Cost Management Strategies for Canadian Group Benefit Plans May 12th

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Cost Management Strategies for Canadian Group Benefit Plans
The cost of providing comprehensive benefits continues to rise. Managing group benefits effectively is critical for employers in Canada. The need to find balance between offering appealing group insurance to employees and maintaining financial sustainability is not easy.
Here are some innovative cost management strategies that can help businesses navigate this challenge successfully. We are here to help navigate the current benefit landscape to customize solutions for each specific employee group.

Engage a Qualified Broker: Using the services of a group benefits broker will save you time and money. A good broker will have the tools and expertise to market your plan effectively, make recommendations on trends for optimum coverage at the best prices and have an objective perspective on what will work best based on needs. Most brokers do not charge fees for service, they are paid standard commissions by the insurance companies they represent.
Embrace a Flexible Benefits Model; A one-size-fits-all approach often leads to inefficiencies and wasted resources…

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