Business Solutions

Employee Group Benefits represent a significant financial obligation to employers while playing an important role in providing for the well-being of employees and their families. At The William Douglas Group Inc. we appreciate the distinct objectives that each business has. Recognizing this diversity, we strive to find creative and flexible group benefit solutions for your company. We are committed to ensuring that employers get the best value for their benefit dollar.

As brokers and consultants, we represent virtually all insurance providers in Canada, enabling us to make truly objective recommendations to our clients that put their needs first.

Group Benefits Brochure

Group Benefits services include:

• Needs analysis
• Plan design
• Plan implementation
• Administrative support
• Claims resolution
• Renewal rate analysis
• Cost containment
• Plan marketing

Implementing a properly designed employee group benefits plan can be a tremendously cost-effective way to provide your employees with the financial security they want and need in today’s market. At the same time, it builds trust and goodwill for a strong workforce, promotes health and wellness, encourages loyalty, and enhances productivity.

As an employer, if you are not currently offering a Group Retirement and Savings Plan, many of your employees will delay investing for the future in favour of managing their own short-term financial obligations.

A group retirement and savings plan can work with your company’s overall compensation approach to provide greater financial security for your employees and their families. At the same time, it tangibly conveys your concern for your employees’ life after work.

Meeting your group retirement and savings plans needs is easy to do! You can meet with our Advisors to assess the quality products and services available to you in the market. WDG Inc. will then provide your company with an easy to read report highlighting each provider’s positive and negative attributes suited to your needs, to help you make your decision easier.

Communication is vital to the success of any group retirement or savings plan. Once a provider has been selected, it is important your employees are engaged and onboard to optimize this plan. We will work with the selected provider to help make this plan a success within your company, by holding regular annual educational meetings and individual planning sessions.

Help your company gain a competitive edge when recruiting, and enhance employee appreciation and loyalty by creating a workplace in which your employees want to stay for the long term.

If you like the idea of making employees happy while keeping operating costs down, then a Health Spending Account with flexible options can help you achieve these worthy goals. It is a tax-effective solution too. Here’s how this neat idea akin to a special savings account works in practice:

• After creating health spending accounts for each employee benefiting, a firm credits each of these accounts annually according to internal policy. There are no restrictions to the amounts involved, except that these should be in line with relative remuneration.
• As the year progresses employees may spend their credits to pay for dental and medical care not included in their group benefit plan.
• A health spending account program could be combined with an entry-level group insurance plan, or be offered as a stand-alone benefit option.

Employer Benefits

Cost Smoothing– A health spending account is a capped benefit vehicle that reduces the threat of fluctuating overall claim rates and facilitates accurate cost budgeting.

Tax Efficiency– Health spending account disbursements and administrative fees are fully tax deductible.

Employee Benefits

Flexibility of Choice– Health spending account credits can be spent on any eligible medical or dental treatment. Within this restriction, company employees have autonomy to choose which treatments suit them best.

Reduced Out of Pocket Spending– Provided that a health spending account program is combined with an entry-level group insurance plan, credits standing to the account of an employee may be used to:

• Settle deductibles applying to services otherwise covered by the group insurance plan
• Pay above-ceiling amounts for group insurance benefits
• Pay for medical and dental care excluded from the group insurance plan, provided that these are recognized under the Income Tax Act.
• With the exception of Revenue Québec, amounts credited to a health spending account are treated as non-taxable income by the government

Could you think of a more tax-effective way to keep employees happy while manage costs down? Speak to the consultants at WDG Inc. and discover how easy it is to implement a health spending account program for your company.