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The death of one-size-fits-all insurance plans

Changing plan perception and increasing employee appreciation.

A “One-size-fits-all” plan may not be the best way to service your workers and offer them the optimal coverage for their situation. Brokers are now working to offer more comprehensive plans that provide stakeholders increased flexibility

Say you currently offer 80% coverage to your employees for health care, prescription drug coverage and dental care; are these ratios consistent with the needs of everyone within your company? Is a 25 year-old without children in need of the same coverage as someone who may have a few dependants and a mortgage to pay?

Employee perspectives on benefit plans are widely different and, as an employer, you may be spending tens or hundreds of thousands of dollars yearly on a plan that is not satisfactory. Offering a benefits plan with different options will not necessarily increase your costs but can definitely increase employee appreciation. Did you know that increasing employee payroll deductions by 10-15% could allow employees to access major and Orthodontic dental services and the addition of a health spending account ?

The industry is moving away from the “One-plan-fits-all” model and offering modular plans that are more tailored to the desires and unique circumstances of stakeholders and their employees. For example, offering a plan with three options: Gold- Silver and Bronze, each containing different levels of coverage (higher rates for more coverage) allows for people to make a choice in how much they are ready to invest per paycheck.

But beyond giving choice, these plans show people that their employers care for them and want what’s best for them. Flexible benefits plans are the way of the future, and those who do not offer them are not innovating or up to date with the current market.

We have over 30 years of experience in creating and adapting modular plans for stakeholders and their employees. Let us know if we can help !

Our testimonies
« Antonelli & Morel have been providing our organization innovative employee benefit solutions for over 15 years. Their ongoing service commitment allows us the peace of mind to focus more effectively on other areas of our business. »
Rosaria Abreu
Vice President of Finance and Administration
Invera Inc
« We have been doing business with Antonelli & Morel for more than 10 years now. Their team of experienced professionals has provided us with outstanding service year after year. They have adapted a group insurance plan that perfectly matches our employees’ needs. »
Glenn Watt
Tenaquip Limited