Scotiabank’s recent Workplace Benefits Award gives advisors a glimpse of future trends and benefits that may increasingly become in demand, as well as insight on the results that these types of ...
For the past 21 years, Benecaid has been an innovator in the Canadian health benefits market. The company has evolved over time and has seen substantial growth over the past seven years through the ...
Benecaid is proud to announce that the Honeybee platform now supports budgeted Administrative Services Only (ASO) plans, making Honeybee compatible with all plan types. Budgeted ASO on Honeybee ...
Deductibles and co-insurance are two fundamental concepts in insurance. The Honeybee platform allows employees to personalize their benefits to fit their unique coverage needs, at no extra cost or ...
According to a recent study done by KPMG, a staggering 54% of Canadian small and medium-sized businesses admit that their current number one focus is survival.
If you are an advisor, you’re well aware that the group renewal process is one of the most crucial periods for you to demonstrate value and reinforce the relationship between you and your client. The ...
Every business owner wants to be able to control and predict costs. Benecaid hears this time and time again when speaking with advisors and small businesses about group insurance. Unfortunately, ...
Getting tired of the same old office holiday party year after year? If you feel that way, chances are, your employees probably feel the same. Perhaps it’s time to inject some spark into your holiday ...
Following our previous blog post Common Questions About Employee Benefits Small Businesses Ask, we will answer five more questions that we commonly receive from small and medium-sized businesses.
Group insurance, quite simply, is insurance coverage of multiple people (e.g. an organization’s employees) under a single contract. If you’re an employer looking at employee benefits for the first ...
For small business owners, navigating the world of employee benefits insurance for the first time can be a daunting task. After all, it’s not usually the first thing you’d think of when starting a ...
As the financial services industry has evolved, so have the ways in which benefits advisors communicate with their clients and connect with new business opportunities. But for many advisors today, ...
If you’re considering offering employee health benefits to your workforce, you’re in good company. Group health insurance plans help millions of Canadians every year pay for medical expenses not ...
Employee wellness is more than just a buzzword in company handbooks. Instead, it is a concept that has been developed and moulded to fit a company’s culture, structure and mantra, while putting a ...
Employee benefits are essential to attracting and retaining top talent, and they play a huge role in setting a company apart from its competitors. Knowing the latest employee benefits trends helps ...
The OHIP+ program, which has offered free prescription medication to all Ontarians under the age of 25 since January 1, 2018, will undergo changes this year courtesy of the current Conservative ...
Medical and health benefits are just as important to job candidates as salary. That’s why companies who are looking to grow should be strategic in using health benefits as a way to attract and retain ...
Since 2018, Honeybee has been helping advisors broaden the types of solutions they can bring to their clients with our digital benefits platform. Honeybee already provides some of the most flexible, ...
“Workplace culture” has emerged as a key buzzword amongst today’s workforce, driven in large part by millennial employees who expect more out of a job than just a steady paycheque and basic benefits ...
In recent years, Canadian employers have become much more attuned to the issue of mental health in the workplace. More education and awareness around mental health is being spread to end the stigma ...
Benecaid looks forward to continuing to help Advisors reach success in 2019 with simple and affordable health benefits plans for their SMB clients. Last year was an interesting year for employee ...
Since the inception of Benecaid, we’ve strived to fill a void in the small to medium-sized Canadian health benefits market. In 2018, our innovative and ground-breaking products and technology were ...
Digital employee benefits are not as far off from traditional benefits as you may think – at least not the kind Honeybee offers. You may have come across the perception from some of your clients that ...
When choosing a health benefits provider for your client’s group plan, it usually comes down to two things: price and reliability. As an advisor, you know that insurance and customer service cannot ...
Offering benefits can often times feel like quite the undertaking, especially for a small business with limited profit margins, but there are several steps you can take to ensure that your employees ...
There’s no time like the month of November to showcase your moustache and focus on giving back by becoming part of a good cause. Companies all over Canada are having “Mo” fun this November by ...
Did you know that Honeybee is great for companies of all sizes? Whether it’s a startup that is new to employee benefits or a larger company looking for a more modern plan, Honeybee has the solution ...
As the weather gets colder and the days shorter, one thing is certain, employees will get sick and being prepared is the best defense. The flu season officially arrives in Canada come November and ...
