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EMPLOYER FAQs
GROUP BENEFITS
Group Benefits are health and insurance benefits offered to eligible employees through a workplace plan as part of their overall compensation package. They are designed to help employees and their families manage health-care expenses, protect against certain financial risks, and support overall health and well-being. The employer determines the eligibility requirements, benefits offered, and level of coverage. Plans can be structured to reflect the needs of the organization and its workforce and typically evolve over time as those needs change.
Group Benefits allow employers to leverage the purchasing power of a larger group, often making coverage more cost-effective and accessible than employees could obtain individually. A well-designed Group Benefits plan is an important component of total compensation. It can help differentiate the organization from competitors, strengthen the overall employee value proposition, and support the attraction and retention of employees. Group Benefits can also offer tax advantages for certain benefits while helping support employee health, well-being and financial protection.
The cost of Group Benefits can vary significantly depending on factors such as the benefits and level of coverage selected, employee demographics, group size, industry, employee salaries, and the overall design of the plan. As a general benchmark, Group Benefits can range from approximately 5-30% of gross payroll, depending on the plan design and level of coverage: Extended Health Care & Dental Care: 3-20%Life, AD&D, Critical Illness & Disability: 1-5%EFAP, Virtual Care, Medical Second Opinion: 1-5% The employer does not necessarily pay the full cost of these premiums. Most Group Benefits plans use a cost-sharing structure, where the employer and employees each pay a portion of the premiums. Many insurers require employers to contribute a minimum percentage toward certain benefits, commonly at least 50% of Extended Health Care and Dental premiums. A benefits consultant can also recommend how premiums for other benefits should be allocated between the employer and employees based on the plan structure, objectives and tax considerations. Group Benefits rates are typically renewed annually. Depending on the plan design, some benefits may be experience-rated based on the group’s claims history, while others may be pooled and priced based on broader insurer experience. Consultant Compensation: Our compensation is paid by the insurer and calculated as a percentage of the premiums paid under the plan. The compensation arrangement is reviewed annually as each client’s organization and plan evolve and is disclosed transparently to the employer.
It depends on the workforce, budget, and objectives - there is no one-size-fits-all approach. The best fit depends on how an employer wants benefits to support its people strategy, the role benefits play within total compensation, and how the program may need to evolve as the organization changes. The decision often starts with what the employer wants the program to accomplish - predictable costs, broader coverage, greater employee choice, or a balance of all three. Key considerations include: Coverage & Risk: Group plans provide broader protection; spending accounts are limited to the employer-funded allocation.Cost & Predictability: Group plans involve ongoing premium adjustments; spending accounts establish a defined budget.Employee Choice: Group plans provide structured coverage; spending accounts offer flexibility in how dollars are used.Administration: Each approach has different plan management, funding, claims, and renewal requirements.Tax Treatment: Tax implications vary by benefit type and spending account structure. For many organizations, combining group benefits with a spending account creates the strongest overall program - core protection with added flexibility and choice.
A Group Benefits plan should be reviewed regularly, but that does not mean it should be marketed to insurers every year. As a general guideline, we recommend assessing whether a formal market review is warranted around the 3-year mark and conducting one around the 4-year mark to ensure that the plan remains competitive. A market review does not necessarily mean changing insurers - it provides an opportunity to compare pricing, plan design and service against the broader market. Going to market too frequently can be counterproductive. Insurers consider a group’s history and the likelihood of retaining the business when deciding whether to quote and how competitively to price it. Changing carriers also creates administrative work and potential disruption for employees. There are circumstances where going to market sooner may be appropriate, including: Consecutive or significant renewal increasesOngoing service or claims administration concernsSignificant changes in workforce size or demographicsA merger, acquisition or major organizational changeMaterial changes to the plan design or funding structureConcerns that the plan is no longer competitive The objective is not to continually search for the lowest short-term price. It is to maintain a competitive, sustainable and valuable Group Benefits plan over the long term.
