HFI Benefits Inc: Employee Benefits Advisory

HFI Benefits is an Edmonton based employee benefits advisory company with over 70 years of combined industry experience. We take a progressive approach to benefit plan design and claims funding by utilizing partial self-insurance, ASO (Admin Services Only), in combination with an HCSA (Health Care Spending Account) and WSA (Wellness Spending Account) add-on: QubeFlex 2.0. This is the direction modern benefit plans have been going; with the recent advent of smartphone application technology, HCSA's and WSA's can now be easily and effectively implemented, at a low cost, for companies of any size.


We Provide Expertise & Recommendations
Employee Benefit Plans - Group Retirement Plans - Executive Benefit Plans
780-705-7800
Employee Benefits Advisory
Edmonton Office
#200 - 6904 Roper Rd NW EdmontonE


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.

Experienced Group Benefit Specialists

Like many other industries, 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 categories under each group benefits policy; there are no 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 a group of experienced benefit specialists is now a necessity. General life insurance has effectively had its day; attempting to be all things to all companies is now impractical. 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 Savings For You

Many companies looking for employee benefits coverage think they can simply call insurers and request a plan quotation, like getting a quote for hardwood, inventory items, etc. The reality is, they will always be referred to either an internal direct representative (Alberta Blue Cross) or a preferred broker. And, Unless the broker they’re put in touch with has the tools, experience and expertise to be able to give them an apples-to-apples plan comparison from each insurer, they’ll end up getting five different plan quotations from five different insurers; because the insurance industry is not standardized and each insurance company calculates their rates and premiums based on their own metrics. It is strongly advisable that the company enlist a knowledgeable and experienced benefits specialist broker from the start. A good quality group benefits specialist broker will be able to give you an apples-to-apples quotation from all relevant insurers, as well as alternate options that you likely may not have considered.
No major group benefits insurer will quote directly to companies. Alberta Blue Cross is the exception, but they incorporate the same advisor/broker fee into their rates, so why would a company ever want to deal directly with an insurance company?

Furthermore, employee benefits insurance is essentially the last financial service that can still be effectively negotiated in a way that yields significant savings, but it takes the technical tools, experience, expertise, and connections of a credible benefits specialist consultant to do so.

If you don't know where you stand, it's difficult to move forward in the right direction, and that is why we start with a benefit plan review. Allowing us to do a no obligation, lay of the land, benefit plan review is the simplest, easiest, no-risk way to determine where you stand. All we need is an electronic copy of the 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. 

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

Ancillary benefit coverages and services that HFI Benefits provide:

  • Health Care Spending Accounts or Health Spending Accounts
  • Wellness or Personal Spending Accounts
  • Employee and Family Assistance programs or EAP’s, EFAP’s
  • FollowMe or CoverMe individual Health & Dental plans
  • Out of Canada or Emergency travel insurance plans
  • Group Critical Illness (CI) plans
  • Group Optional Life plans
  • Keyman or individual Life insurance
  • Individual Critical Illness (CI) insurance
  • Group RRSP & company Pension plans (through our strategic partner arrangement)
  • Individual Estate planning (through our strategic partner arrangement)
  • Financial planning (through our strategic partner arrangement)

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. The founder of the HFI Financial Group of companies was one of the first to start offering partial self-insurance/ASO to his group clients in the late ‘80’s.

Why should I deal with HFI Benefits vs another employee benefits advisory/broker?

We have the optimum combination of industry knowledge and technical experience with a stable, dedicated and responsive staff.

How are group benefits insurance advisors/agents/consultants/brokers compensated?

Generally, group plans have an advisor compensation structure automatically built into the group rate base. This scale is reducing as annual premium becomes larger or a flat % of the annual premium, or claims in the case of ASO (Admin Services Only) plans. Although, some large employer plans are charged a fee-for-service per hour rate. These structures also apply to any direct quote from an insurer to a company; regardless of whether or not a broker is involved, a compensation structure is included, so it does not make sense to deal directly with an insurance company.


We Provide Expertise & Review:
Employee Benefit Plans, Group Retirement Plans & Executive Benefits
Edmonton & Office
780-705-7800
#200 - 6904 Roper Rd NW Edmonton


GET IN TOUCH WITH US FOR A NO OBLIGATION, NO COST, BENEFIT PLAN REVIEW TODAY

Our Services

ASO (Admin Services Only)

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

Benefit Plan Reviews

We’ve found over the years that the best way to ensure a company has a progressive and comprehensive benefits plan is to complete a two to three-year financial analysis along with a complete plan design review.

Health and Wellness Spending Accounts

Our Flexible HSA / WSA (health and Wellness spending account) benefit program is administered through a dedicated website or Smartphone application. Your employees receive “flex credits” (dollars) which they are able to spend according to their own needs.