What
is it
As
one of the few remaining forms of tax effective compensation
in Canada, group benefits have become a key component in
a total rewards strategy.
A typical
group benefits plan includes:
-
term life insurance
- accidental
death & dismemberment coverage
- disability
insurance
- health
care coverage
- dental
care coverage
There
are several options available to an employer for how they
fund the plan as well as in the actual plan design itself.
These options, in most cases, are linked directly to the
size of the organization.
How
can we help
Since
it is part of an employee's total compensation package and,
for an average plan, represents 3 – 5 % of salary,
group benefits are grabbing the attention of most employers.
With inflation in health care running at double-digits and
provincial health plans off-loading coverage, the costs
of group benefits can increase faster than other operating
costs, including cash compensation, unless appropriate diligence
is applied.
The
professionals at The Hull Group bring a full range of expertise
to you that will supplement your internal skill-sets. Our
group underwriting, claims management, plan design and actuarial
skills will help you:
-
ensure your plan design is competitive among your industry
group
- arrange
a financial agreement that is suited to an organization
of your size and that fits your overall philosophy
- remain
current on evolving issues in the market, e.g. new products
- maximize
the service levels from your insurance and specialty providers
- monitor
your providers for contract compliance, competitive costs
and service levels
- stay
in touch with your plan’s experience on a scheduled
basis
The
Hull Group professionals will tailor a solution to your
needs. Our knowledge of the market is based on a combination
of our years of experience in this industry and our volumes
of business with the markets.
