Employee Benefit Management Services
You can trust Benefit Strategies Inc. to properly and effectively manage your employee benefits and health plans backed by nearly three decades of service in the employee benefits Industry.
Essentially our employee benefits services can be divided into three main categories:
When it comes to administering employee benefit plans, accuracy is critical. Administrators of our employee benefit management services will take care of all the paperwork involved to implement employee benefit plan documentation and participant account maintenance. Your benefits manager will take care of every detail of the initial implementation including setting up training and communication of the benefits plan.
A major contributing factor to the success of any employee benefit plan is how well it is communicated to employees. Our team assists with the communication process to help your employees understand the real value of their benefits plan, as well as all of the services that are available to them. Our consultants can meet with your staff to provide presentations of the new benefits plan or changes to existing benefits plans, as well as answer any questions they may have, reducing the strain on your Human Resource department.
Ongoing Claims and Cost Containment
It is crucial to analyze employee claims to make sure employee benefits are not being under-utilized or over-utilized. Based on statistical analysis both within your workplace and in your industry, your benefits manager will develop cost containment strategies to maximize your dollar’s effectiveness and to ensure your employees are well provided for.
Tax Advantages of Group Benefits Plans
It often pays to offer your employees benefit incentives rather than monetary incentives. Also, some Alberta business owners and employers neglect to evaluate the full tax benefits of an employee group benefits plan, which can earn you significant savings.
Our employee group benefits providers can perform cost analysis from an accounting perspective to determine the ideal ratio of wage to benefits in your labour expenses.
Health and dental packages and customized freedom of tax-free spending account allow for choice for vision care, massage therapy, and cosmetic dentistry.
The benefit to employees is that funds paid out from a group critical illness insurance policy are non-taxable and the funds are paid out immediately to assist the policyholders with funeral expenses and other incurred debt.
Our group benefits plans are designed for medium-sized businesses with 10 or more employees.