Within Canada, Ontario is among the top-spending provinces for drugs per-capita, according to the Canadian Institute for Health Information’s 2016 data. As a result, Ontario is making moves to ...
Providing added work perks and benefits is a win-win for both employees and employers. Offering your clients the right benefits plan can ensure the success of their business, as the overall ...
Forgoing the creation of a succession strategy can prevent you, a successful advisor, from earning financial and emotional rewards that you deserve after years of work. As a relationship-based ...
In the past few months, we’ve been introducing you to our new digital employee benefits platform, Honeybee. Unlike most digital group benefits companies, Honeybee values advisors. We don’t want to ...
The newest ESC Drug Trend Report has some interesting statistics and takeaways for Advisors and Group Plan Administrators. Being in the “know” helps you attract clients that will trust you to help ...
If your clients own a small business, an Administrative Services Only (ASO) health insurance plan can be just the thing to take their companies to the next level. These employee health benefits plans ...
Have you heard about the new trend in virtual health care? Technology is not only changing benefits but the health care system as well. To complement in-person care, there are now virtual health care ...
Any Canadian can tell you that Canada has some of the greatest healthcare in the world, but what if we told you that, when it comes to Prescription Drug Coverage, there are valuable options that you ...
By 2020, millennials will account for 50% of the global workforce. But at the same time, we have a multi-generational workforce. With that comes the need for a new way of offering employee benefits, ...
It’s no secret that the key to retaining employees, especially millennials and Generation Z’ers, is creating a strong workplace culture. That’s why employers have begun to offer employees more ...
Honeybee is the first Advisor supported digital benefits platform that makes it easy for you to configure flexible benefit plans online. But it is a lot more than that. Honeybee also provides access ...
Did you know that you can use a Health Spending Account (HSA) as a group plan? An HSA allows businesses to contribute pre-determined amounts to employees for their health care expenses. These ...
Health Spending Accounts (HSAs) provide an excellent alternative to traditional employee health benefits plans. They allow employees to determine for themselves how they spend their health care ...
No one wants or anticipates an unexpected illness or injury to occur while vacationing or travelling for work. However, planning for the unexpected is where planning works best.
With the approach of March Break, millions of Canadians will soon be packing for well-deserved getaways to other provinces and warmer climates. In fact, roughly 56% of Canadian vacationers will be ...
To find out more about how Honeybee can help your client’s unique situation contact one of our Honeybee experts at hello@honeybeebenefits.com, or click here to book a Honeybee demo.
To find out more about how Honeybee can help your client’s unique situation contact one of our Honeybee experts at hello@honeybeebenefits.com, or click here to book a Honeybee demo
To find out more about how Honeybee can help your client’s unique situation contact one of our Honeybee experts at hello@honeybeebenefits.com, or click here to book a Honeybee demo.
Recently, CLHIA released Guideline 19 to address the disclosure of compensation for the distribution of health benefit plans beginning in July 2018. Their stated purpose is to “get ahead of the ...
Canada’s Bell Let’s Talk Day is an initiative, sponsored by Bell that was started in 2010 to promote public awareness of mental health issues. The initiative also seeks to reduce the stigma ...
Employee and Family Assistance Programs (EFAPs) are launched for a variety of reasons, from serving as employee support, to assisting with attraction and retention of key talent. However, when it’s ...
Although it’s a new year, many business owners are still faced with the same challenges surrounding their benefits plans. The recently introduced minimum wage increase has added to the strain on ...
During renewal meetings, Advisors are often tasked with creative ways to cut benefits costs or to mitigate potential renewal price increases. The worst thing a client can do is to make changes ...
There has been a great deal of research into depression in general in recent years, and lately, much of the focus has been on how depression negatively affects employee productivity. The statistics ...
The holidays can be a difficult time for employee wellness. Many people feel that they have worked hard to maintain their health throughout the year, so they deserve to relax a little bit. Of course, ...
It is fairly straightforward and easy for Canadians to handle drug claims at the pharmacy. Simply hand over your prescription and almost immediately, you’re told how much you owe. But have you ever ...
The start of a New Year brings with it new beginnings and new possibilities. It’s also a time when many of us make resolutions to ensure the upcoming year is even better than the last one. We’ve put ...
Defined contribution health benefits plans are relatively new to the Canadian benefits market and are increasing in popularity as the workforce demographics shift. While defined benefit plans have ...
