In keeping with our commitment to transparency, Beneplan is pleased to announce the release of our 2024 annual report.

The total amount of dividends payable to 219 member-owners due to benefit plan surpluses accrued in calendar year 2024 is $2.12 million. This represents excess profit typically kept by insurance carriers that will instead be refunded appropriately back to member-owners. To date, Beneplan's distinctive refund model has returned more than $33.5 million in cumulative dividends to its members.

The annual report provides insights into this significant achievement, outlines future implications and highlights key trends observed in the Canadian health benefits sector. Beneplan continues to work in partnership with external advisors to grow the membership of the Co-operative. Advisors in the field continue to see aggressive quoting in the marketplace from competitors to draw away existing members. These quoting tactics include offering unsustainable low entry rates followed by stark increases upon plan renewal.

If you are an existing Beneplan Co-operative member wishing to determine your 2024 dividend standing, go to the appendix in the annual report and look up your company's policy number.

If you're not a Beneplan Co-operative member, please contact your advisor/broker for more details on how to become a member.

Download and read the full report here.