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Hamilton, ON
L8P 1J4

Phone: (905) 777-9990
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Tag Archive: insurance

  1. If you have travel coverage in your group plan, do you need to buy individual travel coverage for your trip?

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    Travel coverage has evolved of late. This is in part due to the world becoming a smaller place and many of us travelling more frequently. We are often asked whether employees should buy individual travel coverage or rely on the group plan’s travel coverage. All plans differ and so the key is to know what your plan provides and what the stability clause is in any travel plan.

    Stability Clause: This terminology refers to what criteria a carrier uses to access if an employee is medically safe to travel. The most common stability clause requires that an employee must be medically stable for the 90 days prior to travelling. This sometimes means no substantial change in medication, no unconfirmed test results, no health conditions not yet fully diagnosed. If an employee cannot meet the carrier’s definition of medically stable, he or she will not pass the stability clause and will not have travel coverage for any pre-existing condition.

    For the above reason, there is no straight answer to the travel question, Should you or shouldn’t you buy extra coverage? It all depends on your medical situation and the restrictions within your group travel policy.

    Please note, should an employee have a pre-existing condition that disallows his/her group travel coverage, there is an individual travel policy where stability is measured in the 7 days prior to travel. So be sure to inquire by contacting your travel carrier to better understand your plan’s medical limitations, should you be concerned. Better to know up front what you are and are not covered for to allow you to explore your travel coverage options.

    If you’d like more information on options to consider when you have a pre-existing condition, please contact Steve Marsh at smarsh@bisinc.ca or 905-777-9990, ext. 200

  2. Don’t have time to manage your benefits? Too busy doing other, more important things? Does it really matter to your bottom line?

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    We are living and working in fast times. With the technological revolution, it is no surprise that we often hear clients say that they just don’t have time to manage their benefits the way they would like to. Yet consider that group benefits cost an employer, on average, $3,500 per employee per year. With inflation this number is fast approaching $4,000 per employee per year, so maybe the question should be: How much are benefits affecting your bottom line?

    The real issue is how to find the time. This is where a trusted advisor can assist your organization. Someone who understands the group insurance business from the insurance carrier side, inside and out, and who can do the leg work that is required to ensure your plan is well designed, managed and negotiated, is key. Find a broker who will spend the time to analyze your group plan and understand your corporate culture and who is willing to invest the time needed to create the best group benefit solution for you and your employees.

    A seasoned group insurance advisor should understand how the insurance carrier/ industry and benefits work and be able to educate you and your employees by simplifying the information in written form, in person or via a multi-media format. We call this cutting through the benefit noise. Understanding group insurance doesn’t have to be complicated as long as a broker you trust is advocating for you and keeping watch over your numerous priorities in order to protect the interests of your organization.

    If you’d like to learn more about what we do for our clients and the creative ideas we implement to protect their plans, please contact Steve Marsh at smarsh@bisinc.ca or 905-777-9990, ext. 200.

  3. What you need to know about cannabis

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    There is so much updated information to share about cannabis. With this in mind, the following is a short summary of the most important things you need to know.

    In most organizations, human resource professionals are adding cannabis to their policies and procedures. It falls in line with other procedures already established under substance abuse. For the most part, pundits suggest little will change in recreational cannabis usage after legalization, but only time will tell.

    Understanding more about cannabis is important to developing your policy. Cannabis has more than 85 molecules or active ingredients, but the two most popular and talked about are THC and CBD. THC (tetrahydrocannabinol) is the molecule within cannabis that provides the hallucinogenic properties or what is referred to as the high. CBD (cannabidiol) does not contain hallucinogenic properties, which is why someone can medically be using cannabis and still be fit to drive.

    Cannabis does not yet have a Drug Identification Number (DIN) or Natural Product Number (NPN). As a result, it is not regularly included under a carrier’s formulary group drug plan. A few carriers have added a cannabis benefit that will allow an employer to add cannabis to their healthcare plan. To date those carriers are Sun Life, Green Shield and Manulife; Great West Life and GroupHEALTH have announced they will add this benefit in January 2019. A cannabis benefit could range between $1,500 and $6,000 per person, per year and requires a prescription to be eligible, but only for certain, specific medical conditions as defined by each carrier. By restricting this benefit to only certain medical conditions, the carrier is preventing the plan from reimbursing for recreational cannabis use.

    For those employers who have a Healthcare Spending Account (HCSA), the Canada Revenue Agency does allow cannabis and cannabis seeds to be reimbursed as an eligible expense, when prescribed by a doctor.

    With this new cannabis industry erupting, we will continue to see things evolving in this arena. For this reason, please note the above summary reflects information as at October 15, 2018. For more updates or advice on how to engineer your organization’s response to this upcoming change, please contact Steve Marsh at smarsh@bisinc.ca or 905.777.9990, ext. 200.

  4. What you need to know about cannabis

    Leave a Comment

    TAG1 Blog photo

    There is so much updated information to share about cannabis. With this in mind, the following is a short summary of the most important things you need to know.

    In most organizations, human resource professionals are adding cannabis to their policies and procedures. It falls in line with other procedures already established under substance abuse. For the most part, pundits suggest little will change in recreational cannabis usage after legalization, but only time will tell.

    Understanding more about cannabis is important to developing your policy. Cannabis has more than 85 molecules or active ingredients, but the two most popular and talked about are THC and CBD. THC (tetrahydrocannabinol) is the molecule within cannabis that provides the hallucinogenic properties or what is referred to as the high. CBD (cannabidiol) does not contain hallucinogenic properties, which is why someone can medically be using cannabis and still be fit to drive.

    Cannabis does not yet have a Drug Identification Number (DIN) or Natural Product Number (NPN). As a result, it is not regularly included under a carrier’s formulary group drug plan. A few carriers have added a cannabis benefit that will allow an employer to add cannabis to their healthcare plan. To date those carriers are Sun Life, Green Shield and Manulife; Great West Life and GroupHEALTH have announced they will add this benefit in January 2019. A cannabis benefit could range between $1,500 and $6,000 per person, per year and requires a prescription to be eligible, but only for certain, specific medical conditions as defined by each carrier. By restricting this benefit to only certain medical conditions, the carrier is preventing the plan from reimbursing for recreational cannabis use.

    For those employers who have a Healthcare Spending Account (HCSA), the Canada Revenue Agency does allow cannabis and cannabis seeds to be reimbursed as an eligible expense, when prescribed by a doctor.

    With this new cannabis industry erupting, we will continue to see things evolving in this arena. For this reason, please note the above summary reflects information as at October 15, 2018. For more updates or advice on how to engineer your organization’s response to this upcoming change, please contact Steve Marsh at smarsh@bisinc.ca or 905.777.9990, ext. 200.



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231 Main Street West, Main Floor
Hamilton, ON
L8P 1J4
Phone: (905) 777-9990
Email: rmarsh@bisinc.ca