We pay close attention to the overhead expenses of managing and administering a group benefits plan. Employers typically pay an extra 10%-20% on every claim on Consulting, Administration and Claims Adjudication mark-ups. Plans should aim to minimize the mark-ups and ensure employee group benefits costs go toward the benefits payments, and little else. This will lead to saved costs in perpetuity and will ensure you are managing your plan as effective as possible.
Every consultant or broker in Canada can recommend plan design changes. Mandatory Generic, Lowering periodontic units...etc. Often there is good rationale to do so, they can allow for more effective benefits spend. But it does not have to be the first place you look to save costs. Our goal is to minimize your benefits overhead expenses to enable your firm to save in perpetuity.