WELLNESS AS A STRATEGY,
EMPLOYEE BENEFIT PLANS AS A SOLUTION
In today's competitive market, attracting and retaining top talent requires more than just a paycheck—it demands a commitment to health and wellness. In fact, 36% of small business employees say they would prefer health and wellness benefits over a raise.
At Consilio Financial Group, we’ve been guiding businesses like yours for over 15 years. Our expertise in benefits and insurance is matched only by our dedication to understanding the unique needs of your business.
Explore the options below to learn more about how we can help you create a tailored benefits package that works for your team.
Navigating the complexities of employee wellness and benefits can be challenging. Which option best suits your business?
THE TRADITIONAL BENEFIT PLAN
A traditional benefit plan offers extensive coverage for life, disability, health, and dental expenses.
Predictable Costs: Regular monthly premiums with an annual guarantee.
Risk-Free: The insurance carrier takes on all the risk.
Cost Savings: Switching insurance carriers can potentially reduce costs.
Negotiable Rates: Annual rate adjustments can be negotiated.
Financial Security: The plan sponsor isn’t liable for any annual deficits.
Transparency: Claims experience is fully disclosed.
THE SELF-FUNDED HEALTH AND DENTAL PLAN
This option mirrors a traditional benefit plan but with a key difference: as the Plan Sponsor, you use your own funds to cover Health and Dental claims. You also pay a reasonable administrative fee and invest in Stop Loss insurance to protect against major unexpected claims.
Full control over your program and costs, year after year
Low administrative fees
High flexibility in plan design
Expenses are only incurred when a claim is made
Includes electronic claim reimbursement, just like traditional plans
THE POOLED PLAN
Claims are pooled with those of other participating firms, leading to more stable and manageable premium adjustments.
Predictable Costs: Regular monthly premiums with an annual guarantee.
Risk-Free: The insurance carrier absorbs all the risk.
Cost-Effective: Administrative fees decrease as the pool size increases.
Stable Premiums: Consistent and manageable premiums year over year.
Reinvestment Benefits: Annual premium surpluses can be used to enhance the plan.
Privacy Assurance: Claims experience remains confidential.
THE HEALTH CARE SPENDING ACCOUNT
This approach functions similarly to a bank account: the plan sponsor allocates a fixed annual amount of funds for each member to use for Health and Dental expense reimbursements.
Personalized Flexibility: Funds can be utilized to meet each individual’s specific healthcare needs.
Cost Efficiency: No need for pre-funding the account, and expenses occur only when a claim is made.
Controlled Usage: Unused funds do not carry over (unless an optional carry-forward provision is included), encouraging mindful spending.
Complementary Coverage: Works effectively alongside traditional benefit plans to cover Paramedical and additional Dental expenses.
GROUP RETIREMENT & SAVINGS PLAN
Financially secure employees are more productive and loyal. We’ll design and manage a Group RRSP that fosters employee loyalty and boosts workplace productivity.
WHY CHOOSE CONSILIO FINANCIAL GROUP?
Here’s why: we don’t just understand insurance, we take the time to understand your business.
IN-DEPTH ANALYSIS
We thoroughly assess your business, employee structure, and unique needs. Whether you have a small core staff, contractors, part-timers, or employees with diverse needs, we tailor solutions that work—even for the most complex situations.
COMPREHENSIVE MARKET RESEARCH
After identifying the best options for your business, we gather quotes from all leading insurance carriers to ensure you receive the ideal plan at the most competitive price. Most importantly, we will study the future rate impact of claims on your plan and discuss solutions.
PLAN DESIGN REVIEWS
Already have an employee benefits plan? We’ll audit your current setup to ensure your plan design remains valuable as your business evolves, helping you maximize the return on your premium investment.
EXECUTIVE BENEFITS SOLUTIONS
From Key Person Life and Disability Insurance to Partner Buy-Out Insurance, we provide the right coverage to protect and support your business’s leadership.
