Nicholas Chu

Co-founder Helping Engineering Firms to Demystify Employee Benefits and to Sustainably Lower Costs @Benecare Consulting Inc

CA

WHAT WE DO and WHAT MAKES US DIFFERENT?We structure benefit plans to have sustainable rate savings and allow you to focus on your priorities by demystifying insurance, and responding quickly, competently, and patiently to your inquiries. HOW WE DO ITWe utilize BeneCare\'s three-pronged strategy:Make it sustainable with the correct pricing method (PM) and cost controlsThe appropriate PM depends on various factors, including the size of the organization, employee turnover, industry type, risk tolerance, etc.Do fully pooled plans work best, or other models that provide a refund of premiums/deposits?A benefits plan must be financially sustainable yet also remain competitive. Cost controls can include selecting the appropriate:Drug formularies, and dispensing fee deductiblesCo-insurance percentagesWays the RMTs, physios, chiros, etc. are covered to prevent abuseHR and onboarding checklists:Having an employee benefit plan comes with responsibilities. Not knowing and following the rules can expose an organization to legal liability and be a source of frustration. Here\'s an example of some of the concerns we help alleviate during our process:How do I help protect myself if I forget to enrol an employee, there is a large claim, and the insurance carrier doesn\'t pay out?As it pertains to benefits, what wording should I put in my HR policies, and how long are benefits supposed to be continued for when employees can\'t come to work if they\'re sick?What do my employees need to know, and what are their responsibilities pertaining to the benefits plan? Create a truly unique offeringA plan tailored to your firm shows that you care and lessens your employee\'s burdens so they can be more engaged and productive at work. For example, employees might be thinking:I need help with a major mental health concern I\'m dealing withI want a health/dental offering that suits my personal needsHow can I exercise and eat better?

The University of British Columbia

B.A.Sc