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Group Health & Dental Plans
Traditional Plans
Administrative Services Only Plans (ASO)
Health-Care Spending Accounts (HSA)
Health and Welfare Trusts
Flex Plans – modular, core plus and cafeteria
and more…
Group Life Insurance
Life Insurance
Dependent Life
Optional Life Insurance
Accidental Death & Dismemberment (AD&D)
Group Disability Insurance
Salary Continuation Plans
Guaranteed Standard Issue (GSI) LTD plans
Return-to-work programs
Critical Illness Insurance
Group Critical Illness Plans
Guaranteed Standard Issue (GSI) CI plans
Group RRSP & Pension Plans
Group Registered Retirement Savings Plans
Defined Contribution Registered Pension Plans
Deferred Profit Sharing Plans
Non-Registered Savings Plans
Group Specialty Products
Employee Assistance Programs (EAP)
Enhanced executive coverage (top-up) for Life, LTD or Health and Dental
Your Business | Our Expertise
Stronger Together
Group Benefits Consulting
At Wedgwood Benefits, our goal is to provide you with an innovative and creative approach to managing your firm’s group benefits plan. Together, we will create, administer, and manage a benefits plan that meets your firm’s business objectives, corporate culture, and compensation philosophy. Our first priority is to make sure you receive unparalleled value and service from your benefits plan at a competitive cost.
How We Do It
Plan Review
Understanding the framework of your current group benefits plan is critical for us at Wedgwood Benefits to be able to provide our clients with value-added services and innovative solutions. In reviewing your employee benefits plan we:
- Analyse and breakdown the current funding of your plan
- Assess compliance with relevant legislation
- Evaluate your claim history
- Review current trends and industry practices
Financial Audit
Today’s business environment is rapidly evolving and so should your benefits plan. Due to changes such as rising health care costs, shifting employee priorities, rapid growth in employees, government legislation changes, and your financial circumstances we recommend re-evaluating your benefits plan regularly.
We conduct a Financial Audit of your benefits plan that analyses:
- Current rates and funding method
- Current plan design
- Claims history (premium vs. claims)
- Trend and inflationary pressures
This audit enables us to:
- Discuss alternative funding vehicles as well as other cost containment programs
- Prepare and evaluate the proposals from potential new benefits providers
- Negotiate directly with the benefit plan provider on your behalf
When this process has been completed we will make specific recommendations to you in order to optimize your benefits plan dollars.
Contractual Audit
The Financial Audit examines one side of your benefits plan and the Contractual Audit addresses the other side. Evaluating your current plan framework and it’s effect on costs, employee satisfaction, and employee wants/needs is key to an overall successful benefits plan.
The Contractual Audit includes:
- A detailed review of your current contract
- Identify key areas of improvement or cost containment\
- Analyse how the plan fits with your firm’s Executive Compensation policy
Solutions
At Wedgwood Benefits, our group consultants are experts at helping you design just the right benefits plan for your firm using a wide variety of solutions:
- Group Health & Dental Plans
- Group Life Insurance
- Group Disability Insurance
- Group Critical Illness Insurance
- Group RRSP & Pension Plans
- Group International Benefits
- Group Specialty Products
Transition Support
If a new benefits provider is right for your firm Wedgwood Benefits will lead you through the process from start to finish. Our services include:
- Prepare and direct enrollment
- Communicate any benefit changes to client employees
- Install the new plan with you, demonstrating new administrative procedures, with benefits provider involvement
- Conduct employee benefit communication session(s), as requested
Let us work with you to manage the transition to the new provider. Our job is to complete this process seamlessly.
Service Deliverables
Wedgwood Benefits is committed to providing the highest quality service to our clients. Our services include:
- Apprising you of ever-changing provincial and federal legislation and its potential impact upon benefit program, and changing benefit market trends
- Arrange and communicate amendments
- Support your staff with the ongoing administration of the program
- Handle employee inquiries, expedite claims processing
- Monitor reserves to ensure they are in line with the claims experience
- Continually review funding arrangements to ensure you getting the best value for your benefits dollar
Employee Communications
Employee Communications is a critical component of a plan‘s success. An accurate portrayal of the plan’s value helps to motivate your employees. Wedgwood Benefits can prepare a communications package that presents a clear message to your employees that includes:
- Benefits comparison (when switching providers and/or making changes)
- Benefits newsletters
- Customized PowerPoint presentations
- Customized employee handouts
- Executive and/or Management reports detailing the financial status of the plan
