- Manulife (TSX:MFC) has released its inaugural Employee Health Report, shedding light on rising obesity and substance abuse treatment in Canada’s workforce
- The report notes pronounced increases in claims for medications to treat obesity (91.9 per cent) and substance abuse disorders (52 per cent) since 2020
- Manulife is a leading international financial services provider serving more than 35 million customers across insurance, banking and wealth management
- Manulife stock has added 38.85 per cent year-over-year, but only 53.97 per cent since 2019
Manulife (TSX:MFC) has released its inaugural Employee Health Report, shedding light on rising obesity and substance abuse treatment in Canada’s workforce, both of which it considers major trends with significant cross-country impact.
The rise in anti-obesity treatment
Manulife data released Friday shows a 42.3 per cent increase in claims related to anti-obesity drugs in 2023 and a 91.9 per cent increase since 2020, with the starkest increases occurring in Ontario and British Columbia.
While women represent 78.8 per cent of total claimants, the report believes the data suggests “a heightened awareness and concern over weight management across all regions.”
Though widespread coverage of Novo Nordisk’s Ozempic is contributing to public interest in these medications, Health Canada hasn’t approved it for anti-obesity, meaning it was excluded from the report’s findings.
| Anti-obesity claimants by province 2023 |
|
|
Female % |
Male % |
% of claimants in Canada |
YOY growth% |
| Ontario |
79.5 % |
20.5 % |
61.1 % |
55.3 % |
| Quebec |
76.3 % |
23.7 % |
14.6 % |
25.2 % |
| Alberta |
79.4 % |
20.7 % |
10.4 % |
25.6 % |
| British Columbia |
77.1 % |
22.9 % |
6.0 % |
44.5 % |
| Atlantic Canada |
81.3 % |
18.7 % |
5.0 % |
1.6 % |
| Central Canada (MB/SK) |
77.2 % |
22.8 % |
2.2 % |
37.6 % |
| All of Canada |
78.8 % |
21.2 % |
100 % |
42.3 % |
The rise in treatment for substance use disorders
Manulife’s Employee Health Report also highlights a 17.2 per cent year-over-year jump in Canadians seeking treatment for substance use disorders, including alcohol and opioid dependence, representing an alarming 52 per cent increase since 2020.
| Substance use disordertreatment claimants byprovince 2023 |
Number of claimants YOY growth% |
| Ontario |
16.4 % |
| Quebec |
23.6 % |
| Alberta |
19.2 % |
| British Columbia |
17.0 % |
| Atlantic Canada |
4.0 % |
| Central Canada (MB/SK) |
27.3 % |
| All of Canada |
17.2 % |
How employers can help
When it comes to being proactive, Manulife suggests that employers leverage report data for targeted health initiatives, whether that means increased mental health and nutritional services, onsite health screenings and clinics, or wellness seminars and informational sessions, with clear evidence of a reverse correlation between absenteeism and an employer’s prioritization of employee health.
Leadership insights
“As a proud health partner to the millions of Canadians we serve, we see firsthand how important it is for organizations to invest in their employees’ health,” Ashesh Desai, head of group benefits for Manulife Canada, said in a statement. “The 2024 Employee Health Report highlights critical health trends that can affect all Canadians, underscoring the urgency of addressing holistic, end-to-end employee health.”
“These results mean we can all do more to help foster healthier Canadian lives,” Desai said. “Well-being is not just beneficial for bottom lines, but essential for employees’ quality of life. With top organizations showing meaningful productivity gains – up to 13 additional days per employee compared to their counterparts – it is clear that investing in employee health can pay off.”
About Manulife Financial
Manulife is a leading international financial services provider serving more than 35 million customers across insurance, banking and wealth management.
Manulife stock (TSX:MFC) is down by 0.46 per cent, trading at C$34.92 per share as of 11:02 am ET. The stock has added 38.85 per cent year-over-year, but only 53.97 per cent since 2019.
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