Benefit Planning
Self-Administered Health Plans
Flexible Benefit Plans
Benefit Plan Review and Pricing
Profit Sharing Plans (EPSPs)
Wage Loss Replacement Plans
Efficient and Creative Compensation!
Self-Administered Health Plans
Flexible Benefit Plans
Benefit Plan Review and Pricing
Profit Sharing Plans (EPSPs)
Wage Loss Replacement Plans
Efficient and Creative Compensation!
Self-Administered Health Plans
We specialize in assisting with the arrangement of health plans that do not employ insurance companies. Self-administered health programs are what we believe to be the next wave in small business planning. Our self-administration program gets clients up and running with confidence.
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Flexible Benefit Plans
The key is to allow employees to direct their compensation into areas that they choose. A flexible benefit plan allows each executive to choose where to send their compensation dollars; the health plan, retirement plan, job enhancement fund or cash.
Advantages Include:
Cost Certainty - determine exactly what expense to expect annually. Defined benefit costs and flat fees.
Flexibility - ensure that each employee finds value in the program and dollars spent to fund it are not wasted.
Score-Carding & Communication - each and every benefit offered to employees should be communicated for full value.
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Benefit Plan Review and Pricing
These plans have offered much pressure to employers in recent years with spiraling costs. Traditional plans need to be reviewed and aggressively re-priced. Insurance companies will respond to mathematical analysis when reviewing plan renewals.
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Profit Sharing Plans (EPSPs)
These can be simple and powerful tools that motivate employees to increase the bottom line, while rewarding their loyalty. Some applications of the EPSP also allow for reduction of payroll expenses (CPP) as well as a one time tax deferral of approximately 12 months.
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Wage Loss Replacement Plan
For executives earning over $90,000 of income, it is likely more efficient to have the corporation pay for disability coverage through a Wage Loss Replacement Plan. The cost for the program becomes deductible to the corporation and non-taxable to the executive. The payout, despite being taxable, should be larger for the same dollars spent. No cost to the corporation and a higher payout to the executive; that's efficient compensation!
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