Group Benefits Renewal Checklist for Canadian Employers
A group benefits renewal involves more than reviewing a new premium. Employers may need to assess claims experience, workforce changes, plan design, employee contributions, insurance documents, and implementation requirements.
A structured checklist helps keep the process organized and supports better-informed decisions.
Use this practical guide to prepare for your next group benefits renewal.
1. Before the Renewal: Review Your Current Plan
Gather the essential details of your existing benefits plan.
Confirm the following:
Current insurance carrier
Renewal date
Number of eligible employees and dependants
Employer contribution
Employee contribution
Benefit classes and eligibility requirements
Waiting periods
Major coverage limits
Having this information readily available provides a clear starting point for your renewal review.
2. Review Workforce Changes
Your benefits plan should reflect your current workforce and anticipated business needs.
Identify any changes involving:
New hires and employee departures
Expected hiring or layoffs
Acquisitions or organizational restructuring
Changes in employee classes or eligibility
Changes in employee locations
These changes may affect plan administration, eligibility, and your company's overall benefits requirements.
3. Review Your Claims Experience
Request the available claims reports and utilization information for the major benefit categories, subject to applicable privacy requirements and reporting limitations.
Review the following categories where applicable:
Prescription drugs
Dental care
Paramedical services
Mental health services
Vision care
Other extended health benefits
Ask your broker to explain which categories are contributing most to cost changes and whether any notable trends or unusual claims patterns are affecting the renewal.
Understanding your claims experience can help identify potential cost pressures and opportunities for plan adjustments.
4. Understand Your Renewal
When your renewal proposal arrives, review more than the total percentage increase.
Identify:
The change in total premiums
Premium changes by benefit category
Claims experience and relevant claims projections
Applicable trend and pricing assumptions
Pooling charges or other risk-related charges, where applicable
Changes in pricing assumptions or methodology
Any proposed changes to coverage or plan terms
For example, a 10% overall increase could reflect different movements across individual benefit categories.
Ask your broker to explain the main factors behind the proposed renewal and clarify any figures you do not understand.
5. Ask Your Broker the Right Questions
Use these questions to guide your renewal discussion:
What is driving the renewal increase?
Which benefit categories are contributing most to the change?
How does our claims experience compare with the assumptions used in our pricing?
How much of the increase is related to claims experience?
What other pricing factors are affecting the renewal?
Are there alternative plan designs worth considering?
Can we adjust the plan without removing coverage employees value?
Would a market review help us assess our options?
What would switching insurance carriers involve?
When is the decision deadline, and when must any changes be finalized?
Clear answers will help you evaluate your options before committing to a renewal.
6. Evaluate Your Plan Design
Review whether your existing coverage remains appropriate for your workforce and budget.
Consider the following:
Deductibles and coinsurance
Reimbursement levels
Annual maximums and coverage limits
Prescription drug coverage and management provisions
Dental coverage
Paramedical service maximums
Mental health coverage
Vision care
Health Spending Account (HSA) options
Employer and employee cost-sharing arrangements
The objective is not to change everything. It is to identify specific issues and determine whether targeted adjustments could improve the balance between cost and coverage.
Consider the potential impact on employees before making changes.
7. Compare Alternatives Carefully
If your broker presents alternative plans or insurance carriers, compare them using consistent criteria.
Evaluate:
Total employer cost
Employee contributions
Coverage levels and exclusions
Contract terms and conditions
Customer service and claims administration
Plan administration requirements
Renewal pricing methodology
Prescription drug management provisions
Long-term cost sustainability
A lower premium does not necessarily mean better value. Make sure the alternatives provide a meaningful comparison of coverage, service, and overall cost.
8. Prepare Employee Communications
If your renewal involves changes to coverage, contributions, or plan administration, prepare clear communication for employees before the changes take effect.
Include:
The effective date
What is changing
What is staying the same
Any changes to employee contributions
Actions employees need to take
Where to find updated plan information
Who to contact with questions
Advance communication helps employees understand their coverage and prepare for any changes that affect them.
9. Complete Implementation Requirements
Before the new plan takes effect, confirm that all required administrative steps have been completed.
Use this checklist:
Signed renewal or policy documents
Required employee enrolment or eligibility updates
Plan administrator access
Payroll deductions and contribution changes
Beneficiary information, where required
Evidence of insurability, where applicable
Coordination of the previous plan's termination if changing carriers
Employee communications
Confirmation of the new plan's effective date and coverage details
Confirm the specific requirements with your broker and insurance carrier. Requirements may differ depending on the plan and the changes being implemented.
10. Review Your Plan After Renewal
A renewal should be part of an ongoing benefits strategy, not just an annual administrative exercise.
Schedule periodic reviews throughout the year to monitor:
Claims trends and cost pressures
Employee feedback
Benefit utilization
Workforce changes
Emerging employee needs
Opportunities to improve plan design or administration
Regular reviews can help you identify issues earlier and prepare for future renewal discussions.
Final Group Benefits Renewal Checklist
Before approving your renewal, make sure you can answer these questions:
What changed in the renewal?
Why did the costs or coverage change?
Which benefit categories are driving the costs?
What alternatives were considered?
How much will employees contribute?
What will the employer pay?
What coverage will employees receive?
Are the proposed plan terms and coverage appropriate?
What needs to be completed before the effective date?
When should the plan be reviewed again?
If you can answer these questions confidently, you will be better prepared to make an informed benefits decision.
Let Next Benefits Help With Your Renewal
Navigating a group benefits renewal can be complicated, especially when costs are rising or your workforce's needs are changing.
Next Benefits helps Canadian employers review their existing benefits plans, understand renewal changes, evaluate plan design, and explore available options.
Contact Next Benefits to discuss your upcoming renewal and determine whether your current plan continues to meet your business and employee needs.
