We provide solutions to companies who would like to explore the options of adopting Flexi-Benefits program. We can customised the program to suit your needs and provide you with a solution based program to meet your needs. Definition Benefits plan that allows employees to select from a pool of choices, some or all of which may be tax-advantaged. Potential choices include cash, retirement plan contributions, vacation days, and insurance. It is also known as Cafeteria Plan (though there are other infamous names such as Modular Plans, Private Health Services Plans, Core Plus Option Plans). Introduction Historically, employee benefit plans have been provided on a one-size-fits all basis, designed to meet the perceived needs of the assumed ‘typical employee and family.’ The diversity of employee needs and the advent of technology have contributed to a growing trend towards more flexible benefit arrangements. According to surveys, flexible benefit plans continue to grow in popularity and offer employees the opportunity to select those benefits they need, while helping the employer manages benefit plan costs. As a concept, flexible benefit plans have been around for about two decades. What is new, however, is that more employers seem to be using them. Benefits or options are paid for using the credits the employee has been assigned. Unused credits are commonly deposited into a health care spending account, cashed out, carried forward and etc. Employers determine how much they wish to contribute towards the plan, usually based on a flat dollar amount per employee or a percentage of each employee’s salary. Flexible benefits are a natural choice for employers seeking to partner with employees in managing benefit plan costs. For some organizations, a comprehensive flexible benefit plans with many benefits is [...]
Disability Top Up A Disability Top-up consists of combining your current group disability insurance with additional coverage from an individual plan. This concept works best in situations where the maximum benefit available under your group long-term disability plan is low in relation to your current income. A Top-up plan helps to ensure that you have the appropriate amount of income replaced in the event of disability. In addition, it is a method of “grouping” individual disability insurance policies which can provide an attractive, cost-effective benefit for employees of a corporation or a non-corporate entity. Medical Plan Top Up A medical top up that enables employees to be comfortable when they retire. Also allows them to buy for their dependants in the event they are not sponsored by the company. This allows them to buy at a special privilege pricing instead.
Medical Health Insurance Program To structure a health benefit for the staff and their dependants and to negotiate for the best rate for the program. It includes Outpatient and Hospitalisation Care. We will share with you the best practices in the market that will suit your organisation. Group Term Life and Personal Accident lnsurance Program Group Term Life Insurance which covers employees for Death, Critical Illness, Accident and Total or Partial Disability, is a lump sum cash benefit. Proceeds are payable tax-free to the insured individual. Critical Illness insurance can assist the patient and their family with some of the extraordinary costs of facing a critical illness, and how the proceeds are used is completely up to the individual. They may choose to use it on experimental drug treatments, uncovered provincial diagnostic tests, home / work modifications (wheelchair ramps etc.), nursing care, debt/ mortgage repayment or perhaps towards a family holiday. We take the time to understand the full scope of our clients’ needs and goals. This time invested up front allows us to focus on innovative and cost effective solutions, saving our client’s critical time and resources. We firmly believe that our success and growth is a result of our people, integrity and relationships with both clients and providers. Claims Management Companies which do not have a panel of contracted clinics usually allow their employees to seek treatments from any clinics of their choice. Employees have to seek reimbursement from their companies by submitting their receipts. Larger companies which opted for such scheme usually impose co-payment features or cap a limit for each consultation for cash reimbursements. These companies may be able to control some cost by putting a cap to the amount which can [...]