Your renewal arrived. Before you accept it, make sure it still makes sense.
GMFSI helps Ontario employers examine renewal pricing, claims experience, plan design and market options—so the next decision is informed, defensible and aligned with employee needs.
More lead time allows for better analysis, negotiation and—when appropriate—responsible market comparison.
A renewal increase is a signal to investigate—not automatically a reason to switch.
A sound review considers the full plan before recommending a direction. The lowest initial quote is not necessarily the strongest long-term outcome.
Renewal pricing
Which benefits changed, by how much, and what is driving the overall adjustment?
Claims experience
How do recent claims, utilization and emerging patterns affect the renewal?
Pooling and trend
How are inflation, pooling charges and insurer assumptions reflected in pricing?
Plan design
Does the current structure still balance cost, coverage and employee value?
Workforce needs
Has the company’s size, demographics or employee priorities changed?
Market position
Are the rates and contract terms reasonable in the current market?
STAY • NEGOTIATE • MODIFY • MARKET
The objective is not to force a carrier change. It is to identify the most appropriate path after reviewing the evidence.
STAY
Keep the current arrangement when pricing, service, coverage and long-term value remain reasonable.
NEGOTIATE
Ask the current insurer to reconsider assumptions, pricing or terms where the experience supports it.
MODIFY
Adjust plan design, cost sharing or coverage priorities while protecting the plan’s core purpose.
MARKET
Compare suitable alternatives when a responsible market review may improve value or fit.
Your plan may deserve a closer look if…
- The renewal increase is difficult to explain internally.
- You have received limited analysis beyond the renewal summary.
- Employees are questioning coverage, limits or out-of-pocket costs.
- Your workforce or company size has changed materially.
- The plan has not been compared with the market for several years.
- You want an independent perspective before signing the renewal.
Four items can provide a much clearer picture.
If available, these documents help assess the renewal efficiently. Missing information should not prevent an initial conversation.
Group benefits renewal review FAQs
Does requesting a review mean we must change insurers?
No. A review may confirm that staying with the current insurer is the best decision. GMFSI’s framework considers staying, negotiating, modifying the plan and marketing it—not switching for its own sake.
How early should we begin?
Starting approximately 90–120 days before the renewal date is ideal. This provides time to gather information, understand the renewal and consider alternatives without rushing.
Can GMFSI review a plan even if we are satisfied with our current advisor?
Yes. An independent second opinion can help an employer validate the renewal and identify questions to ask. The initial review does not obligate you to appoint GMFSI or change the existing arrangement.
Will marketing the plan always reduce costs?
No. Market results depend on workforce demographics, claims, plan design, insurer appetite and other factors. A responsible review weighs pricing alongside contract terms, service, stability and employee value.
What size of employer can request a review?
GMFSI works with small and mid-sized Canadian businesses. The initial conversation helps determine whether the plan and renewal information are suitable for a meaningful review.
Know what is driving the renewal—and what choices you have.
Request a confidential, no-obligation review or begin with a short conversation about your renewal timeline and priorities.
Green Mountain Financial Services Inc. • Madhu Shukla, CFP®, EPC • General information only. Plan recommendations require a review of the employer’s circumstances, plan documents and available market information.
Is your upcoming renewal still competitive?
Before accepting the renewal, understand what is driving the pricing—and whether you should stay, negotiate, modify or test the market.