Health + Wellness + Lifestyle Flex Benefits

Small Businesses with Employees

PROGRAM OVERVIEW

Is your employee benefits coverage struggling to meet the needs of a diverse and modern workforce?

Are you unable to find a balance between offering competitive employee benefits and containing costs?

Would you like your benefits plan to promote wellness, productivity, and social engagement?

Did you know...?

  • 44% of employees have experienced a mental health issue

  • 1 in 5 employees take disability leave due to psychological health issues

  • 7 in 10 employees are affected by stress

  • 1 in 4 employees quit their job due to stress

  • On average, it costs 33% of an employee's annual salary to replace them

  • For every $1 spent on employee wellness, there is an average ROI of $5.81

  • 80% of workers want more flexible benefits

  • 67% of workers prefer a benefits plan over a $5,000 salary increase

The Health + Wellness + Lifestyle Flex Benefits program introduces a modern benefits experience, empowering individual employees to personalize their own workplace plan and choose the benefits that reflect how they live life.

This program provides the following benefits:

  • Access a comprehensive, flexible, and competitive, yet affordable, benefits plan created for small companies

    • Available to startups with as few as 3 employees to established corporations with 500+ staff

    • Designed to grow with your organization
  • Empower your staff with personalizable benefits as diverse and unique as your workforce

  • Attract and retain key talented performers by promoting your company’s culture with modern, flexible, and creative benefits that reflect your organization’s values

  • Increase employee productivity and engagement with benefits that reduce the high costs of mental health issues, chronic disease, absenteeism, presenteeism, disability and drug claims, and staff turnover

  • Save money with a plan design that reduces benefits costs and eliminates renewal increases for true cost containment

  • Save time and reduce administrative burden with a completely digital experience, including quick and easy setup, self-serve enrollment, automated reimbursement, and anytime access

  • Reduce lost productivity from medical clinic wait times with virtual healthcare solutions

SUCCESS STORIES

 

Zeneh - 3 Employees

Zeneh is the founder of a startup non-profit organization that aims to help young women from shelters, empowering them with the life skills and entrepreneurial ability to carve out new paths in life.

With a tight budget, Zeneh had a hard time keeping talented staff members due to the limited salaries she could offer. However, Zeneh learned how the Health + Wellness + Lifestyle Flex Benefits program could offer an attractive, yet affordable, benefits plan for herself and her two staff members.

Her staff were more engaged than ever thanks to a combination of traditional and unique, modern benefits, and no longer had any reason to leave.

Trevor - 14 Employees

Trevor is the owner of a small tech company, specializing in wearable technology for senior home healthcare and monitoring. After several years, Trevor has developed an amazing team of innovative and dedicated employees, so he knows he needs to stay competitive with a company benefits plan.

However, Trevor has noticed several issues with his current benefits plan. Many of the employees have been making high expense claims in certain areas, causing Trevor's costs to go up every year. At the same time, Trevor noticed a couple of his staff members have been calling in sick more often but haven't been making much use of their benefits coverage. After talking with them, Trevor learned one has been struggling with fertility challenges, and the other has difficulties affording cannabis for her fibromyalgia symptoms.

Instead of cutting back the benefits, Trevor enrolled the company into the Health + Wellness + Lifestyle Flex Benefits program. With the new program, each employee could personalize their own benefits plan, with many new specialties to choose from, including life coaching, herbal teas, fertility treatments, and cannabis for both medical and wellness uses.

Trevor loved the fact that the program offered true cost containment, with a plan design that eliminated annual cost increases so it could remain affordable. Trevor also appreciated that the plan was flexible enough to easily grow and include more employees as his organization expanded. But best of all, his staff was happier, healthier, and more engaged than before!

Mahari - 500+ Employees

Mahari is the Chief Human Resources Officer (CHRO) of a national cannabis-infused products company, with offices and distribution centres in several major cities across Canada.

After a thorough analysis, Mahari found that their company's current benefits plan did little to lessen the high costs of chronic health conditions and missed work days that were common with their older staff, coinciding with a high incidence of disability and expensive drug claims. At the same time, the company had a hard time attracting and retaining younger workers.

Instead of a typical one-size-fits-all approach to benefits that didn't work for many staff members, Mahari learned how the Health + Wellness + Lifestyle Flex Benefits program could meet the needs of a diverse and modern workforce, with benefits options that each employee could individually customize for their unique situation.

