All posts by: Northern Financial Group

New to group benefits – Do you know what a group benefits loss ratio is? Currently have a plan – Do you know what your group’s loss ratio is? Do you know how your loss ratio determines your renewal premiums? Once...
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Our last post talked about defining plan objectives for what you want your employee benefits plan to accomplish. The next stage of building a group benefits plan is Plan Design. A few things to consider when designing your group benefits plan;...
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OBJECTIVES FOR BUILDING A GROUP BENEFITS PLAN Deciding to put a group benefits plan in place or revising your current plan should be accompanied by objectives you’d like to accomplish. The most popular reasons for putting a plan in place...
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You’ve likely heard about the recent reports of some Tim Hortons locations reducing employee benefits as a result of  the Ontario government increasing the minimum wage from $11.60 to $14 (effective January 1st 2018). Regardless of the end game, the minimum wage...
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Canadian Institute for Health Information (CIHI) released a report today outlining health spending in Canada. Drug costs are the fastest increasing according to the report – as shown in the graphic below:   Across Canada, healthcare spending will increase $242...
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