All posts by: Northern Financial Group

It will come at no surprise that this article will ultimately recommend Northern Financial Group as your group benefits representative/broker. Nonetheless, the purpose of the article is to highlight what you should expect from your representative and discuss topics to...
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There are clear advantages of Group Health Benefits Pooling. Insurance pooling is a practice wherein a group of companies join together to secure better insurance rates and coverage plans by virtue of their increased buying power as a block. Does...
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We all like deals or discounts – whether it is for products/services essential for daily business operations or non-essential items such as the newest iPhone. That being said, when it comes to your group benefits plan, deep discounts may be...
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Searching for Quotes and Currently Have a Plan – Be Prepared to Share Plan Information We receive a lot of inquiries from business owners looking to change their group benefits provider. In most cases, the quoting process starts with the...
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Building a Group Benefits Plan for Your Business – Why you should consider your group benefit contract as a long-term commitment (although it really isn’t).   The majority of group benefit plans can be cancelled with a 30-days notice provided...
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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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