Group Health Benefits
Group Health Benefits
Healthy Teams, Thriving Workplaces Together
Broadmoor facilitates group health benefits services by conducting thorough consultations to understand clients’ needs and budget. Leveraging its expertise in Canadian tax laws, Broadmoor designs tailored benefits packages ensuring compliance and tax deductibility. By collaborating with insurers, it delivers comprehensive coverage while maximizing tax advantages for clients.
Adherence to Laws
Our services compliant with federal and provincial tax laws, including Insurance Companies Act, Income Tax Act, Canadian Council of Insurance Regulators (CCIR) Guidelines, Office of the Superintendent of Financial Institutions (OSFI) Guidelines, Canadian Life and Health Insurance Association (CLHIA).
What it includes
- Consultation: Broadmoor conducts consultations to understand clients’ needs and budget constraints.
- Designing Packages: Tailors benefits packages compliant with Canadian tax laws, ensuring deductibility where applicable.
- Insurer Collaboration: Collaborates with insurers to provide comprehensive coverage while maximizing tax advantages.
- Implementation: Assists in implementing benefits packages for employees, ensuring seamless coverage enrollment.
- Ongoing Support: Provides ongoing support and guidance to ensure compliance with Canadian tax laws and optimize benefits.
benefits to you
- Tax Deductibility: Benefits packages designed by Broadmoor are structured to be tax-deductible under Canadian tax laws, reducing overall tax liabilities for employers.
- Comprehensive Coverage: Employees receive comprehensive health benefits, promoting well-being and productivity, while complying with provincial and federal regulations.
- Employee Satisfaction: Access to quality health benefits enhances job satisfaction and retention, aligning with labor laws and fostering a positive workplace culture.
- Legal Compliance: Broadmoor ensures benefits packages adhere to Canadian labor and tax laws, mitigating legal risks for employers and promoting regulatory compliance.
- Cost-Effective Solutions: By optimizing tax advantages and negotiating with insurers, Broadmoor delivers cost-effective benefits solutions, supporting financial stability for employers.
- Expert Guidance: Clients benefit from Broadmoor’s expertise in Canadian tax laws, receiving tailored advice and support to navigate complex regulatory requirements effectively.
How we work
Understanding Client Needs
Consult with clients to grasp their requirements, goals, and preferences, ensuring alignment with their financial strategies.
Implementing Efficient Systems
Introduce easy-to-use tools and processes tailored to client needs, promoting accuracy, compliance, and streamlined operations.
Providing Feedback and Support
Offer continuous assistance, communication, and training to ensure clients effectively utilize systems and address any concerns.
What we will deliver to our clients
- Needs Assessment: Conduct thorough assessments to understand clients' specific requirements, considering factors like employee demographics, industry regulations, and budget constraints.
- Compliance Assurance: Ensure that group health benefits packages are designed and implemented in strict adherence to Canadian provincial and federal tax laws and relevant government acts.
- Tax Optimization: Strategically structure benefits packages to maximize tax deductions for employers while remaining compliant with tax regulations and government acts.
- Coverage Customization: Customize benefits packages to meet the unique needs of clients' employees, ensuring comprehensive coverage while adhering to regulatory standards.
- Legal Documentation: Prepare and maintain all necessary legal documents and contracts related to group health benefits, ensuring compliance with government acts and regulations.
- Employee Education: Provide comprehensive education and training sessions to employees to help them understand their benefits and their tax implications under Canadian law.
- Claims Management: Offer efficient claims processing and management services to ensure timely reimbursement for employees while maintaining compliance with regulatory requirements.
- Reporting and Filing: Prepare and submit all required reports and filings to government agencies, such as the Canada Revenue Agency (CRA), in accordance with regulatory requirements.
- Audit Support: Provide assistance and support to clients during audits by government agencies, ensuring compliance with tax laws and government acts.
- Cost Control Strategies: Develop cost management strategies to help clients control expenses associated with group health benefits while maximizing tax advantages.
- Conflict Resolution: Offer mediation and resolution services for any disputes related to benefits coverage, ensuring compliance with employment and labor laws.
- Employee Communication: Maintain regular communication with employees to keep them informed about their benefits and any changes in tax laws or regulations.
