Group Insurance
Pulling your benefits program out of the stone age
Navigating the Changing Landscape
Faced with year-after-year increases, employers need to take action to protect the viability of their benefit plans.
Prescription drug costs are the top area of cost exposure for employers offering group insurance plans today. Health plan costs continue to increase at rates that exceed CPI, on average 8-10%, driven in large part by high cost specialty drugs.
Disability claims rank second in respect to costs, mainly as a result of increasing mental health issues. Absences due to injury or sickness not only cost the plan but lead to disruption of workflow and additional internal costs.
All too often, employers make budgetary changes to their plans that simply transfer costs to their employees. However, in order to maintain competitive costs over time, changes must incentivize and drive behaviour. Employees need to become informed consumers and masters of their own health.
What We Do
We design group insurance plans that meet the needs of an increasingly diverse workforce while respecting your business’ financial goals.
- Plan design (traditional, modular, flex and defined contribution plans)
- Request for proposals from insurers
- Renewal analysis and negotiations
We hedge against large renewal increases by designing plans that address the claiming patterns inherent in your group and drive responsible claiming behaviour.
Types of Group Insurance Benefits
Protection your employees and their family can depend on
- Employee Life Insurance
- Dependent Life Insurance
- Accidental Death and Dismemberment
- Short Term Disability
- Long Term Disability
- Accident Insurance
- Critical Illness
- Prescription Drugs
- Paramedical Specialists
- Medical Equipment and Supplies
- Diagnostic and Laboratory Tests
- Out-of-Country Medical Emergency
- Hospitalization
- Vision
- Preventative
- Routine Treatment
- Major Restorative
- Orthodontia