benefits february 2013
DESCRIPTION
Half day open training event held in Toronto.TRANSCRIPT
The benefits of benefits in Ontario
by Toronto Training and HR
February 2013
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
Page 3
Introduction
Page 4
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
Page 5
Definition
Page 6
Definition
• Definition• Strategic perspectives• Considerations• How is the typical
dollar spent?• Decisions affecting
benefit design
Page 7
Types of benefits
Types of benefits
• Core benefits• Supplemental benefits
Page 8
Page 9
Finding the best of breed
Finding the best of breed
• Benefit design• Cost• Underwriting• Claims• Administration
Page 10
Page 11
Different approaches
Different approaches
• Reactive• Proactive• Preventative
Page 12
Page 13
Benefits fraud
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
Page 15
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.
Benefits fraud 3 of 3
TIPS TO MINIMIZE THE CHANCE OF FRAUD• Prevention• Deterrent• Detection• Investigation• Recovery/remediation
Page 16
Page 17
Getting the best from voluntary benefits
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
Page 18
Page 19
Return on investment
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
Page 21
Benefits communication
Benefits communication 1 of 2
• Types of learner• Why use a third party?• Criteria for selection• The enrollment process
Page 22
Benefits communication 2 of 2
EVALUATING A STRATEGY• Audit• Test• Measure
Page 23
Page 24
Drill
Page 25
Drill
Page 26
Security benefits
Security benefits
• Workers’ compensation
• Unemployment compensation
• Severance pay
Page 27
Page 28
Flexible benefits
Page 29
Flexible benefits
• Definition• Disadvantages
Page 30
Retirement benefits
Retirement benefits
• Social security• Personal savings• Pension plan practices
Page 31
Page 32
Disability benefits
Page 33
Disability benefits
• Social security• Personal savings• Pension plan practices
Page 34
Comparing dental benefits
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
Page 35
Page 36
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
Comparing dental benefits 3 of 3
• Credit for deductibles• Claims experience and
reporting• Exclusions
Page 37
Page 38
Death benefits/life insurance
Death benefits/life insurance
• Social security• Employment practices
Page 39
Page 40
Health benefits
Health benefits 1 of 3
• Aging workforce• Prevailing practices• Retiree health
Page 41
Health benefits 2 of 3
MEASURING THE EFFECTIVENESS• Test/control group
methods• Population-wide
analyses• Longitudinal studies of
participants• Qualitative
assessmentsPage 42
Page 43
Health benefits 3 of 3
MEASUREMENT CONSIDERATIONS• Data sources• Data credibility• Years to be included• Populations to be
included• Outliers• Savings criteria• Diagnoses excluded
Page 44
Paid time off
Paid time off• Vacation• Sick leave• Long term disability
• Questions to ask
Page 45
Page 46
Engaging Gen Y workers with benefits
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
Page 47
Page 48
Case studies
Page 49
Conclusion and questions
Page 50
Conclusion and questions
SummaryVideosQuestions