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During the COVID-19 crisis, Major Group continues to serve you Monday to Thursday, from 8:30 a.m. to 6:00 p.m. and Friday, from 8:30 a.m. to 5:00 p.m. For more information about the measures we have put in place to ensure effective service while protecting the health of our employees, please consult our press releases.

Choosing the right type of plan: you have options

Did you know that you can choose from different types of financial arrangements for your group insurance plan?

Fully insured plan

It is the most traditional and common type of plan. With a fully insured plan, all the risk is assumed by the insurer. However, the insurer keeps any premium surpluses and owns the financial reserves.

Administrative Services Only (ASO) plan (self-funded plan)

Some organizations that want to exercise more control over their plan and that seek to reduce its cost choose to self-fund some of their benefits using an ASO plan. With an ASO plan, the organization takes on all the risk for the plan by building reserves with the premiums collected. These reserves are then used to reimburse claims. The organization therefore owns the reserves and can keep any premium surpluses. With an ASO plan, the organization also avoids paying profit margins and risk premiums charged by insurers.

Major is one of the few in its field to have the expertise and the technology required to administer self-funded plans.

Let us advise you

Choosing the right type of plan depends on many factors and it is important to call upon an expert for advice.

We will assess your situation and recommend appropriate solutions.

No matter the type of plan you will choose, Major will be able to administer it for you under our turn-key, single point of contact model.