Quote:
Originally Posted by Ace
Be aware, from what I've examined, providing flex benefits (such as a health spending account), costs you dollar for dollar what the employee spends. I can't remember if it's even higher in that it costs you what the employee is entitled to spend. Either way it's basically just giving cash to the employee (tax free for them), there is no financial benefit to the company to pursue this option, other than the non-financial benefits of making employees happy. A more traditional plan generates some savings because the insurance companies evaluate the fact that many employees will not use their benefits. Basically a flex plan, I don't believe, will be cheaper by shopping around.
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That is fine. Like I said Manulife currently has us bent over and are not even generous enough to provide lube. Just rough numbers not exact but company pays 50 % of bennies so roughly we are paying a total of 800 per employee a month (400 work pay 400 employee) now as an employee I can go out and get almost the exact same plan from manulife for a total of 300 a month on my own. There has to be a better solution then what we currently have.