The Beneplan Co-operative
- A Co-operative allows for members to be shareholders in the structure. It also allows patronage dividends to be distributed to each member, which works in accordance with the premium refunds which Beneplan issues.
- A Co-operative provides for better governance: a small board of directors can be elected, who can advise on behalf of all members and make decisions to move the interests of the buying group forward.
- This allows you to nominate your company to be on the board of directors and have a bigger say in how the Beneplan Co-operative is managed.
- Beneplan Inc is a separate for-profit entity, privately owned, which manages the Beneplan Co-operative which is privately owned by member employers.
- Beneplan Inc continues to earn an administration fee for managing The Beneplan Co-operative.
- This puts more transparency and direction in the hands of member employers, so it puts Beneplan Inc under greater scrutiny.