Cost & Service Comparison

Cost Comparison Employee Group Benefits Ontario

Most businesses compare employee benefit plans on two platforms: cost and service. With a Youngs-Ten Star Third Party Administrator (TPA) Plan, you get the best of both worlds.


Compare Costs

With a Youngs-Ten Star TPA employee benefit plan, the administration fee isn’t based on a target loss ratio, like a traditional insurance company. Rather, our fee is based on a percentage of claims.

It is fully transparent and easy to understand.

Example of Insurance Carrier Costs

Administration 25%
Claims 75%

From the $100 Premium, $75 covers claims and $25 for administration fees.

This means that the administration fee is actually 33% of claims.

Example of Our Costs

Monthly Deposit: $100.00*
Monthly Claims: $75.00
Administration (14%): $10.50
Total Monthly Cost: $85.50
Employer Owned Reserve: $14.50
This means that we only charge 14% of claims and you keep the reserve.

*Simple deposit example, deposits are based on claims experience and number of employees.


Compare Services

Clients who are exploring the Youngs-Ten Star TPA option often ask us what are they giving up with a TPA. The answer is very simple. Nothing.

You'll get the same customized plan, with the same plan options available to you, but at a lower cost, with more control and better service.

Youngs-Ten Star Group Benefits Traditional Insurance Company
Admin Services We administer in-house Administered by Insurance Company
Monthly Payment Monthly deposit Insurance premium
Administration Fee 14%-18%  25%-35%
If Actual Claims Are Lower Than Estimated

Employer keeps surplus

Insurer keep surplus
If Actual Claims Are Higher Than Estimated Employer pays for funding shortfall monthly

Insurer absorbs funding shortfall in the short term

Premium and reserves are increased at renewal 

Stop Loss Available Available
Transparency Full transparency Varied transparency
Tax Advantages Available Available
Claims Adjudication Follows benefit contract Follows benefit contract


KNOW YOUR OPTIONS – WITH YOUNGS-TEN STAR

How do you balance the cost of employee group benefit plans with the actual benefits to you and your employees?

Employee benefits are often a significant portion of an employer’s compensation costs – but at the same time, they are also an important recruitment and retention tool.

Franchise owner decides against the 'corporate package' – and gets much more for his money

With the same budget, this client was able to get the benefit package he wanted, plus was able to provide a group RRSP for his employees.