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Employee benefits planning continues to evolve in Canada–rising drug costs, health and wellness solutions, flexible benefits and disability management are all part of the landscape.
Protecting Your Employees With Group Benefits Safeguards Your Business.
The success of any business depends on its people–protect your greatest assets with a well-structured plan.
When a company is small to mid-sized, the insurance risks they experience are far less predictable than those of larger companies. Bilyk Financial has been pioneering healthcare purchasing coalitions nationwide for our clients. We're not just playing with plan designs, or large deductibles, or manipulating funding mechanisms, we have truly figured out a better way for our clients to purchase healthcare.
Our purchasing coalitions are designed to enable companies to essentially band together, using their collective size to buy health insurance together, mimicking the predictability and bulk buying power of the largest of companies.
Health insurance is the cornerstone of any company’s benefits
Bilyk Financial’s role is to act as an adjunct of your human resources team, bringing benefits knowledge, skills, and experience to your organization. We'll perform all the necessary plan management functions needed to ensure smooth and efficient delivery of benefits programs to participants while keeping an eye on long-term financial viability.
Account Management Services uses a dynamic process
- Setting objectives based upon your organization's corporate philosophy and long-term strategic plans
- Designing employee benefit plans that are competitive within your industry
- Evaluating insurance vendors, determining appropriate carriers, preparing requests for proposals, and negotiating renewals
- Implementing programs, providing employee communication materials, and providing continuing administrative and compliance support
- Analyzing claim data and providing monthly financial reports
Comprehensive Service Packages include a variety of day-to-day plan management and strategic planning initiatives
- Providing customized benefit manuals, dedicated private labeled benefits, and HR portals and financial reports
- Assisting with claims issues
- Additional services such as customized communications materials, end-of-year benefit statements, plan summaries, and other educational material
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Executive Benefits
Non-Qualified plans that are skillfully designed can help executives accumulate and preserve wealth. These plans are often effective ways to attract, retain, and reward key executives.
Higher salaries are not always the best (nor the only) answer to executive compensation and benefit problems.
Non-Qualified plans that are skillfully designed will help executives accumulate and preserve wealth. These plans are often highly effective ways to attract, retain, and reward key executives. Options include:
1. Deferred Compensation Plans
Assist executives to diversify investments, reduce current income taxes, and achieve tax-deferred investment growth. Plans can also address executive concerns about benefit repudiation, change in corporate control, and corporate insolvency.
2. Supplemental Retirement Plans
Provide executives with additional retirement benefits not subject to government-imposed limits on qualified retirement plans. These plans can restore executive retirement benefits to the same percentage of pay received by other employees, as well as address the special needs of mid-career hires.
3. Executive Life Insurance Plans
Deliver pre- and post-retirement life insurance benefits to executives that are typically lower in cost, but provide more comprehensive benefits than traditional group plans. These plans can provide special opportunities for tax-deferred cash accumulation, portability and corporate recovery of plan costs.
4. Executive Disability Plans
Help guarantee financial security for executives and their families if a career is cut short by a disabling injury or illness. These plans supplement long-term group disability plans, providing executives with higher benefit limits, more comprehensive features, and contractual guarantees. These plans can also continue to fund retirement benefits that are curtailed upon disability.
5. Executive Long-Term Care Insurance
Provides non-discriminatory benefits to key employees without imputed or regular income taxation. Employer premium payments are fully tax-deductible. Special plans are available to be fully paid up by normal retirement age, thus alleviating the need for premium payments during retirement.
Big or small, we think your business will, well, benefit from benefits.
Our unique approach allows us to meet you where you are on your well-being journey and evolve with you and your business.
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of employees will leave their job in the next 12 months because of lack of benefits
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of companies are looking to expand their benefit offering
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of employees say they would stay with a company because of benefits
Aligned Capital Partners Inc.
Aligned Capital Partners Inc. (“ACPI”) is a full-service investment dealer and a member of the Canadian Investor Protection Fund (“CIPF”) and the Canadian Investment Regulatory Organization(“CIRO”). Investment services are provided through Bilyk Financial Investments, an approved trade name of ACPI. Only investment-related products and services are offered through ACPI/Bilyk Financial Investments and covered by CIPF. Financial planning and insurance services are provided through Bilyk Financial. Bilyk Financial is an independent company separate and distinct from ACPI/Bilyk Financial Investments.
Disclaimer
This page may contain several strategies, not all of which will apply to your particular financial circumstances. The information on this page is not intended to provide legal, tax, or insurance advice. To ensure that your circumstances have been adequately considered and that action is taken based on the latest information available, you should obtain professional advice from a qualified tax, legal, insurance, and financial advisor before acting on any of the information on this site.
