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Risk Category:

Financial Risk Assessment

Financial1. How confident are you in your current funding?

Unsure

We know of the other options but are not sure what makes sense for our organization

We compare our funding option to the others on an annual basis. We are confident that we are in the correct method.

Target Loss Ratio (TLR)2. How well do you understand what this means?

Not confident

Somewhat confident

Extremely confident

Credibility3. How well do you understand what this means?

Not confident

Somewhat confident

Extremely confident

Taxability4. How well do you understand what this means with respect to premiums?

Not confident

Somewhat confident

Extremely confident

Stop Loss5. How well do you understand what this means?

Not confident

Somewhat confident

Extremely confident

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Risk Category:

Plan Design Risk Assessment

Effective Plan design1. How comfortable are you with your current plan design?

Somewhat comfortable

Comfortable

Know the plan inside and out

Benchmarking2. How does your current plan stack up to other companies in our industry?

Never compared our plan to other companies in our industry

We looked at how we stacked up but never thought through the plan

Yes, periodically we work with our consultant and run benchmark reports to ensure we stay competitive in our industry and help retain employees

Non-Evidence Maximums (NEM)3. Are your NEM's as high as they should be?

Unsure

We have reviewed it, but did not increase it

We review this every year with our consultant

Discrimination (reverse)4. Does your current plan cover all employees equally even high income earners?

Unsure

No it does not

Yes it does, we have ensured that our plan covers all employees equally

Financial5. How do you control your current cost?

Unsure

We have cost containment measures in place, but are unsure if they are working

We have cost containment measures in place and have looked at the utilization reports and determined that they are utilized and working

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Risk Category:

Administrative Risk

Compliance1. How comfortable are you with your plan being compliant with the carrier?

I think we are compliant, but should look at the contracts again

We are not compliant, but are working towards being compliant

We are 100% compliant

Corporate Liability Insurance2. Does your Commercial insurance contract have the Benefits Administration Rider?

Unsure

We know what it is but it is not added

Yes it is added

Legal Risk3. Currently what is your process with terminated employees?

No current process

We have a process

We have a process that has been reviewed by an HR professional or Legal community

Legal Risk and Financial Risk4. What is your policy on Short term disability?

We do not have a policy

We have an insured STD policy

We have a self funded STD policy that is adjudicated through a Disability Management Company

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Risk Category:

Employee Education & Communication

Employee Education1. How comfortable are you with employees understanding of your
current program?

Our employee have the booklets and can learn on their own.

We have done an education session in the past (not annually)

We conduct annual employee education sessions and employee benefits info boards

Total Compensation
2. Have you ever completed a Cost of Compensation report for your employees?

Never / Unsure

Did them 3-5 years ago

Did it 1-2 years ago

Satisfaction
3. When was the last time you completed an employee survey on plan satisfaction?

Never

1-2 Years ago

3-5 Years ago

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Risk Category:

Plan Wellness Risk

EAP1. Do you have an EAP program in place?

No

Yes, but do not promote it to our staff

Yes, and we promote it to our staff

HCSA/WSA2. Do you offer an HCSA or WSA?

I do not know what they are

No

Yes, and we educate our staff on how it works

Virtual Healthcare3. Do you have a Virtual Healthcare program?

No

Yes, but do not promote it to our staff

Yes, and we promote it to our staff.

Mental health Program4. Do you have a program that focuses on employee mental health?

No

Yes, but do not promote it to our staff

Yes, and we promote it to our staff

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Risk Category:

Current Consultant Meetings

Turnaround time1. What is the turnaround time on emails to
your consultant?

Longer than 48 hours

24-48 hours

Within 24 hours

Claims Experience Meeting2. How often do you meet with your consultant to go over your claims experience?

Never

Once a Year

Quarterly

Overall Satisfaction3. Do you have a program that focuses on employee mental health?

Yes

No

Yes, but I don't know much about it

Previous VIEW RESULTS

Total Percentage Score: 0%

Risk Category: Unknown

Your Insurance
Health Check-Up

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take the next step towards comprehensive coverage.

Risk Category: Please answer all questions.

Critical Risk Zone Alert

Your group benefits plan is flashing red, signalling a critical risk exposure. With nearly a third of Canadian plans including virtual healthcare services, your lack of competitive benefits could be leading to talent attrition and unsustainable hiring costs. Immediate action is crucial. Schedule your full assessment analysis now to gain detailed insights and start charting a course toward stability and improved retention rates. Let's address the urgent gaps and pivot towards a sustainable benefits strategy that aligns with industry benchmarks and inflation pressures.

Caution: High-Risk Territory

You're on the brink of the high-risk zone, potentially facing significant financial repercussions from workforce instability or benefits mismanagement. Our comprehensive review can pinpoint critical vulnerabilities and help draft a proactive response plan. With plan sponsors benchmarking every 2.1 years on average, it's time to ensure your benefits plan remains competitive. Act now to transform risk into opportunity and steer your benefits plan towards a secure, value-driven future.

Crossroads to Improvement

Your group benefits plan is flashing red, signalling a critical risk exposure. With nearly a third of Canadian plans including virtual healthcare services, your lack of competitive benefits could be leading to talent attrition and unsustainable hiring costs. Immediate action is crucial. Schedule your full assessment analysis now to gain detailed insights and start charting a course toward stability and improved retention rates. Let's address the urgent gaps and pivot towards a sustainable benefits strategy that aligns with industry benchmarks and inflation pressures.

Advanced Strategic Position

Congratulations, your results demonstrate a robust benefits plan. However, even the best plans can overlook nuances that yield significant gains. Engage with us in a thorough assessment session to unveil the subtle adjustments that could boost employee retention, satisfaction, and productivity even further. With most plan sponsors satisfied with specialty drug claims handling, ensure your plan is among the best for holistic employee wellness.

Book a one-on-one call with Trevor

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Welcome to Campbell & Co. Insurance Consultants

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Your InsuranceHealth Check-Up

Explore the diagnosis of your insurance knowledge and take the next step towards comprehensive coverage.

Your Insurance
Health Check-Up

Explore the diagnosis of your insurance knowledge and
take the next step towards comprehensive coverage.