Group Benefits Renewal Checklist

Stay ahead of your group benefits renewal deadlines this year. Our checklist helps you cover all bases to make the process smoother and more cost-effective.

Review Current Plan

• Check plan coverage details against current employee needs
• Analyze claims history for trends and adjustments needed
• Verify compliance with provincial regulations and updates
• Identify any gaps in existing benefits

Gather Necessary Data

• Collect updated demographic information (age, gender, salary)
• Prepare financial statements for the past year
• List all changes to employee count and structure
• Document recent health trends among employees

Plan Sponsor Considerations

• Determine budget constraints and cost-saving goals
• Set objectives for improving benefits offerings
• Evaluate the need for additional coverage options
• Consider employee feedback on current plan satisfaction

Renewal Negotiation Strategy

• Compare renewal quotes from multiple carriers
• Negotiate with your provider based on data and trends
• Review premium rates for potential cost savings
• Seek advice from an independent benefits advisor

Implementation and Communication

• Draft communication plan to inform employees of changes
• Schedule training sessions for new or updated benefits
• Update employee handbooks with revised benefit details
• Confirm all renewal processes are completed on time