2023 Forecast:
What’s Trending and How We’re Responding
Posted by Shane Reid on January 18, 2023
What’s Trending and How We’re Responding
2023 Forecast:
What’s Trending and How We’re Responding
Posted by Shane Reid on January 18, 2023
We surveyed the landscape and analyzed our data to predict the top health trends to watch for in 2023 — and share how we’re staying ahead of them with proactive solutions that address the challenges and embrace the opportunities that come with change.
Looking back, our 2022 forecast accurately recognized the impact of COVID-19 on health, disability and pharmacy benefits management. Notably, the pandemic accelerated trends that were already reshaping the landscape, such as maturing consumerism and digital innovation, the adoption of virtual care, and the need for greater workplace support to address mental health, diabetes and other chronic conditions.
So, what’s in store for 2023? Looking ahead, we can confidently predict that these trends will continue to fuel transformative change, requiring us to remain attentive, agile and amenable to it.
Increasingly, employers are modernizing their benefit plans with solutions that are flexible and inclusive, from fertility and gender affirmation benefits to digital innovations. Not only will these solutions help keep employees healthy, safe and on the job, but they will also help give employers a competitive edge in retaining and attracting top talent — an important consideration in today’s candidate-driven labour market.
Optionality
One-size-fits-all benefit plans no longer cut it with today’s diverse workforce. Employers who want to win the war on talent require comprehensive and sustainable packages with built-in flexibility and optionality in their arsenal. A great example is our constantly evolving employee-paid suite of optional benefits, a turnkey solution that enables members to select critical illness, life insurance, AD&D and Online Doctor coverage, calculate their rates and enroll for their benefits within minutes through our industry-leading digital platform — adding value to plans without the cost or paperwork for plan sponsors.
Flexibility
Flexibility is key to modern benefit plan design. Employers are increasingly adding customizable options like Health Spending Accounts (HSA) and Personal Wellness Accounts (PWA) to their packages that offer employees greater coverage, choice — and control — over how they contribute to their mental, social, physical or financial wellbeing and spend their benefit dollars.
Optionality
One-size-fits-all benefit plans no longer cut it with today’s diverse workforce. Employers who want to win the war on talent require comprehensive and sustainable packages with built-in flexibility and optionality in their arsenal. A great example is our constantly evolving employee-paid suite of optional benefits, a turnkey solution that enables members to select critical illness, life insurance, AD&D and Online Doctor coverage, calculate their rates and enroll for their benefits within minutes through our industry-leading digital platform — adding value to plans without the cost or paperwork for plan sponsors.
Flexibility
Flexibility is key to modern benefit plan design. Employers are increasingly adding customizable options like Health Spending Accounts (HSA) and Personal Wellness Accounts (PWA) to their packages that offer employees greater coverage, choice — and control — over how they contribute to their mental, social, physical or financial wellbeing and spend their benefit dollars.
Affordability and Access to Medication
Drug prices continue to be the biggest cost driver for plans. As a Pharmacy Benefit Manager, we continue to look at optimized plan spending with direct drug and pharmacy pricing negotiations while ensuring a fully integrated claims adjudication experience with technological innovations for plan management. Our outlook is that successful medication coverage and long-term plan sustainability will be determined by drug solutions that are administration-free, automated and focus on evidence, adherence, and convenient access to medication.
Benefits Integration and Cross-Utilization
The connection between health and drug benefits is of growing importance to maximize outcomes and the value of a benefits plan. As an integrated drug, health and disability provider, our data continues to point towards the value of holistic benefits. Our Mental Health, Managing Chronic Disease, Gender Affirmation and Fertility benefits bridge the gap between access to treatment services and medication, especially since there are high costs and even higher productivity indicators if left unmet. By continuing to innovate our digital health offering, members will be able to access a complete health experience at their convenience.
Affordability and Access to Medication
Drug prices continue to be the biggest cost driver for plans. As a Pharmacy Benefit Manager, we continue to look at optimized plan spending with direct drug and pharmacy pricing negotiations while ensuring a fully integrated claims adjudication experience with technological innovations for plan management. Our outlook is that successful medication coverage and long-term plan sustainability will be determined by drug solutions that are administration-free, automated and focus on evidence, adherence, and convenient access to medication.
