and still going!

Over $25 Million In Premiums Given Back To Small Businesses

How It Works

Receive a refund when your claims and fees are less than your premiums

Premiums

The total amount you pay to get health benefits.


Claims & Fees

Your employee claims (dentists, prescriptions, massages etc) and our fees.


Refunds

Since premiums were higher than claims & fees, you would be entitled to a refund.

You get this back!

What If There Is A Deficit?

If your claims and fees are more than your premiums, your deficit is covered by the Co-operative, not you.

Premiums

Your premium is total amount you pay to get health benefits.


Claims & Fees

In this scenario, your employees claimed higher than normal health expenses.


Refunds

Employers are not required to pay out of pocket. This deficit is forgiven by the Co-operative.

Covered by the Co-operative

How It Works

Receive a refund when your claims and fees are less than your premiums

You get this back!

Premiums

The total amount you pay to get health benefits.

Claims & Fees

The total amount you pay to get health benefits.

Refunds

The total amount you pay to get health benefits.

What If There Is A Deficit?

If your claims and fees are more than your premiums, your deficit
is covered by the Co-operative, not you.

Covered by the Co-operative

Premiums

Your premium is total amount you pay to get health benefits.

Claims & Fees

In this scenario, your employees claimed higher than normal health expenses.

Deficit

Employers are not required to pay out of pocket. This deficit is forgiven by the Co-operative.

Testimonial

Testimonial

Getting a refund is like getting a surprise year end bonus. We have received over $293,646 worth of surprises since joining Beneplan.

Nick Moschella

VP Operations, Forbes Hewlett Transportation

Testimonial

We have received over $414,941 in refunds since joining Beneplan.

George Zeni

Vice President, Clover Tool Manufacturing

What's the catch?
Well, there really is none.

Put simply, if members used less than what they contributed, they are entitled to a refund. If they used more than their contribution, the loss is covered by the co-operative's central pool of funds.

Proof Is In The Pudding

$25M+

of refunds given back since 2000

80%

of members receive a refund every year, on average

10%

of group premiums are refunded every year, on average

What will your refund look like?

Beneplan customers received an average of $15,880 in refunds in 2020.

FREQUENTLY ASKED

Have Questions?

So, how does Beneplan make money?
Do you overcharge my premiums so that I can get a refund?
What happens if my company ends up in a deficit, do I have to pay the deficit?
Will my rates go up next year to recoup my deficit?
Why should I share my surplus with someone else?

FREQUENTLY ASKED

Have Questions?

So, how does Beneplan make money?

As a co-operative, our goal is to maximize the well being of our members and not the bottom line. Our Third Party Administrator, Beneplan Inc. manages the day to day operations of the co-operative (service, underwrite, market etc.) for which it charges standard admin fees.

Do you overcharge my premiums so that I can get a refund?

No, we price your premiums based on your claims experience. Our goal is not to produce a refund, the goal is simply to provide you with the lowest possible rate. The refund is an added bonus should your claims & expenses be less than your premiums.

What happens if my company ends up in a deficit, do I have to pay the deficit?

No! Deficits are absorbed and paid for by the co-operative. This is achieved by taking small amounts from other members in the co-operative who had surpluses that year.

Will my rates go up next year to recoup my deficit?

Rates are always based on claims experience, therefore a rate increase could happen but not to recoup the deficit but rather to properly fund the expected claims for the upcoming year.

Why should I share my surplus with someone else?

Most employers realize that even though they may have surpluses year over year, deficits can occur at any time and this is why sharing their surpluses is important. Should employers want to have greater control of their surpluses, they can always opt-out of the co-operative and fund their health & dental benefits on a self insured basis (ASO).

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Beneplan advisor

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As one of Canada's fastest-growing benefits providers, we value advisors as an essential part of our business. Join our hand picked group of trusted advisors.

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