Anyone interested in ASO plans may want to check out accounts manager Karen Taylor Smith’s article, “The Basics of ASO,” which was recently published by Canada’s leading benefits magazine, Benefits Canada.
The article compares the fundamental differences between traditional group benefits plans and customized Administrative Services Only (ASO) plans managed by a Third Party Administrator. ASO plans are “an attractive option for small- to medium-sized businesses,” writes Smith, because “costs are based on actual paid claims experience rather than on anticipated claims.”
The article further highlights the flexibility of ASO plans, which can be customized to provide “core + options plans, healthcare spending accounts, and benefit levels graded by seniority.” ASO plans further offer “employers greater control over their benefits plan design, and consequently over the dollars that are paid out,” which is cause, says Smith, for their “growing in popularity in Canada.”
>> Click here to read the entire article. And to learn even more about ASO plans, see our free informative whitepaper entitled, “Why You Should Consider a Budgeted ASO Group Benefits Plan for Your Entrepreneurial Company.”