DOES A PERFECT EMPLOYEE BENEFITS PLAN EXIST?

Does a perfect employee benefits plan exist?

Many small business owners are wondering whether it is possible to have an employee benefits plan that fits the needs of both employers (who need to carefully watch their bottom line) and employees (who need effective coverage).

While there is no one-size-fits-all benefits plan, the good news is that you can work with your broker on creating the “perfect” employee benefits plan to suit the unique needs of your employees and your business.

Let’s take a look at how to create a plan that makes you, and your accountant, happy:

1. Research creates new knowledge

Start by finding out what your employees need: just ask them! Then look into what your options are from benefit providers, and discuss your expectations and your budget. We offer many useful articles and resources available at GroupHEALTH to help you understand how employee benefits work, and what’s available to you and your employees. .

2. Good communication is the bridge between confusion and clarity

Define your goals and discuss them with your benefits provider. They are the experts in their field, can identify important ways to adjust and refine your coverage, and will help you find the right solution for your company and your employees. At GroupHEALTH, we specialize in providing a broad selection of coverages and services, with a particular emphasis on creating cost-sustainable health benefits plans.

3. The secret to getting ahead is getting started

Start slowly to avoid being overwhelmed by options. Starter plans should be straight-forward and easy to set up. GroupHEALTH offers the Smart Plan for Small Businesses which includes the most popular features for small businesses. Its purpose is to help small businesses without locking them in to one plan design.

To control rising healthcare costs you’ll need an employee benefits plan that controls your expense levels. This means implementing cost-containment strategies, without reducing coverage to employees. Your provider will help create the best possible employee benefits plan for you.

Read: Has Your Benefits Plan Been Optimized?
 

Level up the Game of Employee Benefits

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.