Avoiding “Too Bad, So Sad”: Future-Proofing Your Employee Benefits Plan

Canadian business leaders have learned that economic and social circumstances can change so quickly, and unpredictably, that the value of flexibility and cost-certainty can hardly be measured. You need to be able to make the right choices for your organization, at the right time, for all parts of your business.

When challenges or opportunities arise, your employee benefits plan needs to respond to the challenge. Here are three ways to ensure that your employee benefits plan works for you now, and in the future.

Build to suit now… and later

You should be able to tailor your employee benefit plan coverages and services for your people. When your people or their circumstances change, your coverages and services should be able to change with them. Sometimes external circumstances will require you to change your approach; other times it’s because your business is growing and evolving.

This is one reason GroupHEALTH avoids off-the-shelf solutions: instead, our benefits platform is designed for configuration, to give our clients maximum flexibility to respond to new needs, and new circumstances, whenever and however they arise.

Control costs now… to avoid surprises later

There are certain parts of most employee benefits plans – prescription drugs, paramedical expenses, disability claims – that can have a disproportionate impact on your plan’s costs. But increases in these areas aren’t inevitable, and there are solutions that don’t involve cutting coverage! A good plan can contain these costs, making them more predictable and allowing organizations to control cashflow.

GroupHEALTH specializes in these “cost containment” solutions. By focusing on root causes, employers can avoid unexpected increases at renewal that go far beyond the rate of inflation. Plus, when circumstances change, the employee benefits plan remains predictable and affordable.

Use coverage now… and benefit later

Your employee benefits plan is there to provide your employees with the support they need when they experience a health event. But your employee benefits plan can do something even more powerful: it can help prevent health events! By giving employees access to preventative health services now, they can avoid physical, mental and financial challenges later.

That’s why embedded into GroupHEALTH employee benefit plans are services like access to virtual healthcare, mental health support and personalized physical fitness programs. Healthier employees, and employees that have access to preventative healthcare, will have less health problems. And this benefits not just your employees and their families, but your business as well.

Read: Who makes your benefits decisions: your broker or your accountant?

Minimize the Risk to Satisfy Your Needs

We’ve experienced the challenges of building a business ourselves, so we took what we learned and built GroupHEALTH by listening to Canadian business owners and their challenges with employee benefits. Click the button below to request a no obligation 15 minute conversation with GroupHEALTH today.

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