At least half of Canadian businesses worry about their employees level of insurance coverage, but approximately one third of Canadian small businesses are not clear on all of the features or implications of an employee benefit plan. Even though the majority of Canadian health benefits are administered through the publicly funded system, there is still the freedom to guarantee small businesses stable premiums and potentially better benefits rather than locking into more restrictive benefits plans.

Using a Smart Plan design you can separate the employee health premium from their life and disability insurance premiums to get more attractive group health insurance rates. By analyzing the current health benefit premium rates and level of coverage, and then subtracting the new administration cost you can determine which level of high deductible plan to fund. From there, you can disperse the remaining funds to credit each employees tax free health benefit account.

There is the choice to simplify the components of your employee coverage, and you can easily navigate the various employee benefits plans with the assistance of a benefits consulting service. By deferring to consultants, they can assist you in making decisions that will positively impact your employees. Also, by seeking assistance to lock in affordable group health insurance rates, you are less likely to miss opportunities for savings and efficiency.

To baseline your current employees benefits plan, it helps to fully document the past performance, their flexibility and their reputation. Setting up employee benefits services definitely requires specialized training and appropriate experience before rolling out to an entire organization. You can begin your research with online reviews. Also, be sure to check with your industry associations and colleagues to see if they have used a comparable service for setting up employee benefits solutions.

In analyzing which employee benefits consultants to use, you should use feedback and comments from their current and former clients. By using third party sources to understand what advantages each consultant has, you are better prepared to select the right path forward, and ultimately the best benefits plan. Get more on this here: www.cehbp.com