It is time to remind your employees that you don’t lose your benefits. When employees run out and use these benefits at the end of the year, it normally means increased rates the following year. In most instances, these rates are shared by the Employer and Employee.
If you need to have work done, please go to the practitioner and use the benefits that are provided you. As an Employer you know that every year your friendly Broker comes around and says, here is how much premium you have paid into your Extended Health and Dental Benefits. If the claims and administration costs exceed the premiums paid in, the rates increase. Which means the following year we have the discussion around can you afford to keep the benefits the employees currently enjoy in place.
The other thing is not everyone has a calendar year benefit plan. Some benefit plans are benefit year, which could be any month of the year that your Employee Benefit Plan renews.
Benefit plans are in place for employees to ensure they can access the Extended Health and Dental benefits that keep them and their family healthy.
Glendinning Insurance Services is happy to review these options and offer assistance to explain this to your employees. Contact (250) 764-0142 if you would like us to help you communicate this to your employees.
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