Benefits Integration and Cross-Utilization
The connection between health and drug benefits is of growing importance to maximize outcomes and the value of a benefits plan. As an integrated drug, health and disability provider, our data continues to point towards the value of holistic benefits. Our Mental Health, Managing Chronic Disease, Gender Affirmation and Fertility benefits bridge the gap between access to treatment services and medication, especially since there are high costs and even higher productivity indicators if left unmet. By continuing to innovate our digital health offering, members will be able to access a complete health experience at their convenience.
Digital Health
Today’s employers have to meet employees where they’re at — and for a very large percentage of employees, that’s online. Adding technology-enabled health services like online counselling will provide employees with targeted, expedited care — and on their terms. Our digital health platform, Connected Care, continues to expand as it provides plan members with new choices on how to take control of their health, offering a suite of internet-enabled services, from mental health support to virtual physiotherapy. And for managing your health and benefits, our Medavie Blue Cross mobile app and newly enhanced Member Services Site offer member choice for how to access the supports they need, with unique functionalities to help members manage their medications, connect with health professionals in their communities and more.
Chronic Disease
As the biggest driver of benefit plan spending, chronic health conditions like diabetes, arthritis and asthma/COPD are a key area of focus for Medavie Blue Cross. Year over year, the Benefits Canada Healthcare Survey reports that nearly 60% of plan members in Canada have been diagnosed with at least one chronic condition. We have consistently demonstrated our commitment to innovative member solutions to these challenges: we were the first to market with Diabetes Care, a digital health solution that provides all-in-one access to a glucose monitoring tool, home-delivered test strips, and the counselling and education services of a health coaching team. Additionally, the Managing Chronic Disease Benefit, also an industry first, is available to treat other chronic conditions such as high blood pressure, high cholesterol, asthma and to help members quit smoking.
Digital Health
Today’s employers have to meet employees where they’re at — and for a very large percentage of employees, that’s online. Adding technology-enabled health services like online counselling will provide employees with targeted, expedited care — and on their terms. Our digital health platform, Connected Care, continues to expand as it provides plan members with new choices on how to take control of their health, offering a suite of internet-enabled services, from mental health support to virtual physiotherapy. And for managing your health and benefits, our Medavie Blue Cross mobile app and newly enhanced Member Services Site offer member choice for how to access the supports they need, with unique functionalities to help members manage their medications, connect with health professionals in their communities and more.
Chronic Disease
As the biggest driver of benefit plan spending, chronic health conditions like diabetes, arthritis and asthma/COPD are a key area of focus for Medavie Blue Cross. Year over year, the Benefits Canada Healthcare Survey reports that nearly 60% of plan members in Canada have been diagnosed with at least one chronic condition. We have consistently demonstrated our commitment to innovative member solutions to these challenges: we were the first to market with Diabetes Care, a digital health solution that provides all-in-one access to a glucose monitoring tool, home-delivered test strips, and the counselling and education services of a health coaching team. Additionally, the Managing Chronic Disease Benefit, also an industry first, is available to treat other chronic conditions such as high blood pressure, high cholesterol, asthma and to help members quit smoking.
Mental Health
The evidence is clear of the toll concurrent global health, and economic crises are taking on our mental health. Conditions such as depression and anxiety accounted for 22% of all chronic condition diagnoses in 2022, according to the Benefits Canada Healthcare Survey. The mental wellbeing of plan members is a top priority for Medavie Blue Cross, as evidenced by the Mental Wellness options we offer through our Connected Care storefront, including being connected with an accredited therapist by video, text messaging or self-directed iCBT program, as well as our Expanded Mental Health Practitioners Benefit, our Employee and Family Assistance Program, inConfidence, and our wellness portal, MyGood Health.
