Employee Benefits Plan

A Comprehensive Benefits Plan

A comprehensive benefits plan attracts, retains and rewards key talent that will drive your company to the next level. Align Financial Solutions work with both local and national companies ranging from 3 – 100+ employees to help ensure the right plan by providing quality, sustainable benefits plans, and meeting needs within a comfortable budget.

Let us explore ways to help contain costs while providing the benefits plan through traditional insured plans, pooled options, and other alternative solutions.

Traditional Stand-Alone Plans to Fully Pooled Programs:

  1. Popular coverage and features
  2. A range of modular plan designs to fully customizable benefits options available
  3. The best opportunity for long-term rate stability
  4. A Group Benefits program that spreads risk across many clients (i.e. reduces costs due to the volume of members on the plan)
  5. Outstanding service and support for owners, managers, and employees
  6. Comprehensive drug coverage offering both Generic or Brand-Name options
  7. Drug Cards for all plans (unless reimbursement method requested

To implement the best plan we will:

Establish the appropriate mix of benefits with the full suite of options:
  • health & dental
  • vision & drugs
  • travel
  • WI (weekly indemnity or short term disability)
  • LTD (long term disability)
  • CI (critical illness)
  • life insurance
Shop the market for the best offering
Review and present all quotes
Educate employees on the plan selected
Review plan regularly to ensure competitiveness

Private Health Spending Accounts

What it is: Private Health Services Plan (PHSP) is also known as Cost Plus. This is a plan where employees are reimbursed for health services by the employer through a Third Party Administrator. PHSP can be used to top up a Group Life, Health and Dental Plan by covering excess health services not offered under the group plan. This ensures active involvement of your employees in choosing how to spend their allocated health dollars.

How a PHSP works (link)
Setting up a PHSP (link)
Submitting a Claims (link)
Ask an Advisor (link)


No monthly premiums; ‘pay-as-you-go’ stand-alone plan
Reimbursements tax-free to the employee
Reimbursements tax deductible to the employer

Administrative Services Only (ASO)

What it is: ASO contracts offer the most cost-effective way to fund your Group plan – but you must qualify. Like a traditional insured Employee Benefits Plan, the pooled benefits (Life Insurance, AD&D, Dependent Life Insurance, Short Term Disability, Long Term Disability, Critical Illness) are insured through an insurance company.

Under an ASO, the does not pay insurance premiums but pays a fixed amount per month to cover the claims and administrative fees to adjudicate claims.

To Consider:

  • The employer must qualify for an ASO Contract – see here for qualifications
  • Cash-flow risk: it is possible to have an employee claim $20,000 – 100,000 or more in treatments and the employer must be able to cover these costs under an ASO
  • Covering this risk (link)


You have full control of your costs on a monthly basis
If the claims exceed your trust account, we ask you to infuse money into the trust account, in order for us to pay your claims
The money left over in your trust account at the end of the year is given back to the employer who can either get the surplus back in cash, or use it for the following year’s premiums
Educate employees on the plan selected
Review plan regularly to ensure competitiveness

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Employee Benefits

A comprehensive benefits plan attracts, retains and rewards key talent that will drive your company to the next level.

Business Insurance

Risk Management and Business Transition/Succession Planning are our specialties.

Personal Insurance

Whether single or with a family, we have multiple options for you.

Align Financial Solutions

Vancouver: 1185 W. Georgia Street
Coquitlam: 301-3007 Glen Drive

Call Us: 604-818-2820