
For Businesses
An effective benefits strategy gives employers a significant competitive edge. Yet too many companies are not supported with the crucial first step: having a benefits advisor knowledgeable in group benefits for their business. Planning benefits involves specialized knowledge and an approach to meet your overall company growth strategy, budgets, and HR strategy. If you are hiring an advisor only to shop your plan, you aren’t maximizing the broad spectrum of results that a tailored benefits program delivers to employers.


Achieve Employee Attraction, Retention, and Maintenance
Strategic Benefits Planning
In group benefits, the mantra is to “Attract, Maintain, and Retain employees.” However, the real challenge lies in understanding how to achieve this effectively. Many approach it with a straightforward solution: “Employees desire benefits, and having a group benefit program makes an employer more appealing.” But how does a group benefit program genuinely achieve the goals of attraction, retention, and maintenance?
The key lies in applying the right benefits that resonate with your employees. Offering too little coverage may result in employees feeling unsupported, while an excessive amount might be perceived as overpriced. Achieving the delicate balance requires thoughtful planning by a group-focused insurance advisor.
The crucial aspects of benefit planning are provided by an advisor. Your advisor will look to understand what resonates with your business values and target employees. When your benefits program aligns with employees’ needs, it becomes not just a checkbox but a competitive advantage when vying for top talent.
Prospective employees actively inquire about benefit programs offered by employers, viewing it as a significant consideration in their decision-making process. Many are hesitant to forfeit existing benefits for a new employer, underscoring the impact of a robust benefits package.
Retention comes into play when there’s a sense of loss associated with leaving your employment, particularly the loss of your group benefit program. If an employee were to transition to a new employer and their benefit program falls short in providing the same level of support, it becomes an additional factor for employees to consider before making a move.
Maintaining employees is where employee benefit plans act as a bridge, filling gaps in provincial insurance coverage. This ensures your team has seamless access to essential healthcare coverage, promoting overall health and productivity. Your employees and their dependents gain the financial support needed for services and treatments that might otherwise be challenging.
To achieve these strategic goals, companies need a capable advisor who will take the time to plan the benefits meticulously. A seasoned advisor understands that the right benefits program isn’t a one-size-fits-all solution but a tailored strategy that reflects the unique needs and aspirations of your workforce.
Tailored Coverage to Meet Every Employee’s Needs
Customizing Group Benefits for Diverse Workforces
Group benefit plans are designed to be flexible, allowing employers to customize benefits to meet the diverse needs of their workforce. One key aspect of this flexibility is the ability to design benefits that cater to different groups of employees within the organization.
This means that a benefit program can be tailored to offer different sets of products or coverage levels for various groups of employees. For example, benefits for managers may include additional benefits or higher coverage limits compared to benefits for regular employees. As long as there is a definable difference between these groups of employees within the organization, employers have the flexibility to customize benefits accordingly.
Tailoring benefits for different groups of employees ensures that each segment of the workforce receives the most relevant and valuable coverage for their specific needs. It also allows employers to effectively allocate resources and maximize the impact of their benefit offerings.
By leveraging the flexibility inherent in group benefit plans, employers can create a benefits program that not only meets the diverse requirements of their workforce but also aligns with their organizational objectives and values.


Customizable Benefits for Employee Choice
Flexwell— Benefits with Tailored Options
The Flexwell program is often used as a template for designing employee group benefits. Employers set up a budgeted benefits plan, allocating a specified employer contribution in dollars to each employee. This contribution can be used to support the employee’s selection from three health and wellness options. Additionally, employees have the choice of a tax-deferred savings plan for any unused employer contributions.
Employer contributions follow specific premium taxation rules, maintaining employer deductions and minimizing the tax impact on employees. This approach is advantageous for both employers and employees. Moreover, the explicit allocation of employer contributions to specific products, rather than a generic percentage for all products, simplifies plan management.

We’re Insurance Experts
How ABC Insurance can Help
Our team is here to help you navigate your group insurance needs, offering direct assistance every step of the way. We carefully select advisors who are passionate about the group insurance industry and provide them with the training and resources they need to excel. By supporting our advisors and collaborating closely with carriers, we ensure that our clients receive the highest level of service and support.
Plan Your Benefits
Collaborative Advisors, Customized Benefits
Group benefit planning involves a deep understanding of your business. Advisors tailor recommendations to fit your organization’s structure, goals, and unique needs, presenting a benefit plan that best meets your requirements.
They provide a range of carefully curated product options, explaining subtle differences to help you make informed decisions. This collaborative approach ensures your benefit program is comprehensive and aligned with your organization’s objectives.
By understanding the nuances of each option, you can confidently select products that best support your business and employees. Advisors guide you through the process, offering expertise and support at every step, empowering you to make decisions that positively impact your organization’s well-being.
Choosing the Right Plan
Selecting the right benefit plan is paramount for both employer and employee satisfaction. Understanding the nuances between Health Spending Accounts (HSA) and insured benefits, as well as the distinctions between Claims Rating and Pooled Benefits, is crucial. While HSAs offer flexibility and control, insured benefits provide comprehensive coverage. Similarly, Claims Rating allows for tailored pricing based on individual claims history with the risk of runaway claims, whereas Pooled Benefits spread risk across a larger group to create stability. Ultimately, these factors affect the foundation when designing a benefit program that resonates with employees ensures engagement and satisfaction, fostering a healthier and more productive workforce and is stable over the long term.
Not sure yet? Let us help.

