Are you tired of paying high premiums for traditional benefits for your small business? Do you want more flexibility and control over your benefits design and spending, while saving thousands? Look no further than the BeniPlus Wallet!Here are 3 reasons why the BeniPlus Wallet is better than traditional benefits plans:

Lower Costs

With the BeniPlus Wallet, you can save money on healthcare expenses by using pre-tax dollars to pay for your eligible medical expenses. This could mean thousands in savings for you and your team. For example, with a BeniPlus Healthcare Spending Account (HSA) if you wanted to spend $100 on a visit to your dentist, your company could reimburse you for that entire cost with pre-tax dollars. Depending on your tax bracket, this could be $50 or more in savings on just one claim.

Plus, benefits are tax deductible for your business, meaning you save even more.

Quantify Your Benefits For Your Team Members

Unlike with traditional benefits, the BeniPlus Wallet allows you to truly quantify what your benefits offering is to your team members and prospects. With traditional group benefits, around 80% of your benefits are being used by just 20% of your employees. With the BeniPlus Wallet, you can provide your team with the equitable benefits they want and need.

Tailor-Made Solution

The BeniPlus Wallet allows you to choose what kind of coverage your team needs. Unlike traditional benefits plans, our plan is designed around your budget and unique needs. This means you never pay for coverage you don’t need or use, maximizing your benefits where you need them the most. Employers can choose between:

• Healthcare Spending Accounts (HSAs). These accounts cover medical expenses and are governed by Canada Revenue Agency which make them especially tax effective. They cover expenses like prescriptions, dental coverage, vision care and treatments with medical professionals like chiropractors and massage therapists.
• Wellness Spending Accounts (WSAs). These benefits cover extended wellness expenses including vitamins, gym memberships, sports equipment and registrations fees, and even professional development and family care. They are a great way to ensure your team are their happiest, healthiest, and most productive selves.
• Registered Retirement Savings Plans (RRSPs). With a BeniPlus sponsored RRSP your team members will be able ensure their financial wellness and start savings for the future. RRSPs are not only a great way to save for retirement but can also be used to save for your first house or cover educational expenses.
• Personal Insurance. The BeniPlus Wallet can also be used to purchase personal insurance products including traditional health insurance, Critical Illness Insurance, Disability Insurance, Life Insurance and Travel Insurance. These products are a great way to make sure your team is taken care of in case of an emergency.
• Charitable giving. BeniPlus also allows employers and employees to devote funds towards charitable organizations of their choice through Canada Helps. With the Charitable Giving option you give your team the ability to contribute to their favourite registered charity and receive a tax credit for your company.

With the BeniPlus Wallet you get the tailor-made benefits your team wants and needs, while benefiting from great tax savings. Are you ready to boost your team’s health and wellness this spring while saving more?For more information about the BeniPlus Wallet, schedule a call with one of our benefits specialists to learn more!