Our Services > Group Benefits (cont.)

Option: Self Insured Benefits Program
The objective of self insurance is to reduce costs to an employer for those benefits that have predictable experience. Extended health, dental and weekly indemnity are the three benefits that for the most part are predictable. Therefore self insurance is only used for these benefits with the other core benefits being provided on an insured basis.
 
Self insurance (also known as self funding and ASO) is becoming more popular to companies with more than 65 employees. Historically this area of benefits was the domain of large multi national employers. However with the evolution of Stop Loss
 
Insurance, smaller companies have been able to self insure while still maintaining protection against any catastrophic loss. Self funding is only used for health benefits, dental benefits and weekly indemnity.
 
Self insurance allows for the employer to set aside monthly contributions and accordingly have claims paid from this pool along with the administrative expenses. Our administration charges are dramatically lower than insurances companies as we charge these expenses on a paid basis rather than an incurred basis. We also do not factor in utilization factors, or trend factors that are in excess of the Stats Can figures. All in all this enables an employer to continue to provide employee benefits, while controlling the costing of the same.
 

Through A.M.Burgoyne Insurance Associates Inc. and our Third Party Administrator we are able to offer self insurance, plus pooled insured coverage without placing more risk onto the employer. We maintain relationships with all of the major insurance companies, and utilize them for the life, AD&D and other pooled benefits. We have an allegiance with BCE Emergis, whom provide the drug cards. The transition to this type of a plan is painless and seamless to the employees. You will receive access to on line reporting and administration tools.

View Online Administration Tool.



 
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