On November 22nd, ZLC Employee Benefits Solutions hosted our annual professional development series covering today’s trends in employee benefits and practical strategies to meet the needs of you and your business. Our line-up of speakers shared their insights and expertise during a morning seminar with four engaging sessions.

Session 1 – Financial Update for Employee Benefits Costs

The seminar kicked off with Dan Eisner, an advisor from ZLC Employee Benefits Solutions. He highlighted the persistent challenge of inflation in employee benefits plans. Despite the expected increases for the coming year, he emphasized that inflation isn’t a new factor to consider. Over the past 20 years, annual inflation has varied significantly but has averaged around 6% per year. However, the issue of inflation is even more pertinent these days, as consumer inflation has surged to levels not seen in 40 years. Dan pointed out that employee benefits plan costs are likely to keep rising in the near future, potentially surpassing general inflation (CPI) levels. He shared ZLC’s projected inflation rates for 2024 concerning the following benefit programs:

• Life
• Long-term disability
• Extended health
• Dental

To learn more about how to plan next year, read Dan’s latest article.

Session 2 – Mental Health First Aid: Providing Skills for Mental Health Conversations in the Workplace

Seia Roots, a Community Educator from the Mental Health First Aid / Mental Health Commission of Canada, enlightened our attendees on how first aid response in the workplace also encompasses mental health, and most importantly the training resources that are available so that workplaces can be armed with mental health first aid responders. She shared the latest stats; one in five Canadians will experience a mental health problem, and emphasized the importance of MHFA training in preventing mental health problems from escalating into more serious states. She touched on the foundation of the MHFA course, and its focus on how to have confident and productive conversations about mental health. Her session concluded with sharing tips for fostering a mentally healthy workplace, followed by a Q&A.

Session 3 The Road to Better Outcomes: 2023 MFS Global Retirement Survey

After a quick break, Taylor Pidgeon, Relationship Manager from MFS Investment Management, began his session “The Road to Better Outcomes: 2023 MFS Global Retirement Survey.” MFS sponsored a robust study of 4000 participants that provided insights on:

• How members are using target Date Funds (TDFs)
• Impact of market events on the typical Retirement Saver
• Member views on their retirement confidence
• What forms and methods of advice do members prefer

Taylor took our attendees through the results of the survey and how their employees are thinking about their retirement future.

Session 4 – Understanding Spending Accounts and How They May Work with an Organization’s Benefits Plan

The final session of the seminar was an engaging presentation led by Nancy Pereira, Advisor at ZLC Employee Benefits Solutions, and Tim Kane, CEO of myHSA. Tim covered “Understanding Spending Accounts and How They May Work with an Organization’s Benefits Plan.” He introduced their spending accounts (myHSA, myWSA, Flexplan) and outlined how employers can effectively utilize them as a part of their employee benefits plans. Additionally, he shared insights into the trends they are observing, including the pandemic’s impact.

Thank you to our speakers and attendees, and we hope to see you all next year! If anyone would like a copy of the presentations, please email us at info@zlc.net.

THANK YOU TO OUR SPONSORS