The BeniPlus Wallet
Introducing the BeniPlus Wallet – the group benefits solution for small businesses.
The innovative BeniPlus Wallet is a digital benefits platform that offers a pay-as-you-go approach to employee benefits. It has no costly monthly premiums or minimum headcount. Instead, businesses pay a simple 7.5% admin fee on approved claims. You never pay for unused benefits and if no claims are made you pay nothing.
With the BeniPlus Wallet, businesses determine a benefits budget for their employees and determine the benefits categories they would like to offer. Employees can then divide their benefits between their eligible categories and can choose how they spend their benefits in each of those categories. These categories include health/wellness spending accounts, RRSP, personal insurance, and charitable giving.
The BeniPlus Wallet offers significant tax savings. By using pre-tax dollars to pay for medical expenses, you and your team can save thousands. Plus, since your contributions are tax-deductible for your company, you can enjoy even more savings at tax time.
Here are just a few of the many benefits of using the BeniPlus Wallet.
- Tailor-made plans. Our system is tailor-made to fit your company’s and employee needs. You set a maximum benefits budget for your employees and determine which benefits categories your team can choose from.
- Everyone is eligible and no increased cost for older employees or those with health conditions. Unlike with traditional benefits, the BeniPlus Wallet has no increased costs depending on the age or health status of your team.
- A cap and control system where costs don’t go up. Our system allows you to cap the total cost of your plan each year. Since we are a spending account model your costs will never go up with usage or inflation.
- Quantify your benefits program as part of your compensation plan. The BeniPlus Wallet allows you to present actual dollars as part of your compensation package which staff can quantify and easily see the value as compared to a traditional benefits plan which are usually under-utilized and overpaid.
For more information about the BeniPlus Wallet and how it can help your small business, contact one of our benefits experts.