Non-Traditional Group Benefits Plan for Ontario Businesses
I did some researches on what do business owners think about providing group benefits to their employees. Many of them agree it is a good investment to show that the company does care about their employees and healthy workers are critical to their firm’s long-term growth.
However, some employers show concerns on providing traditional group plans.
- Their premium would be wasted when their staffs are not claiming too much.
- On the other hand, their premium would increase a lot when there are high claim ratios. Especially for small businesses with a few employees, one member with very high claims might really drive up the cost.
Therefore, I started looking for alternative solutions and found the Benecaid FlexStyle plan. Then, I met with the Benecaid Benefits Consultant to understand more about their plan designs, and I believe they could tackle the above problems. Below is a 7 minutes of this untraditional group plan. Feel free to contact me if you need to discuss further.