HFI Benefits Inc: Employee Benefits Advisory

We provide employee benefit advisory and support services in Greater Edmonton Area, Alberta

HFI Benefits is an Edmonton based employee benefits advisory with over 70 years of combined industry experience. We take a progressive approach to benefit plan design and claims funding by utilizing partial, insurer-backed, self-insurance ASO (Admin Services Only), in combination with an optional combined HSA (Health Spending Account)/WSA (Wellness Spending Account) (with a smartphone app available for Android and iOS), called QubeFlex 2.0. This is the direction modern benefit plans has been moving towards for many years; with the recent advent of smartphone application technology, HSAs and WSAs can now be easily and effectively implemented, at a low cost, for companies of any size.

We Provide Expertise, Recommendations, and Ongoing Service & Support
Group Employee Benefit Consults - Edmonton
Executive Benefit Plan Brokers
Employee Benefits Advisory
Edmonton Office
#200 - 6904 Roper Rd NW
Are we the best employee benefit brokers in Edmonton?
Our clients think so, and we think you will too.
Please contact us to arrange a no-risk, no obligation employee benefit plan review.

We utilize ASO and flexible benefits to provide the most progressive, comprehensive and flexible benefit plan for the money, and we ensure it stays that way, year after year.

Group Employee Benefits Consulting - Edmonton & Area

Like many other industries, group employee benefits insurance has become very specialized. This is largely a result of how the group benefits insurance industry is set up. Each insurance company comes up with their own cost structure, using their own metrics, for five or more benefit coverage categories under one group benefits policy: there are no universal industry standards. Add to this a changing legislative landscape, taxation, new technology, and the need for HR related liability protection, and you can see why enlisting the services of a benefits specialist is smart business.

When it comes to high-quality employee benefit plan advice and expertise, primarily life insurance generalists have effectively had their day; attempting to be all things to all companies is now impractical and costly to the company's they are servicing employee benefit plan's for. This is easily borne out in any review analysis done by an experienced employee benefits specialist. As with many industries, you can choose to be really good at one thing, or be mediocre at many... we choose the first approach.

We Can Negotiate Significant Group Employee Benefit Savings For You

Many companies looking for employee benefits coverage think they can simply call an insurer up and request a plan quotation, like getting a quote for hardwood, inventory items, etc. The reality is, you will always be referred to either an internal direct representative (as with Alberta Blue Cross) or a preferred group employee benefits broker that works with that particular insurer. And, unless the broker you're put in touch with has the tools, experience and expertise to be able to provide you with a proper, apples-to-apples, plan comparison from each insurer, you will end up getting five+ different plan designs, with different cost structures, from five+ different insurers. For this reason, and many others, it is strongly advised that you enlist a knowledgeable and experienced group benefits broker from the start. A skilled and experienced group benefits broker will be able to provide you a true apples-to-apples quotation from all relevant group insurers, as well as alternate plan options that you may not have considered.

No national group employee benefits insurer will quote directly to companies. Alberta Blue Cross, a provincially based group employee benefits insurer, has direct representatives, but they still incorporate a standard advisor fee into their rates for the sales employee generating the quotation . Why would you limit your options by dealing directly with one insurance company, when you can get access to the entire group insurer market by dealing with an established employee benefits brokerage advisory.

Furthermore, group employee benefits insurance is really the only financial or insurance service that can still be effectively negotiated in a way that yields significant savings because of the many variables in play that impact the pricing of the various coverage's provided, but it takes the technical tools, experience, expertise and connections of a credible employee benefits advisory to do so.

At HFI Benefits, we start with a group employee benefit plan review

Allowing us to complete a no obligation 'lay of the land' benefit plan review is the simplest, easiest, no-risk way to determine where you currently stand, so we can advise you on any changes or additions that may need to be made. All we need is an electronic copy of your most recent renewal report and the plan summary or booklet. No letters are signed, nor any phone calls made to any supplier at any level. If you don't currently have a benefit plan, all we need is an employee census data sheet and a general idea of what coverage options you're looking for in order for us to secure quotations for you.

MORE INFORMATION: See our benefit plan review page for more details.

