Pricing Expertise
Plan Design
Independent Market
Review
Technology
Communication
Research
International
Benefits
CADA
Our goal in managing your benefits plan is to ensure that you receive fair and competitive pricing for your benefits, within the appropriate financial arrangement for your company’s size and circumstances.
Our extensive knowledge of group insurance pricing (the method employed by insurers to establish rates) allows us to develop objective and independent analysis tools. This software is used to evaluate the reasonableness of both experience rated and pooled benefits rates to determine if it is necessary to send your confidential salary information to market.
These tools, along with our established reputation with insurers and expertise in reviewing claims and demographic information, allow us to negotiate from a position of strength on your behalf.
All effective benefits plan require appropriate financial arrangements
to support them. Today’s financial arrangement opportunities are
changing. Some include opportunities to access significant amounts of
money, yet require the policyholder to bear certain risks. OMG Benefits
Consulting has extensive understanding of these arrangements. Our unique
research and financial models help determine which arrangements can provide
the best fit for your company.
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The best benefit plan design for your company is one that matches your organizational goals and objectives.
At OMG Benefits Consulting, we draw on experience with our vast clientele (500+ clients) across a wide range of industries and size of companies to provide you with the best advice for your unique situation.
Whether you are dealing with executive benefits, tax considerations and
compliance, cost sharing, claims management or the impact of the demographic
make-up of your group, we can help you build a program that will be of
value to your company and employees.
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Independent Market
Review
From time to time it is appropriate to survey the market of insurers and other service providers for quotations.
OMG Benefits Consulting offers a comprehensive, independent and objective
process to request and analyze proposals. We believe in fully disclosing
all relevant information to ensure the results of the survey are credible.
A jointly established selection criteria measured against potential providers,
ensures a consistent and complete review of each proposal. Rates are back-tested
to demonstrate the projected sustainability to the client and ensure complete
knowledge prior to making a decision. A report is then produced to ensure
contractual comparability, and rate guarantees are negotiated where possible.
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We view technology as an integral component in the benefits plan management process.
One of the ways we add value through technology is the development of proprietary programs that allow us to manage client information, analyze data and model outcomes, and help clients administer and communicate their benefits plan.
Our Benefits ManagerTM database allows us to centrally manage client information (claims, plan design, employee data) for our 500+ benefits clients. It accommodates statistical analysis for comparative purposes while complying with privacy legislation.
Our Benefits ReporterTM is a secure online program that assists in the administration and communication of benefit plans. It allows you to produce payroll deduction reports, customized benefit summaries for employees, taxable benefit reports, as well as a total compensation report detailing the value of an employee’s remuneration package (inclusive of employee contributions to government benefits and other company paid items).
We also have a variety of software programs that perform analysis and
modelling to help us manage your plan, provide data for decision-making
and negotiate with service providers.
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OMG Benefits Consulting is committed to providing all the information necessary to help you effectively manage your benefits program.
Our quarterly claims experience reports provide a financial update on your plan throughout the year. It can also be used to forecast renewal pricing months ahead of when the insurer provides these figures.
Employee meetings can be arranged at your discretion to re-communicate benefits, implement plan or pricing changes, or to introduce a new service provider.
As many service providers offer a variety of convenient mediums (1-800, online) to provide you and your employees with information, we strive to ensure you, the plan sponsor, are aware of these venues and how to access them.
Our proprietary Benefits ReporterTM technology also provides you with
an effective communication tool. Independent of any service provider,
it produces customized benefits statements as well as total compensation
reports.
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One of our core services is to help you make informed decisions about your benefits plan.
In line with this objective, we have developed an archive of research material on benefits related issues, such as:
- Private health services plans (Cost Plus)
- Optimizing disability coverage
- Government benefits
- Labour standards
- Human rights legislation
- Benefits policy development
Our research allows you to make informed decisions in a fraction of the
time required without access to such materials.
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Through strategic partnershis with both the United States and international
benefits consultants, we can facilitate the provision, communication and
administration of benefits for employees abroad.
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OMG Benefits Consulting Inc. has been a recognized broker for the Benfits
370 program offered to CADA members since the introduction of independent
benefits consultants to this plan.
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