Category Archives: Flexible Benefits
Canadian Businesses Turning to Flexible Benefits Plans
While Canada continues to experience a growing multigenerational workforce, employers are currently trying to figure out how to not only encourage cohesion and collaboration among the generations, but also how to care for all of them. The needs and concerns of one generation do not necessarily overlap those of the (…) [Read Full Article]
Common Benefits Advisor Problems: Adding Value, Part One
As a benefits broker, you know you need to consistently add value for your clients. And value means a lot more than just saving money—it’s about being a trusted advisor who educates and helps business owners make the best decisions for their unique situation. In this blog series, we will (…) [Read Full Article]
Posted in Coordination of Benefits, Flexible Benefits
OHIP+: New Benefits for Children & Youth Coming Jan 1, 2018
Starting January 1st, 2018, the Government of Ontario will offer expanded drug benefits for children and youth. Under the new OHIP+: Children and Youth Pharmacare program, Ontario Drug Benefit (ODB) drugs will be fully covered, regardless of family income or student status. In anticipation of these changes, we’ve compiled a (…) [Read Full Article]
Posted in Coordination of Benefits, Employee Benefits, Flexible Benefits, News
SelectFlex Benefits for Small Groups of 3 or More Employees
Our SelectFlex Benefits plan for small businesses has been very popular for groups of three or more. We have also found that groups of less than three are best served by an Executive Benefits Plan and/or Healthcare Spending Account Plus plan (HSAP) (read more in our previous blog, “Can a (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, News, SelectFlex
What Is a Healthcare Spending Account? [Video]
A healthcare spending account (HCSA) is a benefits solution that can be used either as a complement to a core health and dental plan, or as a standalone option. What Is It? Essentially, an HCSA is a pool of money available to employees and their families, which an employer funds (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:employee benefits, HCSA
Do You Know These Details about Healthcare Spending Accounts?
Are you considering a healthcare spending account (HCSA) for your business? Or maybe you already have one but you’re not sure about some of the finer details? Several key details of HCSAs are often overlooked – but knowing the ins and outs of an HCSA will help you (and your (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:employee benefits, HCSA
Stay Ahead of the Hiring Curve with Next Generation Benefits Plans
At The Benefits Trust, we have long been proponents of the need for customized benefits plans. Benefits plans should allow you to create groups within your group, and should be tailored to support your business goals and align with your organization’s compensation philosophy. An excellent recent article in Benefits Canada, (…) [Read Full Article]
Posted in Custom Plan Design, Employee Benefits, Flexible Benefits
Tags:benefits plans, employee benefits, Personalized benefits plans
The 3 Types of Healthcare Spending Account
A healthcare spending account (HCSA or HSA) is a practical and effective benefits plan option that can serve as an alternative to, or an addition to, a conventional group health and dental plan. A plan design that includes HCSAs allows the employer to set a fixed budget for available benefits, (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:benefits plan, employee benefits, healthcare spending account
Seasonal Employees: Yes You Can Give Them Benefits
Many businesses are wholly dependent on the season – golf courses, ski resorts, hotels, and so on. These places are extremely busy during certain times of the year, but nearly empty during the off-season. They need to hire a large number of full-time, seasonal employees for their busy time of (…) [Read Full Article]
Posted in Custom Plan Design, Employee Benefits, Flexible Benefits
Flexible Benefits: Hybrid Plan Design
Hybrid benefits plans are catching the interest of advisors and employers alike. After hosting four sold out seminar sessions about hybrid plan design, we can testify that these plans are gaining momentum as a viable alternative to both traditional benefits plans and Healthcare Spending Accounts (HCSAs). What are Hybrid Plans? (…) [Read Full Article]
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Posted in Benefits Costs, Employee Benefits, Executive Benefits, Flexible Benefits