Do Benefit Plans and Medical Marijuana Mix?

benefit plans and medical marijuana

A common question I receive from benefit plan administrators is ‘how will medical marijuana affect our benefit plan’?  Usually it stems from plan members asking if their plan includes medical marijuana as part of the offering.  The Liberal government’s promise to legalize the use of recreational marijuana by July 2018 is helping to fuel many of these discussions.  So how … Read More

The Winds of Change in the Employee Benefit World

There appears to be a growing disconnect between employee benefit plan sponsors and the employees who use the plan.  This is what prompts us to believe that there will be inevitable change in the employee benefit world.  There appears to be a growing frustration between the two parties. Never before in employee benefits has there been the numerous external factors … Read More

A Business Owner’s Guide To Employee Benefit Plans

guide to employee benefit plans

Business Owners:  An Important Guide to Employee Benefit Plans Business owners need to be aware of the vital parts of an employee benefit plan.  Whether you manage the plan yourself or you have someone else within your business that acts as a benefit administrator, you need to be aware of some key elements that can reduce long term cost, create greater … Read More

Are You a Business Owner Without a Benefit Plan?

business owner without a benefit plan

Should You Be Paying Personally for Health and Dental Expenses? In short, the answer is no. You can pay more taxes but why would you? As business owners, the CRA gives us very few opportunities to do things in a tax-preferred way. Business owners are entitled to write off legitimate health and dental expenses through your business. There are a … Read More

Just Ask Me How Much I Get Paid

Let’s be clear about this, transparency and disclosure of compensation is a sign of the times.  There are a number of industries that work on this premise.  It helps to earn trust with clients and ensure that you’re making recommendations because it is in your clients’ best interests and not your own.  So how much do benefit consultants get paid? … Read More

Managing Employee Benefit Costs

Employee Benefit Plan Tips

Over the past couple of decades employee benefits have increased in importance and have become a critical part of employee compensation programs. Employees are using their dental, prescription drug, paramedical and vision coverage at record levels. The three major factors contributing to the increases in benefits costs are: Aging: As we get older, we use more health care products and … Read More

Are you paying too much at the dentist?

paying too much at the dentist

I love to learn.  A big part of what I do is teaching business owners and employees about how to keep more money in his/her pockets. So when I find out something new in the employee benefits field, I like to share it.  When it is something that potentially can affect everyone, it’s even more relevant.  Doesn’t everyone want to … Read More

Tips to Setting Up a Successful Employee Benefit Plan

employee benefit plan

All Employee Benefit Plans Should Not Be Created Equal When setting up an employee benefit plan, not enough attention is paid to future sustainability and the important considerations that need to be taken into account setting up an employee benefit plan or changing benefit providers. Weigh these tips very carefully when going through the set-up process and you can avoid … Read More

Get Rid of Accidental Death and Dismemberment Insurance

accidental death and dismemberment insurance

Most companies have Accidental Death and Dismemberment Insurance (AD&D) on their group benefit plans but should they? This type of insurance provides benefits for injury resulting in loss, or permanent and total loss of use of body parts.  It also pays out a benefit in the event of death caused by accident on or off the job.  It’s a benefit … Read More