Lowest cost group benefit provider in Ontario

The Beneplan Co-operative is the lowest cost group benefit provider in Ontario and Canada for groups with less than 500 lives.

Mark-up to administer benefits is lowest

For groups with under 50 lives, the all-inclusive administration fee is 15%. This includes:• 8% Admin Fee to Beneplan• 5.5% Fee to the underwriting insurance company to process claims• 2% Federal premium taxFor groups with 50 or more lives, the all-inclusive administration fee is 12%. This includes:• 5.5% Admin Fee to Beneplan• 5% Fee to the underwriting insurance company to process claims• 2% Federal premium taxPlus, there is the opportunity for a refund on your health, dental and life insurance premiums if your employees spend less than claims plus fees.

Lowest stop-loss rates in the country

Our rates for stop-loss insurance are $1.97 per single per month and $4.97 per family per month for groups with drug-caps. For groups with unlimited drug plans, the rates are higher by a few dollars, depending upon the risk. These rates are equivalent to what an enterprise-sized firm would pay, yet they are available to small & medium businesses through Beneplan.A Non-Profit Insurance Co-operativeThe Beneplan Co-operative is a fully non-profit entity. Aside from the admin fee which Beneplan Inc makes to run the co-operative, 100% of the surplus which is generated by the Co-operative is fully refunded back to members. A reserve must be set aside from the surplus, which is mandated at 10% of the surplus to a max of 5% of last year’s claims.Call 1.800.387.1670 or click here to find out how you can join the Beneplan Co-operative.