Check us out in this month’s Benefits Canada & Avantages

#393

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In the May issues of Benefits Canada and Avantages, you’ll find an informative article written and sponsored by Sun Life Financial on lowering plan costs and increasing plan member perceived value through change.

“Embrace change: The hidden value of a benefits plan refresh”

It’s human nature to take things for granted – and group benefit plans are no exception. Even with a competitive, comprehensive plan worth thousands of dollars per employee each year, organizations still say that rising costs coupled with a low perceived value by employees are their greatest benefit plan challenges.

But there are plan changes you can make that address both of these issues – control costs while engaging employees more and increasing their perception of their benefit plan’s value. It involves a shift to a more collaborative benefits plan model, with employees moving from being passive consumers of benefits to being an integral and active part of a benefits conversation.

We explore that shift in this article – and also answer the top nine questions that plan sponsors, advisors and consultants have about our new Evidence-based drug plan.

The Evidence-based drug plan encourages the use of drugs that offer the best health care value and cost value to employees and employers.. Medical and pharmacy experts assess a drug’s comparative clinical effectiveness, its cost-effectiveness, and people’s actual use of the drug in treating different conditions to determine the level at which it will be covered by the drug plan. Drugs that provide the combined best health care value and cost effectiveness will always have the highest reimbursement level for plan members.

As a result, the Evidence-based drug plan lets plan members easily maintain or increase their levels of reimbursement while providing important cost controls for plan sponsors.

Questions?

Contact your Sun Life Financial group benefits representative.