GROUP RETIREMENT
Group Retirement Plans are workplace savings programs offered to eligible employees through an employer-sponsored plan as part of their overall compensation package. They are designed to help employees build long-term savings, benefit from employer contributions where offered, and support greater financial security in retirement. The employer determines the eligibility requirements, contribution structure, and overall plan design. Employees make contributions through payroll deductions and select how their savings are invested from the investment options available under the plan. Plans can be structured to reflect the needs of the organization and its workforce and may evolve over time as those needs change. Employers have ongoing responsibilities for plan governance, oversight, and applicable regulatory reporting. We help employers meet these responsibilities and help employees understand their plan so they can make informed decisions.
Group Retirement Plans can leverage the purchasing power of a larger group, often providing employees with access to lower investment management fees than they may be able to obtain individually. They also make it easier to build long-term savings through regular payroll deductions and, where offered, employer contributions, while providing access to investment options, financial education, and retirement planning resources. Group Retirement Plans can also provide tax advantages, depending on the type of plan, while encouraging consistent saving and tax-deferred investment growth where applicable. Over time, this can help employees improve their financial security and retirement readiness. A well-designed Group Retirement plan is an important component of total compensation. It can help differentiate the organization from competitors, strengthen the overall employee value proposition, and support the attraction and retention of employees.
The primary cost to the employer is the contribution it makes to the plan. Employer contributions are typically established as a percentage of eligible employee earnings and may be structured as a fixed contribution, a match of employee contributions, or a combination of both with dollar maximum considerations. As a general benchmark, employer contributions average around 3% of eligible earnings. Contribution levels can vary based on the plan design, organization’s budget, and workforce objective. Where an employer match is offered, the employer’s cost will depend on the contribution formula and employee participation. Consultant Compensation: Our compensation is paid by the insurer and calculated as a percentage of all or a portion of the assets, contributions, or transfers in the plan. This compensation is included in the Investment Management Fees (IMFs) members pay on their investments. The compensation arrangement is reviewed annually as each client’s organization and plan evolve and is disclosed transparently to the employer.
Employee education and communication are an important part of a well-managed Group Retirement Plan. We help employees understand how their plan works and the options available to them throughout every stage of saving, from enrolment and contributions through investment decisions and retirement planning. Our approach is aligned with CAPSA Guidelines, which emphasize clear, ongoing and appropriately tailored member education and communication. We review plan and member data as part of our ongoing Plan Review & Investment Analysis to identify trends, areas of concern and opportunities to improve member outcomes. Recommendations for employee communication and education are then based on the findings of that review rather than a one-size-fits-all approach. Support includes tailored plan summaries, enrolment materials, employee communications and one-on-one member guidance. Employees can also reach out to us directly when they have questions about their plan or need help understanding the options and resources available to them. We also offer 8 distinct education seminars as a part of our service offering: Plan OverviewInvestments: BasicsInvestments: AdvancedBudgeting & SavingsFinancial WellnessFinancial PlanningRetirement: IncomeRetirement: Lifestyle
A Group Retirement plan should be reviewed regularly, but that does not mean it should be marketed to insurers every year. As a general guideline, we recommend assessing whether a formal market review is warranted around the 3-year mark and conducting one around the 4- to 5-year mark to ensure the plan remains competitive. A market review does not necessarily mean changing providers - it provides an opportunity to assess fees, investments, administration, technology, member support, and overall service against the broader market. These periodic evaluations are also an important part of ongoing plan governance, and there are circumstances where going to market sooner may be appropriate, including: Significant growth in plan assets or membershipConcerns with investment performance or fund lineupFees that are no longer competitiveOngoing service or administration concernsA merger, acquisition, or major organizational changeNew regulatory, governance, or reporting requirements The objective is not to continually search for the lowest fees or change providers unnecessarily. It is to maintain a competitive, well-governed Group Retirement Plan that continues to meet the needs of the organization and its employees.
HEALTH & WELLNESS
Health & Wellness programs are workplace strategies, resources, and initiatives offered to employees to support their overall well-being. They are designed to support five interconnected dimensions of workplace health & wellness: MENTALPHYSICALFINANCIALSOCIALCAREER The employer determines the priorities, programs, resources, and level of support offered. Programs can be structured to reflect the needs, culture, and goals of the organization and its workforce and typically evolve over time as those needs change. Supporting employee well-being often takes more than one solution. A Health & Wellness program can bring together workplace policies and practices, employer-sponsored benefits and services, public and community resources, and employee education to create a more coordinated approach to workplace wellness.
