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October 6, 2023

Are Your Benefit Plan Rates on a Rollercoaster?

Imagine this: You know employees are your most important asset, so now, you’re on the hunt for the perfect employee benefit plan. After some investigation, you stumble upon a “deal” that promises rates lower than anyone else. It might seem like you’ve hit the jackpot, but there’s the twist – these initial rates, often called “teaser rates,” can be a bit like a magician’s misdirection, diverting your attention from the real and more importantly, achieving rate stability.

At BCCA Employee Benefit Trust, our employee benefit plan, we take a distinct approach, prioritizing integrity, reliability, and safeguarding your hard-earned dollars.  As a Trust, client service is our priority, making you our priority. We’re about families, not shareholders.

Why do stable rates matter? Here are the key reasons:

The Power of Predictability: Stable rates give you the ability to plan your finances with confidence. No more unexpected financial surprises. You can budget for your insurance expenses year-to-year without fearing sudden spikes.

Maintaining Your Budget: Insurance is a long-term commitment, more like a marathon than a sprint. With consistent pricing, you don’t need to worry about sudden premium hikes disrupting your financial plans or the long-term viability of your employee benefit plan.

Building Trust: Trust is the bedrock of the relationships we build with our members.  We build this trust day-in and day-out and we do that, partly through steady rates.  We’re committed to ensuring our members experience the best service and receive the best value for their benefits dollar.

So, how can you ensure your rates remain steady?

Read the Fine Print: Details are important so read your proposal carefully. Read your policy meticulously and inquire about potential changes to the pricing structure.  If something’s unclear to you, make sure to ask.

Check Rate History Ask the insurer what the average renewal adjustment has been over the last few years to assess what you may expect to see at the first renewal.

Consider the Long-Term: Don’t focus solely on the initial low premium. Consider the long-term renewal methodology to gain a clearer understanding of how future renewals will be calculated.

Seek Expert Advice: Insurance is complex, just like your business. Consult professionals, such as insurance experts, who can provide clarity and steer you toward the right choice for you.

Choose Wisely: Seek a partner that understands your needsThis partner should be able to articulate the value of the insurer beyond the rates.

For more information on benefit plans and what makes the BCCA Employee Benefit Trust unique, visit, email, or call 1-800-665-1077. Your peace of mind is our top priority, and we are here to assist you every step of the way.

At BCCA Employee Benefit Trust, a non-profit organization, we’re committed to transparency, stability and positive health outcomes. We do not lure you in with unrealistically low initial premiums, only to increase rates at the first renewal. When you choose us, you’re opting to participate in a plan built to serve its members and we do that by actively managing costs to ensure long-term plan stability.  We don’t reduce plan coverage to reduce rates.  We believe in providing robust benefit plans, resulting in better health outcomes; healthier and engaged employees lead to long-term plan sustainability.