On January 1, the new OHIP+: Children and Youth Pharmacare program for will go into effect for all Ontario residents under the age of 25 who have an Ontario health card number and an eligible ...
As your children reach college and university age, it can be tough to know precisely when they’re considered “adults on their own” and when they’re still your dependents – under your benefits plan.
Employers want to offer their employees value when it comes to benefits. But let’s face it, there’s not always a lot of wiggle room when it comes to the payroll budget. Fortunately, there’s now a ...
Employers across Canada think they are doing their best to provide their employees with the rewards and benefits they want (and often expect). However, with shifting demographics, more millennials ...
For any company that offers benefits, their main goal is to take care of the happiness and health of their employees. But what can you do to reach that goal? How can you work to get more employees ...
Studies show that employees are consistently healthier and happier when the workplace is flexible. Options in work schedules, the ability to work from home, and even multiple beverage choices in a ...
In the group benefits industry, one of the newest trends in 2017 for businesses of all sizes is the increase in employee-directed benefits plans. These are different from typical, traditional ...
Physical health has always been considered paramount when it comes to a person’s overall wellness and quality of life, but mental health can be just as essential – something that is getting more ...
Having a wellness program at your company can contribute greatly to improving the overall morale and attitude of your employees. The best wellness programs promote both physical and mental health at ...
As discussed in our article back in February, Ontario’s Trillium Drug Program (TDP) aimed to make several beneficial changes to their program by September of 2017. These changes however have been ...
In today’s health benefits market, there is a notable shift from defined benefits towards defined contribution. This is not surprising given the massive shift in the pension sphere where the majority ...
Independent contractors often face problems when it comes to such useful benefits as life insurance, prescription drug coverage, dental benefits, and more. In fact, companies sometimes favour the ...
Offering group benefits is important to attract and retain the best talent. However, demographic trends in the workplace can make it hard to find a benefits package that works for all employees ...
Studies have shown that employees truly appreciate having group health and dental benefits. In fact group benefits are becoming much more expected. Employees are also looking for more flexibility in ...
What is the role of employers when it comes to their employees’ healthcare? It used to be easily definable, but as time goes on, baby boomers start to retire in droves, and millennials start to make ...
The benefits market is becoming more competitive. As regulations surrounding benefits change and more people are becoming aware that options exist, it is becoming more of a challenge to attract and ...
When you need to secure quality healthcare coverage options for your employees, you may be considering utilizing a Preferred Provider Network, or PPN but can they really save you money?
During the month of March, we ran an online survey where we asked our Advisors to let us know how we’re doing and how we can better serve you. We asked questions surrounding our service levels, what ...
As a business owner or human resources representative, you no doubt have many concerns when it comes to securing health benefits for your team. You may be looking for a new advisor because the ...
Canadians have made it clear that employee-provided group benefits are important to them. According to a 2008 survey, ninety-four percent of employees felt that their employer cared about them ...
When an individual is pursuing a potential job, they often wonder about is the availability of benefits. These can range from insurance, to paid time off, to opportunities for bonuses. While most ...
Today more than ever, employers are taking an active interest in the mental well-being of their employees. This effort towards wellness not only saves time and money, but can lead to a decrease in ...
Offering your staff the most competitive benefits package is a great goal. It will make you feel like you’re truly benefiting your employees. Plus, it is a great way to find some of the best talent ...
When it comes time to choose insurance benefits for yourself or for your company, the best course of action is to connect with a qualified insurance advisor. He or she has the experience required to ...
With the continued attention on mental health issues in the workplace, an Employee and Family Assistance Program (EFAP) is a great, low-cost, high-value addition to a client’s benefits plan. It’s ...
Gearing up for March Break, keep your clients informed by reminding them of these 3 important travel insurance tips to keep in mind should something happen when travelling.
Our voices were heard! On February 1st, 2017 Prime Minister Trudeau announced that the Federal government has no plans to implement a tax on employee health and dental plans. This is in part thanks ...
As an employer, the decisions you make will have an impact on you personally, on your employees, and on your business as a whole. While choosing great benefits will be a perk for your employees, you ...
Millions of Canadians travel each year, and hundreds of them require some type of medical assistance while they are away. While no one ever likes to think that they could end up as a statistic, when ...
