Group Benefits
While implementation of these plans is critically important to retaining employees, it is also beneficial to the Company if employee compensation improvements are provided in the form of non-wage benefits as opposed to salary or bonus increase. Group insurance costs paid by the Company are a tax deductible business expense and the payments do not attract CPP, EI and WSIB expense as salary increases would.
Transitions Wealth Strategies guides and educates the small business owner as to what group insurance options are out there. We present various plan options and help the owners understand the cost benefit relationship of each. Once a plan is selected, Transitions Wealth Strategies follows through with the employee enrolment and plan implementation.
As opposed to other group insurance providers, we integrate these plans with the overall Company "Business Transitions Plan". We ensure that the costs fit with the overall business plan. We work with the owner to ensure employees are fully aware that the set up of an employee health benefits plan is a significant compensation improvement.