pay direct and pay deferred drug plans will be set up with mandatory generic substitution. What this means […]
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