Ancillary benefit coverages and services that HFI Benefits provide:

  • Employee and Family Assistance programs or EAP’s or EFAP’s
  • Individual Critical Illness (CI) insurance
  • FollowMe or CoverMe individual Health & Dental plans
  • Out of Canada or Emergency travel insurance plans
  • Group Critical Illness (CI) plans
  • Group Optional Life plans
  • Buy-Sell Business Life Insurance Agreements
  • Key Person Life Insurance
  • Executive Health Savings Plan Life & Critical Illness insurance
  • Corporate Estate Bond Life Insurance
  • Group RRSP & company Pension plans

Frequently Asked Questions

How long has HFI Benefits been around?
HFI Benefits Inc. was set up as a separate specialized corporate entity with Phil D. Jones as President in February 2007. Phil spent 26 years in the financial services and employee benefits industries before starting HFI Benefits Inc. The founder of the HFI Financial Group of companies, an initial partner in HFI Benefits Inc. was one of the first to start offering partial self-insurance (ASO) to Extended Health Care (EHC) and Dental group benefit clients in the late ‘80s.

Why should I deal with HFI Benefits vs another employee benefits broker?
We have the optimum combination of industry knowledge and technical experience with a consistent, dedicated and responsive team. Phil Jones and Lisa Jobagy in particular have worked extensively on both the insurer and broker sides of the industry and have the in-depth knowledge and expertise that the vast majority of other employee benefit consulting/ advisory firms simply don't have. We know our stuff.

How are group employee benefits insurance brokers compensated?
Generally, group plans have an advisor compensation structure automatically built into the plan rates: either a tiered compensation scale that reduces as annual premiums become larger or, flat % scale(s) of the policy's annual premium (or paid claims in the case of ASO plans). Some large employer plans are charged based on a fee-for-service per hour rate. One of these structures is always included in any 'direct quote' received from an insurance company. Any insurer that provides direct quotes to a company will build-in the same compensation into the plan rates that a benefits broker does, so regardless of whether or not a broker is involved, a compensation structure is included. But, you get access to the entire insurer market and competitive rates when you deal with a benefits broker instead of dealing directly with an insurance company's direct employee representative.

Why should you deal with an employee benefits broker?
Experienced Employee benefit brokers have access to all the relevant group insurance companies in the marketplace, so they can provide unbiased advice and composite, 'apples-to-apples', comparisons of all insurers as opposed to being limited to simply providing advice on one in the case of a captive agent or direct quoting insurance company sales employee.

Isn't it more expensive to deal with an employee benefits broker than directly with an insurance company?
No - regardless of whether or not you are receiving your benefit plan through an employee benefits broker or directly from an insurer, the cost of the compensation built into your rates is the same; the difference is the internal representative of the insurance company - who only represents that company - will receive the compensation instead of the employee benefits broker.

What's the most effective and cost efficient benefit plan to offer my employees?
A core insured benefit plan through an established group benefits insurer that provides catastrophic pooled benefits: Life, Accidental Death & Dismemberment, Short-Term Disability (partially pooled), Long-Term Disability, as well as Prescription Drug coverage and Travel coverage, in combination with a flexible benefit: HSA (Health Spending Account), WSA (Wellness Spending Account), which includes an RRSP contribution option for employees.

What is partial self-insurance ASO?
ASO (Administrative Services Only) is a term generally used to describe EHC (Extended Health Care) and Dental claims funding through an established group benefits insurer whereby there is no insured component with regards to everyday common EHC and Dental claims. Out of Canada Travel coverage and Prescription Drug coverage are normally still insured components of the plan.

Who is the best employee benefits insurer?
Certain insurers have more competitive pricing than others in certain industry sectors. In fact, all insurers have certain industries they will not provide quotes for. An experienced employee benefits broker knows & understands the strengths and weaknesses of each insurer that provides employee benefit plan quotations (not all do).

We Provide Expertise, Recommendations, and Ongoing Service & Support
Group Employee Benefit Consults - Edmonton
Executive Benefit Plan Brokers
Employee Benefits Advisory
Edmonton Office
#200 - 6904 Roper Rd NW
Are we the best employee benefit brokers in Edmonton?
Our clients think so, and we hope you will too.
Please contact us to arrange a no-risk, no obligation employee benefit plan review.


Our Services

ASO (Admin Services Only)

For HFI Benefits, ASO is a tool that reduces the processing, inflation and risk expenses of a group plan while also eliminating ultra-conservative insurer reserves

Benefit Plan Reviews

Over the years we’ve found the best way to ensure you have the most progressive and comprehensive benefit plan possible is to complete a two to three-year financial analysis along with a full plan design review

Health and Wellness Spending Accounts

Our flexible HSAs and WSAs are administered through web and smartphone applications. Your employees receive “flex-credits” (dollars) which they are able to allocate according to their own needs. They then submit claims through the QubeFlex 2.0 website or myHSA smartphone applications

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