Employee Group Benefit Insight
An Informal Reference Guide
by
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Life After Pot
What will it mean?
Medical marijuana has become a consistent element of discussion under a group benefit plan these last years. With the availability of being able to process claims for medical marijuana under a health spending account, it is only a matter of time where the access of coverage under the mainstream—core—benefit package becomes the norm. The reason medical marijuana is not included in health plans is because Health Canada has still not issued it a drug identification number (DIN).
The end of the prohibition for recreational use by the federal government enables anyone over the age of 18 to purchase up to 30-grams of dried or fresh cannabis. In two separate bills, the Liberals plan to regulate the recreational side, as well as impose stringent measures against impaired driving. Because provinces will be responsible for distribution and sale, they also have the power to increase the minimum age if they see fit.
As cannabis use because more normalized in the years to come, it is likely Canada’s main providers will come on board. But with the high costs of drugs being an issue, segmenting and encouraging overall maximums, applied health-related situations, like only allowing the usage to treat such illness like cancer, multiple sclerosis and the like may be necessary to curb escalating costs.
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About the Book
Someone once said to make people understand the value of life insurance, you have to back the hearse up to the door.
Nothing so drastic is required, but it helps to have stories to illustrate value, which is why employee benefit specialist Lori Power wrote this informal reference guide to help human resources professionals and business owners learn about employee group benefit plans. She answers questions such as:
When should an employer consider adding a benefit plan?
How can a company use a benefit plan as a compensation tool?
How can a company better manage the escalating costs?
Why is a broker necessary to get a quotation?
She also shares twenty advantages of employee group benefits as well as various insurance industry scenarios told through real events experienced by real clients.
If you’re a business owner, human resources professional, decision maker or plan administrator, you’ll be better equipped to navigate benefit plans with the lessons in this guide.
About the Author
Lori Power is a business owner, author, and public speaker who believes any job worth doing is worth doing well. As a benefit specialist, she strives to ensure her clients have the best employee group benefit plans possible with options custom designed to suit their needs. She is a board member of Advocis and a member of the Canadian Group Insurance Brokers, the Human Resource Institute of Alberta, and the Canadian Association of Life Underwriters.