BPM Talk

Balancing Benefits Costs and Workforce Needs

   

Canadian employers are navigating one of the most complex benefits environments in recent memory. Drug costs continue to climb, mental health claims remain elevated well above pre-pandemic levels, and a tightening labour market means employees expect more from their group benefits plans, not less. For plan sponsors and HR executives, finding the balance between financial sustainability and workforce wellbeing has become a defining strategic challenge.

In this episode of BPM Talk, Valérie Fernandez, Practice Leader in Global Health Solutions and Strategies in Group Insurance at Beneva, and Michael Kondrat, Director, Sales & Partner Experience, Ontario, Western & Atlantic Canada at Beneva, explore the practical realities of managing group benefits costs without compromising what employees need to stay healthy and engaged. Drawing on Beneva's frontline experience working with Canadian plan sponsors, they share how leading organizations are redesigning their benefits programs, leveraging data, and rethinking their approach to workplace health to achieve both cost discipline and talent resilience.

Key takeaways:

  • Why benefits cost management is no longer a line-item exercise, and what a more strategic approach looks like
  • How plan sponsors can align benefits design with real workforce health trends rather than assumptions
  • The role of workplace health advisors in building proactive, prevention-focused programs
  • Practical frameworks for balancing premium sustainability with meaningful employee coverage
  • What Beneva's group insurance data reveals about the most significant cost drivers in Canadian benefit plans today

Tune in now to hear how leading plan sponsors are moving beyond cost-cutting and building benefits programs built for the workforce of today.

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