If you’re like most people, you need to save money wherever you can. One of the best ways to do this is to figure out which expenses are tax deductible. Finding this out is just one step toward ...
Ontario’s Trillium Drug Program (TDP) is an annual government program for residents of the province that spend a disproportionately large portion of their income on prescriptions. The program can be ...
Administrative Services Only (ASO) plans, also known as self-funded health care, are arrangements where a company pays for employees’ eligible health and dental claims, up to chosen deductible level. ...
Although there is no legislation requiring employers to offer employee benefits, they can be a very effective component of your employees’ overall compensation package.
The most important thing to remember when creating an employee group benefits plan is that benefits are a long-term investment in your employees and your business. Your health benefits plan can ...
In May of last year, we released an article called “Using an HSA to Protect Against High Drug Costs,” discussing how one client used a Health Spending Account (HSA) to offset the introduction of a ...
The industry average increase of group benefit plans are expected to be at least 8% in the coming year, according to a recent prediction by Aon Hewitt. Therefore, a focus on cost containment ...
Employee Assistance Programs (EAPs) have grown in popularity over the past few years. These popular add-ons are used to help supplement current employee benefits, and they are often standard with an ...
A Health Spending Account (HSA) offers more coverage than employees might realize. While its primary function is to pay for medical expenses not covered by your Provincial plan, there are other ...
An employee opting out of coverage needn’t be a cause of worry because, in most cases, a benefits plan is too good to pass up and employees will prefer to have access to it if they can.
Our traditional Health Spending Account (HSA) allows employers to deposit funds for each employee on a predictable schedule: monthly, quarterly, semi-annually or annually. The company decides how ...
This credit-based Health Spending Account (HSA) allows employers to declare a pre-defined amount per employee and get billed only when claims are submitted. Billing is set up to be weekly, ...
In today’s professional world there is one sure way to attract quality job candidates and make them want to stay around once you’ve hired them as employees—a great package of benefits. The Employee ...
Employee benefits are a form of contractual compensation that goes hand in hand with a salary. That means that once the terms of your employment are agreed upon, including the benefits you will ...
Many entrepreneurs think traditional group health insurance is their only option to pay for medical expenses not covered by provincial plans, and are not aware of other option such as a Health ...
Many small businesses feel that they can’t afford to provide a traditional benefits plan for their employees due to the fear of steep renewals and new expensive treatments. Benecaid’s Budgeted ASO ...
Adding coinsurance to a group plan drives down the overall cost of the plan but the impact on employees is not always positive. Find out how to use a Health Spending Account (HSA) to offset the costs ...
More and more, we’re seeing HSAs being used as stand alone benefits plans for small groups or those new to benefits. Companies love the budget predictability of an HSA while employees love the ...
Not all employees are the same so why should their benefits plan be? Health Spending Accounts (HSAs) are a way to provide additional compensation for partners or key executives that is tax-effective. ...
If given the choice would employees take a larger salary or a benefits plan? Well, according to a 2011 study, 50% of people surveyed in Canada would rather have benefits than a $15,000 salary ...
Many small business owners don’t realize that not only can they afford to offer health insurance plans for their employees, but they can also benefit fiscally from doing so. Small business owners can ...
For small business owners and entrepreneurs, the idea of offering health insurance seems far off. Only big companies and corporations offer health insurance, right? The reality of the matter is that ...
Insurance terminology can be confusing for all of us – including our clients. To help you easily explain some of these terms, we’ve created a glossary of some of the most commonly used jargon and a ...
More and more people are changing jobs with frequency in order to advance their career. In a 2014 study, Workopolis found that 88 per cent of people have to change companies in order to obtain a ...
Today, small companies must be able to offer competitive incentives and benefits to those offered by corporations. Being able to provide group health insurance for employees can be an important ...
In the eyes of the average employee, health benefits are no longer a nice luxury or “job perk.” They’ve become a necessity consideration for workers when weighing employment options. This rising ...
The month of June means it is time for the results of the annual Sanofi Canada Healthcare Survey. I look forward to the results every year because they are 100% Canadian based.* And let’s face it, ...
As an Advisor, you’re always looking for ways to attract new clients – social media is an easy and free way to do just that. Join us on Wednesday, June 29th at 11am ET as we provide tips, tricks and ...
There are many unique challenges that today’s small business owners must tackle, and one is offering the same type of incentives and benefits to their employees that larger corporations do. This is ...
