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  • Buy / Sell Agreements | JONES DesLauriers Blevins
    which may trigger the buy sell provision include death permanent disability bankruptcy retirement and disagreements If there is more than one shareholder in the business then it would be best to enter into a shareholder agreement which would set out the agreed upon buy sell arrangements on death disability or retirement In this way it is clear who will end up owning the business A key part of the disability buyout is the definition of disability This definition has to consider the nature of the disability physical mental the extent of the disability quadriplegic loss of limb etc the length of the disability long term short term and the effect on the owner s ability to do his job This may be very difficult to define Sometimes the definition in the disability insurance policy is used for this purpose but care must be taking to ensure that this definition is appropriate Once the definition of disability is agreed upon the issue of how the buyout will be funded needs to be determined Without either of these being well thought out the provision could prove to be unworkable when it is needed most Funding the buyout on death with life insurance

    Original URL path: http://www.jdbgroup.ca/buy-sell-agreements (2016-04-26)
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  • Tax Free Savings Accounts | JONES DesLauriers Blevins
    penalty Choose from a wide range of investment options such as a Daily Savings Account Mutual Funds Guaranteed Investment Certificates GICs or Bonds Contributions are not tax deductible Funds can be transferred or given to a spouse or common law partner for them to invest in their TFSA TFSA assets can generally be transferred to a spouse or common law partner upon death You can designate a beneficiary Any interest

    Original URL path: http://www.jdbgroup.ca/corporate-consulting/group-retirement/group-retirement-products/tax-free-savings-accounts/ (2016-04-26)
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  • Blog | JONES DesLauriers Blevins
    ORPP CPP Update Read More Support for Buddy Bench Read More ORPP Bill Passes Final Vote Read More Fact or fiction people drive your profit productivity and competitiveness Read More It s about cost not about price Read More Are You Protected From Long Term Health Costs Read More Best in Class Companies Engage Their Employees Read More Retirement Savings Plans A Changing Landscape Read More Older posts Latest Blog

    Original URL path: http://www.jdbgroup.ca/group-retirement-products/ (2016-04-26)
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  • Mark Morassutti | JONES DesLauriers Blevins
    Contact Us Privacy Policy AODA Customer Service Standard Blog Author Archives Mark Morassutti ORPP Bill Passes Final Vote Read More Best in Class Companies Engage Their Employees Read More Retirement Savings Plans A Changing Landscape Read More Latest Blog Post JONES DesLauriers Blevins partners with Maple Leaf Angels and MLA48 JONES DesLauriers Blevins JDB is pleased to announce a new partnership with Maple Leaf Angels Corporation MLA and MLA48 MLA

    Original URL path: http://www.jdbgroup.ca/author/mark/ (2016-04-26)
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  • Robert Jones | JONES DesLauriers Blevins
    your profit productivity and competitiveness Read More It s about cost not about price Read More Are You Protected From Long Term Health Costs Read More Biosimilars Read More De mystifying Administrative Services Only ASO Read More Top 5 Employee Benefits Tips for CFOs Read More Top 5 Employee Benefits Tips for Employees Read More Latest Blog Post JONES DesLauriers Blevins partners with Maple Leaf Angels and MLA48 JONES DesLauriers

    Original URL path: http://www.jdbgroup.ca/author/robert-jones/ (2016-04-26)
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  • Biosimilars | JONES DesLauriers Blevins
    rheumatoid arthritis Biosimilars are a follow up to biologic drugs Patents for biologics are expiring creating a market for biosimilars in Canada and around the world Biosimilars are also referred to as subsequent entry biologics SEBs in Canada 2 You will hear some referred to these products as generic biologics however biosimilars are larger molecules than chemical generic products and therefore cannot be considered to be true generics that can be approved without clinical trials Biosimilars or SEB s are considered a copy of the biologic medical product that is similar but not the same to the original medicine This is a new twist on the evolving pharmacy landscape While biosimilars will provide some savings over the comparable biologic drug it is not expected that it will create the same savings that generic substitution drugs did in the synthetic based drugs arena If you want more information on this topic please contact your JDB Group representative or view the following resources What Private Drug Plan Managers Should Know About Biosimilars Biologics and Biosimilars A New Complexity in the World of Medicines 1 An Introduction to Biologics and Biosimilars Amgen 2011 2 Shaping the Biosimilars Opportunity IMS Health 2011 Robert understands

    Original URL path: http://www.jdbgroup.ca/biosimilars/ (2016-04-26)
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  • Administrative Services Only (ASO) | JONES DesLauriers Blevins
    Other factors such as the Incurred but Not Reported IBNR reserve trend credibility expenses profit and risk charges are calculated into the renewal rates Because of the increasing cost of group benefits employers have looked for ways to control these rising costs One method that has grown in popularity is Administrative Services Only ASO An ASO plan is an arrangement where the employer assumes the financial risk in providing benefits to its employees By accepting this risk the employer assumes financial responsibility for payment of eligible claims The overall purpose of ASO is to control the high administration costs charged by the insurance carrier Which Benefits to Consider There are certain lines of benefits that are more appropriate for an ASO arrangement than others For example benefits that cover specific events such as death or disability do not usually lend themselves to this arrangement Life Insurance AD D Dependent Life and Long Term Disability generate less frequent but significant claims Traditional insurance is the best way to approach this coverage Health and Dental benefits may be a more appropriate candidate for an ASO arrangement These benefits normally have a predictable claiming pattern and cover expenses incurred by employees rather than specific events In addition the frequency of claim is high but the amount of each claim does not vary widely Health benefits however do have the potential for catastrophic claims either through emergency medical costs incurred while traveling or significant long term illnesses that could extensively use benefits like prescription drugs private duty nursing etc With this risk most ASO plans have Travel and Stop Loss protection built in to minimize the risk to the employer Decisions Decisions Implementing an ASO plan depends on a company s size demographics claims history and the company s philosophy or tolerance for risk

    Original URL path: http://www.jdbgroup.ca/de-mystifying-administrative-services-only-aso-2/ (2016-04-26)
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  • Top 5 Employee Benefits Tips for CFOs | JONES DesLauriers Blevins
    management issues that should be addressed My top 5 tips today speaks to these risk management issues Conduct a full review with your consultant and insurer of the stop loss protection under your benefits plan Stop loss protection also known as pooling is protection against high unexpected claims Claims above a predetermined pooling limit do not impact your experience read your costs of your plan The most common example of stop loss is under health plans Claims up to let s say 25 000 per person per year would be charged against your plan Anything above 25 000 would be charged against the insurer s pool Other examples of stop loss include durational pooling on long term disability and aggregate stop loss The highest cost areas of most benefit plan are disability claims and drug claims A full review of what you are offering to your employees and the risks associated with these offerings should be done every 3 to 5 years We are now seeing drug claims per person per year for maintenance drugs in the amount of 25 000 50 000 and even 200 000 Most employees claim less than 5 000 on average Review the funding mechanism of your plans regularly How is your plan funded Are you fully insured refund accounted self insured How healthy are the financials under your plan What is your risk exposure What is your risk tolerance Consider the risk exposure when administering an employee benefits plan Is the person responsible for this in house trained well Are there peer review policies in place to ensure proper administration Are your processes defined Insurance companies have very tight contracts that protect them against errors made in administration at the employer level There are ways to minimize this exposure Review if your organization s

    Original URL path: http://www.jdbgroup.ca/top-5-employee-benefits-tips-for-cfos/ (2016-04-26)
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