EMPLOYEE BENEFITS

Build a flexible group benefits program for your business

What are flexible group benefit plans?

Every workplace has its own unique challenges. Flexible benefit plans give employers a customized employee benefits package that works for their staff and their budget.

The team at Timber has access to a wider variety of Canadian benefit options than our competitors. With over 20 years of experience working with clients in almost every industry, we’re up for any challenge.

Employee Benefit Packages for Alberta and BC Business


We‘ve sourced some of the best employee benefit solutions in the Canadian market and offer them to our Alberta and BC-based clients.

We start by finding out your goals, staff needs and budget, and then recommend a customized benefit plan to suit your organization.

Our flexible employee benefit plans include a wide variety of group benefits – we go way beyond just your core drug plan or dental coverage.

Wondering how to afford additional benefits?

Because we’re really good at saving our client’s money on their core benefits, we can re-allocate your savings to additional benefits that support a culture of employee wellness and mental well-being. Or, some clients take their savings and improve their bottom line.

Save Money On Your Employee Benefits

What is ASO or Self-Insurance Plans (Administrative Services Only)?

Insurance companies price a benefits plan based on their ‘best guess’. This results in more premiums being paid into a plan than paid out to employees as benefits.

This is profitable for insurance companies but comes at a steep cost for small businesses.

Administrative Services Only is like a ‘no-waste’ model. Businesses only pay for coverage that is needed and used by employees. ASO is administered by an efficient digital tool, using your computer or mobile app.

By putting insurance only in places where we really need it, we can often save employers tens of thousands of dollars in premiums. Employers will redirect these savings into additional health and wellness benefits or reinvest into their companies.

We can often save employers tens of thousands of dollars in premiums.

OUR BENEFITS INCLUDE

What are modern benefits and how are they an effective tool for businesses?

We’re modernizing employee benefits! Traditional employee benefits have not kept pace with the changing needs of our busy lives. They help your staff when they are sick, but don’t help keep them healthy or prevent long-term chronic issues.

Timber Benefits provides modern group benefits to create a positive impact for workplaces. Our benefits focus on the mental and physical well-being of your employees.

The Perks of a Flexible Benefits Plan from Timber:

  • Higher participation rates from staff 
  • Lower-cost, budget-friendly options 
  • Total customization of your benefit package
  • Unique benefits help with staff retention and recruitment efforts 
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You've Asked, We've Answered: FAQ'S

Why offer employee benefits?

Employers care about the health of their staff. They know that healthier employees are more productive, efficient and able to make a bigger contribution to the team.

Employers look at benefits as another piece of the compensation equation. It gives them the competitive advantage over other employers, and if structured right, a lot of these benefits can be offered tax free.

How do I make employee benefits more affordable?

There are lots of things we can do to help.

The most important thing is to find an advisor who you trust and who works hard for you.

The first thing we do is evaluate your cost model by taking a look at what premiums were paid into the plan, and what was paid out as claims.

We then come up with a bunch of recommendations to trim costs where we can and make it more affordable.

Check out our Top Ways to Reduce Your Employee Benefits Cost blog article.

 

Is my employee benefits plan tax deductible?

Yes, your employee benefit plan is tax deductible.

What employee benefits are tax deductible?

Typically, life and disability insurances, critical illness insurance and wellness spending accounts are considered taxable benefits by the CRA.

What’s the difference between a Health Spending Account (HSA) and a Wellness Spending Account (WSA)?

A Health Spending Account covers health expenses. Those are purchases deemed medically necessary by the CRA, and includes things like ambulance rides, hearing aids, attendant care, bathroom aids.

It’s important to check the CRA list and understand which healthcare expense requires a prescription by a doctor.

Examples of eligible expenses for a Wellness Spending Account include anything that is considered a health or wellness-related item. Things like memberships to fitness clubs, sports equipment, relationship counselling, gym membership or a new pair of running shoes.

HSA’s are non-taxable benefits where WSA’s are fully taxable by the government.

How much do employee benefits cost?

This is entirely up to each employer. We can build a simple plan with just some coverage for medical expenses, to a robust package that includes support from medical practitioners, groups savings plan, telemedicine or even a travel saving plan!

A truly flexible benefits plan will include a variety of core health benefits, insurance and wellness-related benefits.

How many employees do I need to be able to offer a group benefit plan?

Five is the magic number to get benefits without having to answer a lot of medical questions. We have lots of options to customize a plan that works for your business, no matter the size.