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Employee Group Benefit Specialists
Group Benefit Plans
You never get a second chance to make a first impression when you buy an employee benefit plan!
Why am I making such a strong statement?
When employees receive a new group plan, they and their families will immediately rush out to use the benefits. Employees are pleased the kids much needed dental work is now being completed and expensive prescriptions are being paid for by the insurance plan. The list of services being used seems endless.
What happens at your annual renewal?
Your agent advises you your premiums are going up because the total dollars received by your employees in claims reimbursement is more than you paid during the past year for extended health care and dental care premiums. Now the insurance company wants to recover their losses by increasing your premium and you should realize there is no cap on how much they can raise your rates.
The loss of money, along with some complicated factors and formulas used by the insurance company to calculate your renewal premium, leaves you standing helpless and alone against the insurance company.They use your claims history or claims experience against you to calculate your new premium. Even if you get quotes from other insurance companies your claims history will be used to calculate their rate.
How did you get into such a mess?
Your Claims Experience Priced plan is where your company benefit plan stands alone against the insurance company and has to accept the rates they calculate based upon your claims history. Moving from insurance company to insurance company does not solve your problem. The agent can only offer you another Experience Priced Benefit Plan. It is like the definition of insanity, you keep doing the same thing and expect a different result.
How do I solve my problem?
Pooled Price Benefit plans are the solution. We place you with all our other clients from all occupations. As a member of our benefit pool we buy rates at wholesale, and use professional administrators to negotiate rates at renewal on behalf of all plan members. We negotiate fairer renewal rates on behalf of all members by using millions of dollars of premium as leverage in our negotiations.
As indicated, pooled plans buy their products wholesale directly from the insurance company’s head office and add a modest administration fee. Experience priced plans are purchased from the regional office, with a very high administration fee resulting in your plan being more expensive. We buy from the same major insurance companies other agents do, we just buy differently and more cost efficiently.
We are a select group of trained agents with the capability of selling Pooled Priced Benefit plans. These plans helps us control client costs. We don't have to recommend the reduction of benefits to save premium.
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What do you want to achieve when you buy a group plan?
- Provide higher company morale
- Reduce employee turnover
- Minimize sick days
- Reduce WCB claims
- Earn a good return on your premium dollars
- Meet your corporate goals objectives
- Attract key employees
- Retain employees for a long term
- Maintain employees when they need medical or other services
We have been selling Group benefit plans since 1978; this is a proven and viable system for small to medium size business in Canada. Contact us today to start saving money!