Group Benefits Renewal Checklist

Your renewal is one of the few moments each year when you can review, adjust, and negotiate your group benefits plan with real leverage. This checklist walks you through what to gather and question before you approve the numbers.

Before Your Renewal Arrives

• Note your renewal date and work backward at least 60 days.
• Locate last year's renewal letter and current rates for comparison.
• Gather your current plan booklet and benefits summary.
• Confirm your up-to-date employee count and demographic changes.
• List any coverage frustrations your team raised over the past year.
• Ask your advisor for a plain-English summary of what's changing and why.

Understand the Numbers

• Review the proposed rate change for each benefit line, not just the total.
• Ask which benefits are experience-rated and which are pooled.
• Request your claims experience report if one is available.
• Check how group demographics (age, earnings, headcount) affected pricing.
• Identify any external factors the insurer applied, such as trend or inflation adjustments.
• Confirm any high-cost claims and how they were handled in the rating.

Review Plan Design and Usage

• Compare what your team actually uses against what you pay for.
• Look at drug, dental, paramedical and vision maximums and how often they're hit.
• Consider whether a Health Spending Account could add flexibility.
• Check life, AD&D and disability coverage still fits your workforce.
• Review waiting periods, eligibility rules and termination provisions.
• Flag any benefits that are underused and any gaps worth closing.

Explore Your Options

• Ask whether the renewal can be negotiated before you accept it.
• Request an independent comparison across leading Canadian carriers.
• Discuss cost-control ideas like plan design changes or cost-sharing.
• Consider whether a group RRSP or DPSP would strengthen your offering.
• Review owner and key-person protection alongside your group plan.
• Weigh the trade-offs of any change against employee impact and admin effort.

Finalize and Communicate

• Confirm the effective date of any approved changes.
• Update your plan documents and internal records.
• Plan clear, simple communication for your team about what's changing.
• Schedule employee education or onboarding support if design changes.
• Set a reminder to review usage mid-year, not just at renewal.
• Book a follow-up with your advisor to plan ahead for next year.