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, personalized benefits on the Canadian market. Now Honeybee is getting even more powerful, with the release of Honeybee Offers!
Honeybee Offers are great deals and exclusive discounts that have been carefully curated to match and enhance the benefits plans companies are providing their employees. These offers will soon be made available through the user-friendly Honeybee mobile app, where plan members can already submit benefits claims, manage their accounts, and access their benefits card.
Need a quick refresher on Honeybee?
Honeybee is the only digital benefits platform built with advisors in mind. We make it easy for you to configure flexible benefit plans for your clients or prospects online.
The Health Account is a versatile account where the employer deposits tax-free funds on behalf of their employees. These funds are then used by employees for tax-free benefits (a combination of medical and dental plans approved by the advisor, with the remaining funding available to allocate to other healthcare expenses like vision and paramedical). A detailed list of eligible expenses can be viewed here.
The Allowance Account is for taxable benefits, most often used by HR departments and business owners to promote company culture and increase employee satisfaction with “perks” or lifestyle benefits. Employers choose which allowance categories they want to provide their employees. Popular examples include a fitness allowance that covers part of a gym membership, or a transportation allowance that helps employees subsidize the cost of commuting.
How Honeybee Offers work
Honeybee Offers are another way you can provide extra value to your clients – and another way for them to provide extra value to their employees. Plan members can browse available offers within their Honeybee app. If they find an offer they like, they can take advantage of the deal by using the flexible benefit dollars available in their Allowance Account or Health Account.
Often the best explanation is in the form of an example, so here are two of the exciting offers we’ll be launching with this month.
20% off Glasses or Contact Lenses at Clearly.ca
Companies with Honeybee benefits will soon be able to offer their employees access to 20% off glasses or contact lenses at Clearly.ca. This purchase will be eligible to be reimbursed with available Health Account dollars.
Up to $15 off a ClassPass Membership
For companies that provide a Fitness Allowance through Honeybee, their employees will be able to access related fitness deals, like discounts for membership with ClassPass that are eligible for reimbursement with available Allowance Account dollars allocated to the fitness category.
Why advisors should get excited
The introduction of Honeybee Offers strengthens and broadens the types of flexible benefits that are available for advisors to provide to their clients, allowing you to differentiate yourself from other advisors, and keep your clients and their employees happy.
Clients rely on advisors for expertise when they purchase group benefits. As the definition of benefits continues to evolve, this is one more area where advisors can play a valuable role in educating their clients on what’s available to them. The more value and knowledge you can share with your clients, the stronger your client relationships.
How to give your clients access to Honeybee Offers
If you have a client who is already set up with Honeybee benefits, your work is done! We’ll soon be making Offers available to all Honeybee members.
Do you have clients who are not yet using Honeybee? For more information on selling Honeybee and getting clients excited to begin taking advantage of these great Offers, contact your Benecaid Executive Benefits consultant or send an email to advisors@honeybeebenefits.com.
