What drives the costs of benefits plans?

This article originally appeared on benefitscanada.com.

Those who offer benefits to their employees know how hard it is for administrators to find creative ways to control benefits costs and enhance employee value.

In spite of their best efforts, the Conference Board of Canada says benefits costs escalated by an average of 6.2% between 2010 and 2011. That’s more than twice the rate of inflation.

The top reasons costs rose are the declining health and increasing age of Canadians. Added to the mix is the surge in the number of staffers who are ill or hurt each year. Read more on what drives employee benefits costs.

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