BP Consulting specializes in corporate employee benefits programs and medicare. It includes various coverage like voluntary benefits, vision plans, medicare, medical insurance, disability, life insurance, etc. The group benefits consulting provides a free comprehensive review of your group insurance plans which is objectively to provide your company with the money-saving solutions in order to raise the plan design options, health care costs, healthcare reform law compliance, and employer contribution strategies.
A group benefits consulting is specialized in all the areas of employee benefits for the clients and makes a more manageable administrative workload by streamlining the plan set up, terminations, enrollments, claims processing, webinar enrollment meeting, one on one employee sessions, etc. They provide themselves in the industry with product knowledge which is being current with the healthcare reform law. There are huge benefits that you can acquire through group benefits plans.
The premiums paid by the employer are the tax that is deductible as a business expense. There will be a labour shortage with the baby boomer who is retiring in the next 5 to 10 years to pay a way of attracting and retaining valuable employees. It helps to meet competition in the labour market, especially when you search for employees who are already enjoying the group benefits plan elsewhere. It fosters a healthy workforce and pays the way for improving the employee’s productivity, morale, and efficiency.
It can also offer this instead of extra monetary compensation. They provide easy to install plans which can be administered and adjusted to the changes in the workplace. When a company decides to give a raise in employment, then depending on the province, the employer should have to spend additional payroll taxes, and there are lots of causes for the hidden cost of a pay raise.
IT may include employment insurance, Canadian pension plan, employer health tax, workers compensation, and many others. If the employee adds extra towards the health benefit plan, then all the additional payment spent will directly go to the employee’s benefit. On the plan’s premiums, provincial sales tax and premium tax are charged. But these taxes are still lesser than the payroll taxes assessed on the salary.
About BP Consulting- They are one of the leading group benefits consulting services in Canada. They are well known for their efficiency and admirable plans. Their fully insured health benefits are traditional and turnkey solutions that offer the employees a maximum coverage level. These plans are yearly expenditure and customizable and are also easy to calculate. They provide excellent customer service, and it has low risks as it is insulated from fluctuating health claims.