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...
If I were to break down, in the simplest of terms possible, the “why” people purchase insurance—any insurance—it would be to pay the claim IF a covered event/risk happens. Sure, the purpose of insurance is to mitigate risk: · Risk of loss of life · Risk of...
Daily, as a plan administrator, you juggle many tasks. Imagine, you’re right in the middle of a project, focused on the outcome. Then, a staff member knocks on the door with a question pertaining to the benefit plan. It’s an interesting question, but you don’t know...
Regardless of the plan, the favourable taxation is the leading advantage for implementing a flexible employee group benefit: · 100% corporate tax deduction · Non-taxable to employees at the time of claim However, for certain insurance lines, this requires...
Don’t be duped into thinking you can “spot” someone who will commit insurance fraud. The players are as vast and divergent as snowflakes on a winter’s day. In employee group benefits alone, the annual toll of theft is in the billions of dollars with 3-10% of claim...
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...
