As one of Canada’s largest independent providers of employee benefits, we’ve heard too often that Canadian business leaders come to us because they’ve been burned by their own benefits plan.
They were promised something that convinced them to go through the cost and hassle of switching benefits providers a few years ago, only to find that the grass wasn’t greener on the other side.
It doesn’t have to be that way. Here are three ways that businesses may have been burned by their own benefits plan, and what they can do about it:
Lower cost plans – that end up costing you more.
We call this the benefits merry-go-round: deep discounts in the first year (“we’re saving money on our new plan!”) and then big increases at renewal time (“we’re paying more now than ever before!”).
Solution: Pricing shouldn’t depend on an insurer’s revenue targets; it should be based on a fair reflection of real costs and services. Set your plan up correctly, with cost containment features that limit your increases and options to adjust coverage (and premiums), whenever you want.
“Flexible” plans – that turn out to not be flexible.
It’s amazing how quickly “sure, we can do that!” at sales time turns into “sorry, our systems (or processes, or rules) don’t allow that”; when you want to do something different.
Solution: Using an employee benefits specialist like GroupHEALTH – that works with insurance companies but isn’t one itself – means you’re working with a client-first benefits provider, not a mega-insurer. We pride ourselves on building plans that fit businesses – not the other way around.
A “different” experience – that ends up the same, or worse.
This is by far the most common complaint we hear: “the last firm said they would be different” and… they weren’t. Different isn’t good enough anyway – it needs to be better.
Solution: Look beyond the traditional broker / insurer model, to something better. At GroupHEALTH, employee benefits are our specialty: it’s all we do, and we do it by focusing on what businesses need, not what insurers want. From hyper-efficient tech tools to hands on support, we’ll provide a next generation benefits experience to you and your employees.