Selectpath - Benefits & Financial
Introducing Selectpath Benefits & Financial – Employee Benefit Specialists
In the highly competitive restaurant business, from service and atmosphere to product and people, creating the right atmosphere and experience is what differentiates
you from your competition. R.I.B.A. has assisted you with so many of these aspects and we are here to assist you with your people.
For over 15 years, Selectpath Benefits & Financial have provided insurance coverage to over 900 employers and their employees. As one of the largest insurance brokerages in Ontario, Selectpath has leveraged their size to deliver employee benefits with highly discounted fees. Through our Beneflex® buying group, R.I.B.A. members will receive administration costs usually reserved for large employers.
Collective Purchasing Plans (buying groups) are a relatively new concept in the employee benefit marketplace, although they have existed in many other industries for decades. The concept is simple, harness the collective purchasing power of a group of policyholders while maintaining complete independence of the members.….exactly what R.I.B.A. has been doing for over 15 years. As pioneers of this concept, Selectpath has been driving out savings for our clients for over a decade. Although the concept is simple, less than half a dozen of these arrangements exist in the Ontario marketplace.
How do Collective Purchasing Plans generate cost reductions?
In a word….VOLUME! With over $40 million of premium in our buying groups, insurers compete for your business inside a much larger policy.
Critical Mass – underwriters put aside their drive for profits per account to turn their sights on lower margins but higher revenue growth and retention rates.
Reduced retention charges (administration rates). Lower cost per claim creates higher savings.
Our Beneflex® buying group has its administrative expenses based on the overall volume of all companies participating in the plan, therefore providing economies of scale and increasing your purchasing power.
We have your key employees covered – Owners/Managers/Full Time Employees. Benefits offered within our Employee Benefits Programs Include:
Life Insurance
Accidental Death & Dismemberment
Disability Protection
Critical Illness Protection
Pay Direct Drug Card
Semi-Private Hospital Coverage
Paramedical Coverage: Massage, Chiropractor, Physiotherapy, etc.
Vision Care Coverage
Orthotics
Emergency Out of Country Travel Insurance
Routine and Basic Dental Coverage
Orthodontics
Major Dental – crowns, bridges, denture
Employee Benefit are a cost effective form of compensation that employees desire. They also save you money as an operator, here’s how.
Every $1 of compensation draws payroll tax: Income Tax, Employment Insurance, WSIB, Health Tax while employees pay Income Tax, Employment Insurance, etc. That $1 of compensation costs you $1.30, while the employee takes home less than $0.70! Over $0.60 goes to the government, there must be a better way to compensate your employees.
Every $1 in a health and dental program is an expense to the business and tax free to the employee. It is way more cost effective to turn medical expenses into business expenses and stop paying with after tax dollars!
Selectpath’s Offer to Employers with Current Benefit Programs
With our significant pricing advantage, Selectpath is able to offer all R.I.B.A. members with benefits currently in place a 12% discount off their in force rates by joining one of our R.I.B.A. programs.
*This is open to all employers with two or more employees without recurring catastrophic claims.
Selectpath’s Offer to Employers without Current Benefit Coverage
As long as you have two employees or more, we can offer you a benefit package customized to your employees. You will receive deep discounts due to our volumes with enhanced benefit coverage options.
For more details on your employee benefits options, visit Selectpath Benefits
Selectpath Benefits & Financial – Insurance Specialists
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