Advantages of the The Architype Benefits Health and Dental Plan
Designed for You instead of them
- Uncontrolled price increases are a thing of the past. No more ‘surprise’ price increases on health & dental ( where most increases occur)
- More money stays in the plan to work for you & your employees, because less is going to insurance company overhead
- At the end of the year, what’s unspent is still yours, so you don’t just keep paying if you don’t use it
- Unused funds can be rolled over to your employee’s RSP account. So you get a retirement plan as well at no extra cost.
- Unspent money in your company account means your price may actually go down in successive years. And the employee deductions go down too – employees like that.
- Refund of Unspent Premium - If an employee leaves, one option gives them their unspent money back.
- Reinforce employee loyalty with vesting periods for ownership of the unspent balance.
Caution: Possible funding shortage for heavy prescription drug users, but that’s balanced off by lower costs for everyone else. And the Stop Loss plan provides coverage to offset that risk, as does the Fair Pharmacare – have you registered by the way?
Many large companies have been doing this, or a version of it, for years. Governments use this type of plan too. The insurance companies have it, but they don’t want you to know about it – they want to make more money selling you what they always sold you. They want to sell you a plan that’s profitable for them.
In the US, this type of plan is gaining favour all over as a means to reduce costs by making your money work for you in a more flexible and efficient manner.