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7% increase in 2022 to benefits

Covid seemed to have brought a couple years of reprieve from the rising costs of Medical and Dental benefits.  This reprieve has put us in a position of complacency.  Was this our new norm?  Are Medical and Dental expenses reducing?

When this survey came out through Benefits Canada, I was a bit frustrated.  How can they know what is happening within each individual group?  As with most news are they just trying to invoke more fear?

As my renewals are coming in my door for the past couple months, there has been increases in costs. Employees are back out using the services you as Employers are so kind to provide to them.  What also is happening is that some of the services required cost more, because of the year or two that employees were not going to the Doctor or Dentist.  I hope after this year, that things will level out again.

On the other hand most companies are trying to retrain and attract employees and are looking at enhancing their benefit plans.

One area that some of the Employers I work with have done is to add an RRSP plan.  By matching the employee’s contribution, it is something that the employees can look at monthly and see their savings increase.  You have control over your portion of the deposit.

If you are looking for ways to retain and attract employees, contact Glendinning Insurance Services at (250) 764-0142.

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