As almost everyone operating a small business knows (or will soon discover), small enterprises have many unique needs and challenges that require special consideration – issues that their larger ...
With a growing number of small businesses beginning to offer their employees benefits packages, the question is no longer one of whether or not to offer benefits to employees, but more along the ...
In general, virgin groups are drawn to fully insured solutions due to the “unknown” claiming patterns and usage of their group. Introducing our new FLIP feature, exclusively for groups without claims ...
Many clients have a hard time determining whether a budgeted ASO or a fully insured traditional plan is right for them. Below are some helpful tips to help you guide them towards making the decision ...
Advisors should be wary of using EP3 pooling as a key factor to recommend fully insured vs. budgeted Administrative Services Only (ASO) plans. Let’s take a deep dive into how the EP3 pooling works ...
A Health Spending Account (HSA) is one of the easiest products to sell. It’s a financial product that saves your clients money without having to pay mandatory premiums. 3 Step Selling Process: 1. ...
A routine plan review uncovered an unpleasant surprise for one of our largest clients. Their plan had been hit hard by a biologic therapy that was new to the market. This drove a tough conversation ...
For many companies, ASO remains that most attractive value proposition, yet the least understood. Working with our advisors, we’ve collected the top 5 objections to ASO plans and provided you with ...
With March break just around the corner, your clients will need more than just sunscreen to protect them while travelling. Should an unfortunate event occur, prepare your clients with the following ...
We are pleased to announce that we have recently launched our NEW flexStyle® Renewal Package – a comprehensive view of a plan’s financial health and a look at how employees are receiving value from ...
Benecaid’s flexible health care coverage plans go a long way towards creating a happy and loyal office atmosphere, but you can never do too much! Read on for 10 rapid-fire tips to help create a ...
Effective team-building is one of the most sought-after and frequently discussed factors in a group work environment, but many are unsure of how to approach their team-based improvement effort. ...
An appointment at the dentist’s office can be unnerving. And yet, one of the most common reasons people delay dental treatment is cost, not fear. This is especially true in Canada, where our regular ...
In a Statistics Canada study conducted in 2008, it was found that the average Canadian household spends over $2,000 each year on health care expenses including dental services, prescription drugs, ...
As a leading provider of small business employee health plans in Canada, the Benecaid team would like to share some proactive health tips to keep limber around the office this winter. It may have ...
We live in an era where fraud is more of a threat than ever. Remember the good old days when all you had to worry about was having a credit card stolen from you physically? Nowadays, internet users ...
If you are fortunate enough to enjoy a Benecaid Health Spending Account, there is a good chance you already know the basics of these benefits. After all, how are you supposed to brag to your friends ...
For many employers, health insurance for small businesses is the Holy Grail. Being able to reduce or eliminate a serious financial burden for your workers is a surefire way of attracting top talent, ...
Now more than ever, Canadian company owners in need of small business health benefits are starting to realize the value of Benecaid Health Spending Accounts (HSA). Compared to traditional models of ...
As one of Canada’s leading providers of small business health benefits, the Benecaid team knows a little something about workplace safety. Many of our small business medical claims come as a result ...
Did you know that for every 1 client lost, you’ll need to gain 5 new clients? Your annual renewal meeting is a great way to cement your current client relationship, but did you know that it can also ...
Impress your clients at your renewal meetings by being up to date on these two trends we are seeing in Employee Group Benefits for 2016. TREND #1: New High Cost Specialty Drugs The increased ...
Benecaid’s Renewal Rewards Advisor Contest Move a group to Benecaid and earn a cash bonus! Renewal increases can be frustrating. Benecaid’s flexStyle plans help protect clients from surprises with a ...
Since 2000, Benecaid has helped small business across Canada offer their employees competitive health benefit plans. Health benefit plans are essential for all parties involved; not only does this ...
In a recent post, we wrote about the introduction of the ESC Pharmacy. For us at Benecaid, we feel that the best way to support our clients with our products and services is for us to experience them ...
Although many employees do not realize it, they are partners in the success and viability of their health benefits plan. Over the years, we have figured out that our employees are just like any of ...
ASO is a fancy way of saying “Administrative Services Only” or self insured. That is where the Administrator of the plan is distinct from the insurance provider for the plan. Insurance companies will ...