A well-designed Health & Wellness program can strengthen the overall employee value proposition and support attraction, retention, engagement, and a more supportive workplace culture. It can also help employers align wellness initiatives with the needs of their workforce, organizational culture, and broader business goals. Employee well-being can also have a meaningful impact on an organization. A coordinated Health & Wellness program can help support better outcomes across areas such as: Workforce Health Risk: Unaddressed health and well-being concerns can affect employees’ ability to function effectively and may contribute to broader organizational pressures over time. Productivity & Presenteeism: Health and personal challenges can reduce concentration, energy, performance, and productivity even when employees remain at work. Absenteeism & Attendance: Health and well-being challenges can contribute to missed work, late arrivals, early departures, and other attendance issues. Disability & Leave: Appropriate programs, resources, and early support can help employees remain at work where possible and support successful recovery and return to work following an absence. Employee Engagement & Retention: Employees who feel supported by their organization may be more engaged, connected, and more likely to remain with the organization. Attraction & Employee Value Proposition: A meaningful commitment to employee health and well-being can strengthen the overall employee experience and help differentiate the organization as an employer. Health & Wellness programs can also complement existing Group Benefits & Retirement plans by helping employers make more intentional use of the benefits, programs, resources, and education already available to their workforce.
The cost of Health & Wellness programs can vary significantly depending on factors such as workforce size, the organization’s priorities, the programs and resources selected, the level of customization, the frequency of initiatives, and whether external providers or specialized services are required. There is no single benchmark for what an employer should spend. Health & Wellness programs can be structured around the organization’s available budget, existing resources, and workforce needs. Some supports may already be available through existing Group Benefits & Retirement plans, spending accounts, insurer resources, or public and community programs, while other initiatives may require additional investment. Additional costs may include services such as biometric or preventive health screenings, ergonomic assessments, nutrition or vaccination clinics, workshops, wellness campaigns, spending account funding, or other specialized programs selected by the employer. The objective is not necessarily to spend more, but to make intentional use of the programs, resources, and funding available and identify where additional investment may be appropriate based on the organization’s priorities, culture, capacity, and budget. Your Health & Wellness strategy can then evolve as workforce needs and organizational priorities change. Consultant Compensation: For our group clients, workplace wellness considerations are integrated into the advice and recommendations we provide. On the rare occasion that an organization wishes to pursue a larger or specialized project, the additional work may be separately scoped under a written fee agreement, with other providers or professionals involved where appropriate.
We start by understanding where the risks and opportunities actually exist rather than assuming what employees need. For new clients, this begins with our proprietary Enlightened360° Risk Assessment. This complimentary, data-driven evaluation reviews the organization’s existing Group Benefits & Retirement plans. This assessment can be completed before engagement where the employer is able to provide the required information, or as the first step once we are retained. As part of the "DETECT" stage of our 5D Workplace Wellness Method, we review areas such as: Workforce, Utilization & Trends: Employee demographics, workforce structure & diversity, geographic considerations, participation, utilization and patterns, and other available plan data that can help uncover emerging risks and changing workforce needs. Access & Support: Whether employees have meaningful access to appropriate services, programs and funding, including how plan features, accessibility, flexibility, and available supports align with different employee needs and life stages, and where gaps or barriers may exist. Financial Protection & Cost: Whether employees and their families have appropriate financial protection and security, including potential gaps in eligibility, coverage levels, limits, contributions, and overall plan design. We also review the financial structure of the programs, including premiums, funding, fees, cost sharing, and plan sustainability & overall value. Savings & Investment Behaviours: Plan design, investment line-up & default fund, automatic features, and available decision-making tools. We also evaluate member engagement, use of investments & plan features, savings behaviours, and indicators of retirement preparedness to uncover opportunities that may support current financial security and long-term retirement outcomes. Member Communications, Education & Resources: Whether plan information is clear, relevant, consistent, and appropriately tailored to the workforce. We also assess the timing and completeness of communications, the topics covered through education and resources, and whether employees are being given the information they need to understand their plans, responsibilities, available choices, and next steps. ... and more! For existing group clients, this work does not happen only once. The same types of information are reviewed regularly through our ongoing Group Benefits & Retirement consulting work, allowing workplace wellness considerations to evolve as the organization, workforce, and available data change.
