In the quest to boost employee satisfaction and retention, businesses often resort to traditional methods like salary raises or bonuses. Handing out more money may seem like the obvious choice. However, there's a compelling alternative —Health Spending Accounts (HSAs). HSAs, offering an account for employees' healthcare expenses,
Figuring out group benefits can feel like navigating a labyrinth where you aren’t sure what’s myth and what’s fact. Confusing jargon like “target loss ratio” and “pooling costs” only make it harder. Let's shed light on the puzzling world of group benefits. Debunking myths and
The Benefits Canada Healthcare Survey was released a few weeks ago and you know what that means! We have another reason to talk about trends in the Group Benefits Industry! In this blog, we will be going over findings that we found interesting, informative, and important. How the outlook of
Inflation, wage increases, an economic slowdown, and evolving labour market dynamics are all topics that have been making headlines recently, and their impact is felt across various sectors of the economy. Small businesses in particular are facing mounting challenges as they grapple with the repercussions. If your small business was
Artificial Intelligence (AI) has made a lot of buzz in recent months with the introduction of models like the seemingly all-knowing ChatGPT. We couldn’t help but be curious (and frankly terrified) about what it can do. Like, come on, for all we know our jobs might be at
What’s the right amount for HSA contributions? You’ve decided to set up a Health Spending Account (HSA) for your team. Congrats! HSAs are amazing. They give employers (like you) benefits with total transparency and cost control. At the same time, they give plan members (like your team) the
The minimum HSA Select contribution of $3,000/year can be daunting to some folks. "What if I don't use it all?" they ask us. That's a big expense for my business each year. The good news? You don't have to make
Medical expenses pop up for all of us. Whether it’s prescription drugs, dental work, or regular massages, we all take care of our health. There are three different ways you can pay for these expenses if you’re an individual with an incorporated business: * A Health Spending Account (like
Although for decades Group Benefits have been an essential part of compensation for Canadians, not many know their history. It’s about time we told the whirlwind tale of Group Benefits, from its humble beginnings and exciting revelations the digital era brought us, all the way to how the workforce
Are you wondering what your Group Benefits costs will be for the upcoming year? If so, you're not alone. We get this question all the time. Many Plan Sponsors with premium-based plans are concerned about the unpredictability of their costs. In this blog post, we’ll explore
“What happens when someone gets really sick?” It’s the number one question we get once we start talking about how Health Spending Accounts (HSAs) can take care of life’s expected medical expenses. We’re the first to admit, HSAs are not designed to cover the high costs that
When it comes to group benefits, we're all looking for ways to save money and control costs without sacrificing our team’s coverage. However, these shortcuts tend to provide a Band-Aid solution that damages the plan’s integrity. The concept of "skin in the game"