Investing in Employee Group Benefits

Employee benefits represent a significant investment for municipalities. Yet for many organizations, the benefit plan tends to get the most attention at one particular time of year: renewal.

What is the increase? Why did costs go up? Is it time to go to market?

All important questions. But a good benefits conversation should go well beyond the annual renewal. It is important to understand what is happening within the plan, what is driving costs, and what opportunities there may be to manage the plan effectively over the longer term.

What is actually driving our costs?

Prescription drug utilization, disability experience, paramedical claims, dental utilization and demographic changes can all influence plan costs. Understanding where the pressure is coming from is an important first step in identifying opportunities to manage costs, improve value and make informed decisions about the plan moving forward.

What is changing?

The benefits landscape continues to evolve. New drugs and treatments are coming to market, some with significant price tags. Mental health continues to be a major factor in workplace disability. At the same time, employee needs and expectations continue to change. A plan that has served an organization well in the past may need to evolve along with the environment around it.

Are we getting good value from the dollars we are spending?

Cost matters, particularly in the municipal environment. But so does value. A well-managed benefit plan should provide meaningful coverage for employees while making effective use of the municipality's benefit dollars. There are a range of plan management strategies available, and the right approach will depend on the needs and experience of each organization.

Are employees part of the conversation?

Benefits are deeply personal and highly valued by employees. Education and engagement can help employees better understand how their plan works, what is driving costs and the broader pressures affecting benefit plans today. That understanding creates an opportunity for meaningful conversations about what employees value, the choices available and how the plan may need to evolve over time. Ultimately, engaged employees are an important foundation for thoughtful, sustainable plan management.

LAS Group Benefits Program partner, Mosey & Mosey, specializes in working with Ontario municipalities and understand the unique considerations that come with managing benefits in an increasingly complex environment. Budget pressures, collective agreements, changing employee expectations and an evolving health-care landscape all need to be considered when looking at the plan and the opportunities available.

Whether you are reviewing your current plan, looking for opportunities to manage costs or simply want to better understand your options, the LAS Group Benefits Program provides municipalities with access to specialized benefits expertise and the advantages of group buying.

Learn more about the program and how LAS-AMO Business Services and Mosey & Mosey can support your municipality.