Benefits February 2013
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Transcript of Benefits February 2013
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The benefits of benefits in Ontario
by Toronto Training and HR
February 2013
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Contents3-4 Introduction to Toronto Training and HR5-6 Definition7-8 Types of benefits9-10 Finding the best of breed11-12 Different approaches13-16 Benefits fraud17-18 Getting the best from benefits fraud19-20 Return on investment21-23 Benefits communication24-25 Drill26-27 Security benefits28-29 Flexible benefits30-31 Retirement benefits32-33 Disability benefits34-37 Comparing dental benefits38-39 Death benefits/life insurance40-43 Health benefits44-45 Paid time off46-47 Engaging Gen Y workers with benefits48 Case studies49-50 Conclusion and questions
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Introduction
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Introduction to Toronto Training and HR
Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden 10 years in banking10 years in training and human resourcesFreelance practitioner since 2006The core services provided by Toronto Training and HR are:
Training event designTraining event deliveryReducing costs, saving time plus improving employee engagement and moraleServices for job seekers
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Definition
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Definition
• Definition• Strategic perspectives• Considerations• How is the typical
dollar spent?• Decisions affecting
benefit design
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Types of benefits
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Types of benefits
• Core benefits• Supplemental benefits
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Finding the best of breed
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Finding the best of breed
• Benefit design• Cost• Underwriting• Claims• Administration
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Different approaches
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Different approaches
• Reactive• Proactive• Preventative
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Benefits fraud
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Benefits fraud 1 of 3
• Claims for services not actually rendered
• Providers performing services outside of their scope of practice or licensing (e.g., there have recently been cases of practitioners giving Botox injections with materials sourced from other countries)Page 14
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Benefits fraud 2 of 3
• Unlicensed individuals performing insurable services
• The provision of treatment over and above what is needed by the insured patient
• Kickbacks or illegal referral payments.
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Benefits fraud 3 of 3
TIPS TO MINIMIZE THE CHANCE OF FRAUD• Prevention• Deterrent• Detection• Investigation• Recovery/remediation
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Getting the best from voluntary benefits
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Getting the best from voluntary benefits
• Vet them as carefully as other benefits
• Examine closely to know what you are getting for the money
• May put all benefits on a single platform to ensure consistency and reduce duplication
• Larger organizations can use their size to gain economies of scale
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Return on investment
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Return on investment
• Select a metric• Establish a base line• Subtract the base line
from the metric throughout the duration of the program
• Divide by program cost
• Common measurementsPage 20
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Benefits communication
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Benefits communication 1 of 2
• Types of learner• Why use a third party?• Criteria for selection• The enrollment process
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Benefits communication 2 of 2
EVALUATING A STRATEGY• Audit• Test• Measure
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Drill
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Drill
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Security benefits
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Security benefits
• Workers’ compensation
• Unemployment compensation
• Severance pay
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Flexible benefits
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Flexible benefits
• Definition• Disadvantages
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Retirement benefits
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Retirement benefits
• Social security• Personal savings• Pension plan practices
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Disability benefits
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Disability benefits
• Social security• Personal savings• Pension plan practices
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Comparing dental benefits
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Comparing dental benefits 1 of 3
• Dental network• Dental claim vs.
medical claim• Oral surgery• To-go features• Family share plans• Diagnostic and
preventative• Frequency of cleanings
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Comparing dental benefits 2 of 3
• Orthodontic age• Balance billing-above
usual and customary charges
• Out of network• Periodontics and
endodontics• Waiting periods for
major services and orthodontia
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Comparing dental benefits 3 of 3
• Credit for deductibles• Claims experience and
reporting• Exclusions
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Death benefits/life insurance
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Death benefits/life insurance
• Social security• Employment practices
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Health benefits
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Health benefits 1 of 3
• Aging workforce• Prevailing practices• Retiree health
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Health benefits 2 of 3
MEASURING THE EFFECTIVENESS• Test/control group
methods• Population-wide
analyses• Longitudinal studies of
participants• Qualitative
assessmentsPage 42
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Health benefits 3 of 3
MEASUREMENT CONSIDERATIONS• Data sources• Data credibility• Years to be included• Populations to be
included• Outliers• Savings criteria• Diagnoses excluded
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Paid time off
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Paid time off• Vacation• Sick leave• Long term disability
• Questions to ask
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Engaging Gen Y workers with benefits
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Engaging Gen Y workers with benefits
• Use technology where appropriate
• Build a foundation for one-on-one counselling
• Combine convenience with good content
• Employ multiple touch points
• Make it interactive
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Case studies
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Conclusion and questions
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Conclusion and questions
SummaryVideosQuestions