Disability Management
Given the extension of the Employment Insurance (EI) sickness benefits from 15 to 26 weeks, it is important for plan sponsors to consider the value of a disability management program
for proactive and preventive measures that go beyond what a provincial program can offer, especially since a majority of the claims relate to mental health. With the rising disability rates in Canada, having a strong solution is a must-have for members to receive the right support for a timely return to work. Look for more enhancements in 2023.
Mental Health
The evidence is clear of the toll concurrent global health, and economic crises are taking on our mental health. Conditions such as depression and anxiety accounted for 22% of all chronic condition diagnoses in 2022, according to the Benefits Canada Healthcare Survey. The mental wellbeing of plan members is a top priority for Medavie Blue Cross, as evidenced by the Mental Wellness options we offer through our Connected Care storefront, including being connected with an accredited therapist by video, text messaging or self-directed iCBT program, as well as our Expanded Mental Health Practitioners Benefit, our Employee and Family Assistance Program, inConfidence, and our wellness portal, MyGood Health.
Disability Management
Given the extension of the Employment Insurance (EI) sickness benefits from 15 to 26 weeks, it is important for plan sponsors to consider the value of a disability management program
for proactive and preventive measures that go beyond what a provincial program can offer, especially since a majority of the claims relate to mental health. With the rising disability rates in Canada, having a strong solution is a must-have for members to receive the right support for a timely return to work. Look for more enhancements in 2023.
Diversity, Equity and Inclusion (DEI)
Supporting a diverse workforce is top of mind for many employers, and health benefits play an important role. By taking steps toward inclusivity, employers can ensure that everyone they employ, and serve, feel welcomed, understood and affirmed. We recommend that employers look at their current offerings through a DEI lens to ensure all employees are represented in the benefit plans and services offered. We’re constantly evolving our benefits offering to be as inclusive and accessible as possible, including offering a gender affirmation benefit, expanded mental health coverage, expedited access to expert care and a fertility benefit.
Hybrid and Remote Work Options
In today’s competitive job market, wise employers are not only flexing their benefits, but their work arrangements. If working remotely is an option, employers can include supports to help them work safely and productively at home. For example, through their PWAs, employers can subsidize the cost of glare-reducing glasses that protect the vision of their employees or ergonomic chairs to prevent back pain and provide comfort. Moreover, given the impact of inflation on bottom lines, flexible benefits like PWAs are a smart, affordable choice for businesses of all sizes.
Diversity, Equity and Inclusion (DEI)
Supporting a diverse workforce is top of mind for many employers, and health benefits play an important role. By taking steps toward inclusivity, employers can ensure that everyone they employ, and serve, feel welcomed, understood and affirmed. We recommend that employers look at their current offerings through a DEI lens to ensure all employees are represented in the benefit plans and services offered. We’re constantly evolving our benefits offering to be as inclusive and accessible as possible, including offering a gender affirmation benefit, expanded mental health coverage, expedited access to expert care and a fertility benefit.
Hybrid and Remote Work Options
In today’s competitive job market, wise employers are not only flexing their benefits, but their work arrangements. If working remotely is an option, employers can include supports to help them work safely and productively at home. For example, through their PWAs, employers can subsidize the cost of glare-reducing glasses that protect the vision of their employees or ergonomic chairs to prevent back pain and provide comfort. Moreover, given the impact of inflation on bottom lines, flexible benefits like PWAs are a smart, affordable choice for businesses of all sizes.
What’s Next
While we can’t fully anticipate what’s on the horizon, it’s clear that health care and health benefits delivery will continue to get smarter, more targeted and more personalized, spurred by ongoing shifts in workplace demographics, technological advances, product innovations and more. How we turn change into opportunity will be key to our success.
And on that note, here’s to a healthy, productive and prosperous 2023!
Learn More
Connect with your Medavie Blue Cross representative to discover how, as Canada’s only fully integrated health, drug and disability carrier, we can offer benefits that are tailor-made to fit your organization’s unique needs and plan philosophy.
Shane has an extensive background in Group Benefits and strong track record in advancing growth objectives and developing leaders and product teams across Canada. He has held leadership positions in new market growth initiatives, business development, operational effectiveness and disability management. Shane is responsible for leading the development of innovative...