Success should be measured against the priorities established for the Health & Wellness program and the baseline information identified earlier in the process.During the “ASSESS” stage of our 5D Workplace Wellness Method, we review the findings to evaluate progress in areas such as:Workforce Health Risk: Whether employee surveys, pulse checks, workplace feedback, and other employer-reported indicators show positive change in areas such as workload, flexibility, psychological safety, connection, recognition, and overall workplace support. Productivity & Presenteeism: Whether available productivity and performance measures show reduced lost productive time and improved ability to function effectively while at work. Absenteeism & Attendance: Whether sick days, unscheduled absences, attendance frequency, and other relevant attendance measures show positive change over time. Disability & Leave: Whether disability and leave data show positive change in incidence, duration, recurrence, and return-to-work outcomes. Employee Engagement & Retention: Whether engagement results, voluntary turnover, and retention trends indicate stronger employee commitment and connection to the organization. Attraction & Employee Value Proposition: Whether applicant interest, offer acceptance, recruitment outcomes, and candidate feedback indicate a stronger and more competitive employee value proposition. The findings help determine what is working, what may need to change, and where future Health & Wellness priorities should be focused.
BUSINESS SUCCESSION PLANNING
Business succession planning helps an organization prepare for the financial impact of the death, disability, or critical illness of an owner, partner, or key contributor. For businesses with multiple owners, a shareholders’ agreement or buy-sell agreement can be an important part of the planning process. It can establish what happens to an owner’s interest following death or disability, including how the shares will be valued, who will purchase them, and the terms under which the transaction will occur. Insurance can then provide the funding needed to help carry out those arrangements. Where no ownership transfer is involved, insurance can also help address the financial impact of losing a key contributor. The insurance strategy should be coordinated with the organization’s legal, accounting, and tax planning so the coverage and underlying arrangements work together as intended.
The objective is to ensure appropriate plans and funding are in place to help protect the business, maintain financial stability, and support continuity when an unexpected event occurs. The death, disability, or critical illness of an owner, partner, or key contributor can create immediate financial pressures for an organization. Depending on the circumstances, the business may need funds to maintain operations, replace a key contributor, address lost revenue or other financial obligations, or complete the purchase of an owner’s interest. Planning in advance helps ensure the appropriate insurance and funding arrangements are established before they are needed, rather than requiring the business or remaining owners to find capital after an unexpected event has already occurred.
The professionals involved will depend on the size and complexity of the business and the succession strategy. For the insurance-related aspects of business succession planning, this may include: Accountants & Tax Specialists: Advise on accounting and tax issues that may arise during the succession planning process. Legal Advisors / Lawyers: Advise on legal issues and may draft the buy-sell agreement and other legal arrangements required to implement the succession strategy. Bank Manager: May be involved where business debt or financing forms part of the succession strategy. Insurance Advisor: Advises on how Life, Critical Illness, and Disability Insurance may be used to provide funding when an insured event affects the succession plan. These professionals may work together to help ensure the tax, legal, insurance, and financing components of the succession strategy are appropriately coordinated.
The cost of business succession insurance can vary significantly depending on factors such as the type and amount of coverage selected, the age and health of the insured individual, smoking status, occupation, and the overall design of the policy. There is no single benchmark for what a business should expect to pay. Life, Critical Illness, and Disability Insurance are priced differently, with premiums determined by the coverage selected and the applicable underwriting factors and policy features. Final premiums and available coverage are determined by the insurer and may differ from the initial illustration or estimate based on the results of underwriting. Consultant Compensation: Our compensation is paid by the insurer in connection with the insurance policy placed and is disclosed transparently to the client.
Succession insurance should be reviewed periodically and whenever there is a significant change to the business, its ownership, or the individuals being insured. This may include: A new owner or partnerA change in business valueUpdated shareholders’ or buy-sell agreementsNew or refinanced debtA change in the role of a key contributorA significant change in the amount or purpose of the existing coverage Regular reviews help ensure the coverage, ownership, beneficiaries, and funding arrangements continue to align with the purpose for which the insurance was established.
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