Benefit programs are planned in 5 steps.
Group Benefit Program Planning Process
Understanding Your Business Needs
Every business is unique, shaped by factors such as industry, demographics, team composition, and overarching goals. In order to create a benefits program that aligns with your specific business needs, it is essential for an advisor to take the times to have a understanding of your organization.
By gaining insight into the intricacies of your business, an advisor can effectively tailor and plan a group benefits program that is suited to your company’s unique circumstances. This includes considerations such as industry norms, the demographics of your workforce, and the long-term goals of your organization.
With a understanding of your business, an advisor can identify the most relevant and beneficial coverage options, ensuring that your group benefits program not only meets your current needs but also aligns with your future aspirations.
Choosing your Plan Structure Claims rated or Pooled Benefits
Insurance policies typically operate on a term basis, with rates set for a specific period. At the end of this term, rates are reviewed to ensure the stability of the insurance plan in order to continue paying claims into the future. This process is commonly known as a renewal.
However, what many may not be aware of is that in group benefits, there are different methods of calculating these renewals. Two main approaches are commonly utilized: claims-rated and pooled benefit methods.
The claims-rated approach involves setting renewal rates based on the actual claims experience of the group. This means that rates may fluctuate significantly based on the group’s specific claims history. In contrast, the pooled benefit approach involves spreading the risk across the entire pool of insured members.
Choosing between these methods can have major implications for your group benefits plan. While the claims-rated approach offers potential cost savings for groups with favorable claims experience, it also exposes them to the risk of much higher premiums in the event of increased claims. On the other hand, the pooled benefit approach provides stability and predictability in rates, as the risk is spread across a larger pool of insured members.
It’s essential for businesses to carefully consider their options and select the renewal method that best aligns with their risk tolerance, financial objectives, and overall business needs.
Choosing your Program Cost Structures
When budgeting for a group benefit program, it’s important to recognize that these plans are typically designed to be a shared expense between employers and employees. This shared responsibility is often structured based on a percentage split, commonly 50-50.
However, cost sharing can also be achieved through alternative methods, such as a defined dollar amount for each employee, such as $200 per employee, or by selecting specific benefit products where the employer only covers certain benefits, such as health and dental.
When setting a budget for your group benefit program, the focus should be on understanding and delineating the costs for the business and the costs for the employees separately. This means setting the business budget to cover the business’s portion of the expenses, rather than viewing it as an overall shared cost.
Choosing between these methods can have significant implications for your group benefits plan. While the claims-rated approach offers potential cost savings for groups with favorable claims experience, it also exposes them to the risk of higher premiums in the event of increased claims. On the other hand, the pooled benefit approach provides stability and predictability in rates, as the risk is spread across a larger pool of insured members.
It’s essential for businesses to carefully consider their options and select the renewal method that best aligns with their risk tolerance, financial objectives, and overall business needs.
Designing a Benefit Plan Aligned to Your Business
Your advisor will consider your perspective, including renewal calculations, budget, and the makeup of your team as provided by you. Drawing upon their expertise and understanding of the industry, they will craft a tailored benefit plan that aligns with your organization’s unique needs and goals, as well as your long-term strategic objectives. This will result in the development of a benefits plan and program specifically tailored to your business.
Review Your Tailored Benefit Proposals
Once your advisor has compiled all the necessary information, they will present you with a comprehensive benefit plan proposal. This proposal will encompass insurance products specifically chosen based on your requirements and those commonly provided by businesses similar to yours. Your advisor will meticulously select these products to ensure they effectively address your unique needs, while also adhering to industry standards and best practices.
Your advisor may provide more than one proposal, as there could be similar products or providers that fit your business’s needs. They will outline these subtle differences, although the list will be short as the advisor has filtered the options to only those that best suit your business.
During the presentation, your advisor will provide a clear explanation of each product included in the benefits program. They will outline the purpose of each product and how it benefits both the organization and its employees. Additionally, your advisor will highlight any limitations associated with the products, such as annual limits or formularies, to ensure transparency.
By understanding the specifics of each product and its impact on employees, you can make informed decisions about the benefits program for your organization. Your advisor will be available to address any questions or concerns you may have and will work closely with you to refine the product offering until it fully aligns with your needs and objectives.