80% of Businesses With Existing Group Benefit Plans End Up Unknowingly Overspending. We Fix This!
Benefit Premium Wastage is Real!
Why You Should Be Concerned About Wastage Being Present in Your Current Program
Benefits Wastage Happens in 2 Ways.
1. Over time, when employee benefit plans don’t get reviewed properly a gap between the premiums being paid and the claims being submitted starts to create a chasm. This gap is money being wasted and it can add up quickly.
2. Wastage also happens the moment the plan has been designed. If employees have benefits that are assigned to them that they don’t need, want or use – wastage happens.
Apathy is the greatest threat. You may be happy with your plan, happy with your Advisor but lurking underneath could be a monster siphoning off money you’ll never get back each and every month.
Our Video Shows You How to Create Flexibility That Removes Benefit Wastage
What is a Benefits Wastage Analysis?
Your Historical Data Will Tell Us Where You’re Unknowingly Overspending and Most Importantly Why It’s Happening
Our proprietary software will analyse your claims, premiums paid and benchmark your plan design against your employee demographics to uncover precisely where the gaps are.
Your complimentary report will provide recommendations on how to remove the wastage, and provide staff with the benefits they need.
If your organisation is over 25 employees we can identify wellness needs by examining the various types of drugs being utilised, at the group level; so that you have a customised strategy to help your employees stay well.
Top Benefit Questions We Get Asked
Aren't all Brokers the same, why should we consider OnPoint?
Brokers generate quotes and sell on price, and might monitor the plan for you. OnPoint is a benefits consultancy, who understands the total rewards space. We rely on understanding your company, use data to benchmark your plan and have software programs built on A.I. to uncover risks. Benefits (health, wellness, retirement savings), and the technology to deliver benefits, is all we do. When you engage us, we’ll share our full service offer to showcase more of you get by working with a firm like ours. You’ll be surprised at the amount of value we provide!
Do we have to switch carriers in order to get savings?
Our first goal is to improve what you have and then see if alternatives make sense. 80% of the time there’s a significant gap between the premiums you’ve been paying and the claims that have been submitted. Our software will crunch the data and provide recommendations.
What providers do you work with?
We have access to the vast majority of employee benefits, wellness, EAP and group retirement programs. Once we have a discovery call, we’ll be able to design your plan with your needs in mind.
What kind of coverage do you offer?
What kind of coverage do you need? We design plans based on what your organisation needs to keep your specific employees healthy and engaged. We don’t put benefits or coverages in a box. During our discovery call, we’ll uncover what’s important for your program.
We're currently in a pooled program, won't it be risk for us to leave?
In a pooled program, like the Chamber’s plan; you’re either being subsidized or subsidising other businesses claims. Yes, pooled programs generally help keep premiums smooth and for many small businesses pooled programs are ideal. There are many different pooled programs. Let’s make sure you’re in the best one. We have access to several pooled and semi-pooled programs!
How do we get started?
Are EAP programs really worth it? Do they work?
As part of our “better wellness” focus, we help assess the mental wellbeing aspect of benefits. EAP’s are a relic from the past and we have some wonderful ideas and programs we can explore that will offer immediate access (no hoops to jump through) for your staff and provide lasting, meaningful results. Let’s upgrade your mental wellbeing support. EAP is employee assistance program.
Do you help with group retirement savings plans?
Absolutely, we have a neat concept we’d love to share with you on how we integrate these into your program. Ask us about it. Whether you’re looking to have a matching program, offer it as a voluntary plan or want a full pension style program we can source the best options for you and handle all of the governance associated with these types of programs.