MMGC Service Standards

At MMGC we work with clients to build employee benefit plans that meet your unique needs. We realize that every company is different and your benefit plan is only one piece of the total compensation program you offer employees. As independent consultants we have extensive knowledge of the various benefit/pension providers. This qualifies us to offer objective advice and make recommendations based on your specific benefit needs. Our proactive consultancy means clients are informed of new products entering the market, we also review each plan on a consistent basis to ensure your provider is delivering a product that is competitively priced.

Employee Group Benefits

RENEWAL - Full analysis of the insurer's proposed pricing is completed to ensure pricing is fair and in line with the market. Other components of the renewal review also include the following:
  • Monitoring claims usage and premiums paid on a quarterly basis
  • Semi-annual review and pre-renewal discussions
  • Proposed renewal pricing challenged when appropriate
  • Review of plan design and recommendations of alternatives or additional benefits when appropriate
  • Review of benefits included in the plan
  • Reporting provided outlining historical premiums versus claims paid and detailed claims usage
  • Reporting for Life and Disability claimants
  • Drug Claims reporting
  • EAP utilization
  • Administrative review:
    - Carrier updates to products and technology
    - Timely enrolments, changes and terminations
    - Timely Salary updates keeping Life, AD&D and LTD coverage current
    - Maximums and Non-evidence maximums levels are appropriate
    - Identify members capped at the current non-evidence level
    - Online access for Plan Administrators and Plan Members
    - Education sessions available to Plan Administrators and Plan Members
    - Plan administration liability issues awareness
MARKET STUDY - There are times when it is appropriate to obtain quotes from other insurers to test the competitiveness of current pricing and product offerings. The most common reasons to go to market are if the client isn't happy with the service provided by their current carrier or if renewal pricing is deemed to be higher that what is expected in the market. Market study process includes the following:
  • Preparation of Specifications
  • Request to quote sent to major insurance providers
  • Preparation of reporting to deliver the results
  • Review of the pricing and plan offerings to determine the best fit for the company's requirements and budget
  • Request providers to be transparent in any investment in their pricing and plan for recovery in the investment
  • Implementation of the plan
  • Rollout of the policy to the Plan Administrator and Plan Members.

MMGC Pension Service Standards

At MMGC we believe that a group retirement savings plan is an essential component of any public or private sector compensation package. We are strong believers in proactive consultancy and education for members. By engaging and educating members it is our hope that each employee takes more of a vested interest in their own retirement planning process. The following is a list of service standards that we as a firm are committed to providing you as a client.
  • Member education seminars or set one on one sessions. The topics we would cover would include:
    - Fund Selection Information
    - Asset Allocation Information
    - Review member risk profile
    - Pre - Retirement
    - Online services available through the Provider
  • Monitoring claims usage and premiums paid on a quarterly basis
  • Retirement Advice for employees from Certified Financial Planners
  • Toll free access to our office for individual advice
  • Ensure Investment Management Fees are priced competitively
  • Underlying Fund Performance Reviews
  • Investment Advice for new employees
  • Co-ordination with account executive for ongoing service in keeping with CAP guidelines

Things to consider:

In the year 2001, all forms of employee benefits accounted for over 40% of gross annual payroll costs. Value for your benefit dollar is more than just good rates more importantly it is obtaining recognition and value from your staff.

In the last few years low unemployment has been the catalyst in creating competition for companies to attract and retain quality employees. An effective and efficient benefit package can help define a well-run business.

With health care costs rising and provincial budgets being cut, health care plans are required to "fill the gap".

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