by Karen Taylor Smith | Jan 14, 2015 | Benefits Costs, Employee Benefits, Healthcare Spending Accounts
Some employers believe they can save money on administration by self-managing their healthcare spending account (HCSA) benefits plan. However, it’s important to know that self-administration often results in high costs, lost time, and other drawbacks. Before you...
by Mike Ignatz | Nov 19, 2014 | Benefits Costs, Custom Plan Design, Employee Benefits
In the Fall 2014 edition of Canadian Treasurer Magazine, The Benefits Trust’s Robert Crowder (President) and Karen Taylor Smith (Senior Manager, Group Benefits) were interviewed, along with six of the other top benefits consultants in Canada, to comment on the topic...
by Robert J. Crowder CLU, GBA | Sep 18, 2014 | Benefits Costs, Coordination of Benefits, Custom Plan Design, Employee Benefits, Executive Benefits
That’s right: most off-the-shelf benefits plans on the market discriminate against executives. It’s simple when you think about it. Let’s say everyone in your company has the same, standard benefits plan. When you hire a new employee in an entry-level position and...
by Karen Taylor Smith | Jul 18, 2014 | Benefits Costs, Benefits Taxation, Employee Benefits
Which taxes apply to ASO group benefits plans in Ontario? Premium Tax = 2.0% Provincial Insurance Tax = 8.0% HST = 13.0% Premium Tax on ASO Benefits Plans Premium tax is determined for each employee based on that employee’s province of residence. Premium tax on...
by Karen Taylor Smith | Jun 18, 2014 | Benefits Costs, Custom Plan Design, Employee Benefits
The right compensation can be the key to retaining your best employees and attracting talented newcomers. Small business owners can maximize the value of their compensation with smart spending on employee benefits. A recent article from MarketWatch, a Wall Street...
by Mike Ignatz | Dec 9, 2013 | Benefits Costs, Employee Benefits
A benefits plan is a promise between an employer and employee. You can design your promise to include cost controls, but the most common tactics rely on small changes within the structure of the plan. Reducing per-person or family maximums, increasing drug plan...
