Strategic partnership aims to level playing field against bigger competitors with better health benefits solutions
Aetna International is hoping to help address a key challenge among Canadian independent business owners through a newly announced partnership.
The benefits giant is teaming up with EIO Solutions, Canada’s leader in the emerging Employee Investment Optimization Industry, to put competitive health benefits solutions within the reach of small-business owners around the country.
Citing figures from the government of Canada, Jason McCormick, senior director of Sales and Service for Aetna International Canada, said 70% of Canadians in the private sector work for small businesses, equating to eight million workers in all.
As small-business owners tend to budget less for employee benefits than their larger competitors, they often face struggles to attract the right talent. The workers and their families, meanwhile, run the risk of being left with sub-par coverage.
“We were drawn to re-enter the Canadian market to support this group,” McCormick said. “To engage with them and create high-value policies, we turned to a Canadian partner on a similar mission.”
Under the partnership, clients stand to save an average of 35% on their premiums through tailored plans that include both traditional and self-insured options; those savings can then be reinvested in higher-value benefits.
EIO Solutions also offers clients support for concerns such as HR policies, government compliance, health and safety, and employee productivity. With money saved from operational efficiencies as well as fines and lawsuits avoided, small-business owners can reinvest in engagement strategies to position themselves as employers of choice.
“For years, EIO Solutions has worked hand-in-hand with small business owners to gain control of—and get more value from—investments made in their workforce,” McCormick said.“The fit is perfect.”
