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July 2011 Bulletin

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Dear sean,

 

We hope you enjoy the July 2011 edition of our bulletin! 

 
The Benefit Specialists Corp. Newsletter
     July 2011  
In This Issue
TBSC Tidbit- Mandatory Participation
A New Trend Emerges: "Part-Time Resources" for the SMB World
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TBSC Tidbit 

Mandatory Participation: What it Means and Why it is Important to Know About

 

By Jennifer Creighton, BA

The Benefit Specialists Corp.


When a group plan is designed, among the benefit choices and amounts, it is decided whether the group benefits are mandatory for all staff members or not.  However, the choice is determined by the insurance carrier and many stipulate that small-size companies have mandatory participation clauses in the group contract.  This should be discussed at the time of implementation.  Whatever the outcome, it is one of the most important things a Human Resources representative or Plan Administrator should know. 

 

Mandatory participation in a benefit plan means that at group plan inception all current employees are enrolled.  From this point on, all future employees must be enrolled.  Employees can only opt out of health and dental benefits, and this can only be done when proof of other coverage is provided.  The Life, Accidental Death and Dismemberment, and Disability benefits are mandatory.  Because all new employees must be enrolled, the Plan Administrator or Human Resources representative is responsible for their enrolment within the waiting period set up in the contract.  Forgetting to do so will cause the employee to be considered a late applicant, forcing them and their family to submit medical evidence, possibly running the risk of being declined altogether.  Furthermore, if an employee is completely missed, there is the danger of a serious medical condition or event befalling only to find out they are not covered for all benefits.

 

Though it can be considered tedious, having clear and up-to-date documentation comprised of employee enrolments, family changes, salary changes and terminations will save money, time and will protect you and your company.  Having an enrolment completed by the employee, even before the end of their probation or waiting period can safeguard against tardy submission. Sending an email to your carrier, informing them of an employee termination is another great way of keeping everything straight between the employees and the carrier. 

 

If you work for a large company, and have a non-mandatory or 85% participation clause, we still believe it is the best policy to enrol employees for coverage.  Illness and injury are unexpected facts of life and it is always better for your employees to be safe than sorry.  Having said that, if an employee is absolutely adamant that they do not want coverage we suggest that you have the employee sign and date a document that indicates that they have been offered benefits and have chosen to decline.  The Plan Administrator or Human Resources representative would also sign and date as witness.  If you need a template of this document, please contact TBSC.  This situation would only apply if the contract is set up with a non-mandatory or 85% participation clause. 

 

Please contact The Benefit Specialists if you are unsure of your current contract.  Knowing what type of participation your group contract states, whether new or in-force for a long time, will help to avoid potential conflicts with employees concerning their group benefits.

A New Trend Emerges: "Part-Time Resources" for the SMB World  

by Travis Lindbocker

 

Calgary's entrepreneurial landscape is anything but stagnant. The city - while still driven largely by it's beloved oil & gas industry - is giving birth to a new wave of youthful, ambitious entrepreneurs determined to prove why Calgary is the best place to call home in Canada. The folks at Calgary Economic Development (CED) describe our big, small town as being "known for its entrepreneurial business spirit, Calgary is the ideal climate for small business enterprises. Whether it's a dog grooming business or a welding service, Calgary has the right economic environment for small business owners" (CED 2010).

 

It's no secret we're conducting business in one of the best environments in North America. But like all good things in life, it won't last forever. Herein lies the oncoming challenge. While business seems to be on the up-swing at the moment, the speculated labour shortage that continues to make headlines will have numerous implications for our energy industry; and as a result, create a ripple effect that will undoubtedly touch everyone from our welders to our dog groomers. Finding the right talent will once again become an arduous, drawn-out mission.

 

Luckily for Calgary, there's a new trend emerging aiming to mitigate these so-called imminent challenges lingering on our horizon. Enter the entrepreneurs. From my relatively short time in Calgary, I've been lucky enough to cross paths with a number of professionals who're redefining the outsourced model and taking it to new heights. Their idea is simple and nothing new - identify the non-core functions within an organization and take it outside the business where it can be managed by a group of specialists who're more passionate and motivated to get the job done. While in the past we've witnessed this across just a few functions, today it may span the entire business. Business leaders are tapping into this network of small business specialists and slowly removing the various "hats" they've traditionally donned and reduce their dependencies on recruitment. The result: significantly more time to dedicate towards the strategic and growth-oriented activities within the business.

 

This emerging trend is what I like to call "Part Time Resources" because instead of full-time staff being dedicated to one job all the time - a costly proposition for small businesses - senior management can engage a network of specialists only when needed. A by-product of having a focused provider is the proactive perspective they can bring to the table from being outside the organization's walls. As the world continues to move towards a more service-oriented economy,

small business leaders will continue to benefit from the increase in service offerings providers offer to stay competitive in their markets.

I've been lucky enough to work in a business where this trend of forward-thinking and service delivery is at the forefront of an ever-evolving strategy. At the end of the day, we're saving our customers time, their sanity, and reducing the costs associated with non-strategic activities. A very valuable proposition for any business owner.

 

If you'd like to comment, criticize, or just have a general discussion about the current SMB IT environment, please don't hesitate to give me a call.

 

Travis Limbocker

Business Development Manager

Proactis Solutions

 
Sean Murray
The Benefit Specialists Corp.
sean.murray@beneco.ca
(403) 547-5236
 
The information contained in this bulletin is for general information purposes only. The articles published in this bulletin have been collected by The Benefit Specialists Corp. (TBSC) and we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability or availability with respect to the information, products, services, or related graphics contained.  Any reliance you place on such information is therefore strictly at your own risk.  In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits out of, or in connection with, the use of the information contained in this bulletin.  Through this bulletin you are able to link to other websites which are not under the control of TBSC.  We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
 
 
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