 

Despite the size and complexity of her company, Mahari was surprised how quickly and easily she could set up and manage the new benefits program. With a completely digital experience, very little resources were needed to administer the program, many processes were automated, and the company reduced their carbon footprint by eliminating physical paperwork.

Older workers used the new holistic wellness and education coverage options, along with traditional drug and dental coverage, to improve their health and productivity. Younger workers were ecstatic about the new coverage options for fitness, pet expenses, vacation funds, and social impact initiatives.

After the first year under the new benefits plan, there was a 35% reduction in sick days, 61% increase in productivity, 11% higher revenue per employee, and 73% reduction in staff turnover.

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SAMPLE COVERAGE CATEGORIES

Optional Company-Funded Add-Ons

  • Life Insurance

    • Provides tax-free funding to an employee's family to safeguard against financial hardship

  • Cancer and Illness Funding Program

    • Provides tax-free, flexible, lump-sum funding for expenses that the Canadian public healthcare system does not cover

    • Protects an employee's life savings, safeguards against medical bankruptcy, and provides options

    • Various critical illness insurance coverage options available

  • Income Continuation Program

    • Provides continuous monthly funding to cover an employee's lost income, recovery expenses, mortgage payments, ongoing bills, and other living expenses, until they are well enough to return to work

    • Protects an employee's life savings and safeguards against medical bankruptcy

    • Various short- and long-term disability insurance coverage options available

  • Employee and Family Assistance Program (EFAP)

    • Provides employees and their families with confidential, short-term support with issues relating to work, health, and life

    • Sample services include counselling, health coaching, legal support, and financial planning

  • Best Doctors Program

    • Provides complimentary access to a network of the top medical specialists and consultants in the world who will provide employees and their families with an in-depth analysis, second opinion, and a personalized treatment plan for their illness or condition

  • Other Programs

    • Our Funding Strategies Consultants will work with you to customize other add-ons as needed

Optional Employee-Funded Add-Ons

  • High Expense Claims

    • While company-funded benefits are great, they rarely provide enough coverage for all of an employee's specific needs

    • We have numerous optional add-on programs that can provide peace-of-mind coverage for their high expense claims

    • Employees can contact a Funding Strategies Consultant to customize a plan for themselves and their families

PROGRAM DETAILS

Program Coverage

  • Coverage Amounts

    • You choose the overall list of coverage categories to be included in the company plan

    • You choose the flex credit limits to be allocated to each employee

    • Each employee individually selects the available coverage categories to be included in their personal plan

    • Each employee individually selects the coverage amounts to be allocated to each category, up to their flex credit limit

  • Coverage Eligibility

    • Covers an employee, their spouse/common-law partner, children, and other dependents living in their home

    • Covers dependent parents and other dependent relatives living in a care centre in Canada

    • Other dependents include parents, siblings, and other relatives, related by blood or marriage, who cannot care for themselves and rely on your employee for financial support (some restrictions apply)

  • Pre-Existing Conditions

    • Eligible for coverage under most categories

    • Exceptions: the Cancer and Illness Funding and Income Continuation programs do not cover pre-existing conditions

    • Employees can contact a Funding Strategies Consultant to explore alternative coverage options for these exceptions

Benefits Program Fees

  • Starter Plan

    • Ideal for companies who want to add some flex options to their existing benefits plan

    • Platform subscription fee: $10/month/employee

    • Benefits plan funding per employee: at your discretion

    • Includes a health spending account for traditional medical, extended healthcare, and limited wellness expenses

    • Includes an allowance spending account for holistic wellness and lifestyle expenses

  • Complete Plan

    • Ideal for companies who want to maximize their return from a comprehensive and flexible benefits plan

    • Platform subscription fee: $20/month/employee

    • Benefits plan funding per employee: at your discretion

    • Includes a health spending account for traditional medical, extended healthcare, and limited wellness expenses

    • Includes an allowance spending account for holistic wellness and lifestyle expenses

    • Complete Plan only: Includes on-demand (24/7) access to healthcare professionals through the benefits platform app

    • Complete Plan only: Includes expanded and customizable prescription drug coverage limits

    • Complete Plan only: Includes expanded and customizable dental coverage limits

    • Complete Plan only: Includes travel insurance coverage

 

 

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Connect@LivingWellSolutions.ca

+1.604.726.9727

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