AS WE KNOW, benefits are a significant component of an employee’s compensation package, focusing on the usage value—the “benefits”—rather than premium, adding to the culture of any organization. However, have you considered how an employee group benefits plan ADDs to...
Taking a chance may cost you more than premiums. It’s a problem of communication. Too many times employees fail to disclose relevant information relating to their employee benefit coverage, sometimes with the misconception of saving premium, or considering the...
Why should anyone care? Nothing seems to get a glazed look faster than a discussion on tax. Sure, if we want to complain about paying tax, or looking at the GST, we’ve plenty to say, but try simply to have a discussion on tax planning and see what happens. Feeling...
The “Ace” in your benefit plan Did you ever play the card game “Pass the Ace” as a child? You get one card and three chances to NOT be left with the Ace at the end of the hand. Those who get the ace too often are bumped from the game until only one remains. It’s not a...
Benefit Plan Audits Employee benefit plans, like other business cogs, can be taken advantage of via fraud or other forms of mismanagement. A benefits plan audit can help employers minimize this risk and ensure the plan is on track to remain sustainable. Some...
Reviewing the numbers When evaluating claims usage on a benefit package, has your consultant ever measured the difference between what has been submitted, compared to what was actually eligible under the terms of the benefit coverage contract, and then to finally what...
