MP Benefits Perspective
Since 2001, MP Benefits Inc. has operated as an independent group benefit consultant, specializing in designing strategic employee group benefit plans to align with the corporate, compensation, culture, and wellness policies of each corporation.
Productivity
Throwing Money to the Wind
Many times, when I am asked to review a benefit plan is because the plan isn’t working. This typically is because: · Costs seem to outweigh benefit · The plan isn’t performing as expected Not unexpected, as these plans are analyzed a lot is revealed. · ...
Getting the job done [the Blue Jays example]
Business owners know, just showing up doesn’t create the traction necessary to move companies to the next level. All systems have to be aligned, people positioned in the correct roles and the team focused, clearly understanding the processes to achieve the goals. For...
Three Reasons to Align Your Benefit Plan
IF…a company is only as successful as its people… THEN…aligning benefits to: 1. Productivity 2. Safety 3. Compensation Becomes a no brainer to: 1. Reduce turnover, attract and retain top talent 2. Improve company culture 3. Increase performance...
Consulting
Know enough to be DANGEROUS
We’re all familiar with the saying popularized by Alexander Pope’s poetry. We deploy the phrase when we’ve heard something on the news, or read a concept in a book, perhaps it’s a niche part of your industry, but not something that you specialize in. Like the phrase...
Your Best Worker
Data support this; “Your best worker didn’t leave for money. They left for better benefits.” Now what are you going to do about this to prevent it from happening again to your next best hire? Consider that in Canada, an employee group benefit plan typically accounts...
If the only consideration was rates
Too many times, when it comes to measuring what makes a good benefit plan, the only data used are the rates. This leads to false conclusions and the deterioration of coverage. How easy would the job of the consultant be if the conversation began and ended with...
Benefits
COORDINATION OF BENEFITS …
Coordination of benefits means two or more benefit plans working together on the same claim, so that the combined payment covers more of the cost than either plan would pay on its own. If you and your spouse each have coverage through work, coordinating properly can...
You’re asking…and we’re glad you do
Employee group benefit plans have a lot of moving parts, for a lot of different people. · Life Insurance · Disability · Health Care · Dental Care A typical plan will include no less than four different insurance coverages and can include more than...
The Business Owner’s Strategy for their Benefit Renewal
Going beyond the rates. The renewal of employee group benefit plan offers an opportunity to re-evaluate and decide what you want from your benefit plan. Do you want to see how your pricing compares to other benefit providers? We do that … Compare what the market...
Compensation
Introduction to Prescription Drug Coverage in Canada
Drug coverage is the part of a benefit plan members use most and the part that costs employers most to run. It is also the part changing fastest. Since 2024 Canada has had a national pharmacare program operating in some provinces and not others, a category of weight...
Don’t Silo Your Benefits?
Considering the company benefit plan as a stand-alone, checked box, set it and leave it plan is like planning a road trip and not ensuring the tires are up to the journey. Yes, the tires are their own entity, but they are also a strategic part of the whole vehicle....
When we get to “why” are we forgetting the value of other questions?
I can pull a help wanted ad from just about anywhere geographically in Canada, doing any occupation and I am going to see the title “Benefits”. The salary is listed within a range and the benefits are normally listed in point form or use the terms like “competitive”...
Culture
You have the biggest stake in the renewal outcome:
1. Define your benefits strategy. · What do you want it to achieve? · Is it a checked box or a strategic tool? · Will you be adjusting the plan approach by reallocating resources, promoting wellness, or rebalancing plan design? · What do you...
Misalignment causes confusion
When it comes to employee group benefits, corporate policies, and high impact risk exposure like death, disability and catastrophic pharmaceutical, there is no room to “beg for forgiveness later” when enrolments and the claim process have been mishandled. Too many...
Benefits to reduce/prevent onsite/worksite injuries
What if we could stop the cycle of lost productivity time due to accident and injury through strategic preventative planning? We believe utilizing your benefit plan in a pro-active manner tied to productivity and safety results that we can. Consider the typical cycle...
Wellness
Is your corporate health benefit plan reactive or preventative?
Many employers don’t realize through effective flexible benefit education, they can encourage employees to utilize their plan in a more preventative, health way, rather than reactively, which will in turn, save them money on the premiums over the long run. The numbers...
It doesn’t matter until matters
Why do we write so much about non-evidence maximums (NEM) on employee group benefit plans? Because these heart-wrenching e-mails usually accompany a disability claim. “… is unable to return to work and his LTD is not sufficient, is there any way he can update his...
Employee Mental Health Programs
This is a guest blog post from Benefits by Design (BBD) Inc. We're on a mission to help working Canadians promote and protect their health. wealth, and happiness, by delivering benefits by design. Employee mental health has been a hot topic since before the pandemic,...