As workplaces in Canada become more diverse, a one-size-fits-all group benefits plan no longer meets the needs of modern employees. The workforce now spans multiple generations, different lifestyles, and unique health and wellness priorities. Employers who offer customized group benefits plans are better positioned to attract, retain, and support employees, improving overall job satisfaction and productivity.
With companies in Toronto, Vancouver, Calgary, and Montreal competing for top talent, flexibility in group benefits has become a strategic advantage. Employees want coverage that aligns with their personal and family needs, whether it’s enhanced mental health support, more extensive vision care, or expanded wellness spending options.
This guide explores how employers can customize group benefits plans, ensuring that businesses remain competitive while employees receive meaningful and valuable coverage.
By offering a customizable group benefits plan, employers can accommodate employees at different life stages, leading to higher engagement and loyalty.
Many employees do not fully use their group benefits because they include coverage they don’t need. A survey found that only 49% of Canadian employees regularly use their full benefits package. By providing flexible options, businesses can ensure that employees make the most of their benefits, leading to greater job satisfaction.
Instead of a fixed benefits package, modular benefits plans allow employees to choose coverage levels for different categories.
This structure ensures that employees only pay for benefits they will use, making group benefits more cost-effective and personalized.
Health Spending Accounts (HSAs) are tax-free accounts that allow employees to cover medical expenses not included in their standard health plan. HSAs provide flexibility for employees with varying healthcare needs.
Wellness Spending Accounts (WSAs) are taxable benefits that cover non-medical wellness expenses, such as:
Employers in Ontario, Alberta, British Columbia, and Quebec are increasingly using HSAs and WSAs to offer more customized health and wellness benefits without increasing insurance costs.
Mental health support has become one of the most in-demand employee benefits in Canada. Employers can enhance their group benefits plan by adding:
Employees today value benefits that support their lifestyle just as much as traditional healthcare coverage. Employers can enhance group benefits by adding:
Not all employees require the same level of drug and dental coverage. Employers can offer:
By customizing drug and dental benefits, companies save on unnecessary premiums while ensuring that employees receive meaningful coverage.
Before making changes, conduct an anonymous survey to ask employees about their current benefits usage and desired improvements. This helps in designing a group benefits package that employees will actually value.
A customized benefits plan only works if employees understand how to use it. Employers should:
Administering a flexible benefits plan can be complex. Employers can streamline the process by using a digital benefits administration platform to manage:
Managing benefits plans requires a seamless digital platform to handle claims, reimbursements, and plan administration efficiently. GoKlaim offers an innovative solution that simplifies benefits customization for employers.
For businesses in Toronto, Calgary, Vancouver, and Montreal, GoKlaim provides a streamlined approach to group benefits management, ensuring that employees receive the coverage they actually need.
With the growing demand for flexible, employee-centric benefits, companies must rethink how they structure group benefits insurance plans. GoKlaim’s technology-driven platform allows businesses to provide customized coverage options, ensuring a better benefits experience for employees while optimizing costs for employers.
