Admiral Insurance’s award-winning benefits program is demonstrating how employers can use versatility to strike a fine balance between finding innovative solutions and maintaining plan sustainability.
The organization was the winner in the Drug/Benefits Plan Innovation category of the 2024 Workplace Benefits Awards. “We’re honoured to win this award and be nominated in three categories,” says Allison Jost (pictured left), Admiral’s payroll and benefits manager.
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The insurer’s benefits plan design offers supports and programs that meet the needs of its diverse workforce, from mental and physical health to financial wellness. On the mental-health side, the company separated its mental-health coverage into its own bucket, outside of its paramedical coverage, providing up to $2,000 maximum for a range of mental-health practitioners for staff who have been with the organization six months or more. It also provides employees with separate coverage for mental-health care through its employee assistance program and has added 100 per cent coverage for drug and alcohol rehabilitation at $80 per day up to a lifetime maximum of $2,500.
On the physical health side, Admiral provides $500 for pharmacogenetics testing, long-term disability for select roles and added a maximum of $400 for vision care and coverage for one eye exam every two years. It also added coverage for orthodontic and major dental work for staff employed for six months or more.
Additionally, it’s helping employees contend with a fraught economy by reimbursing a variety of expenses, including utility bills and recreation fees for children or self-care. Its personal wellness account provides reimbursements for general lifestyle expenses such as leisure travel, domestic services, pet care and internet usage fees.
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Over time, Admiral Insurance has expanded the items eligible for reimbursement through its wellness account, says Karine McCormick (pictured right), its payroll and benefits coordinator, noting it was important to provide flexibility and allow employees to choose where they felt they needed additional support.
The organization has also enhanced its benefits to make them more inclusive, providing $40,000 per lifetime maximum for gender affirmation coverage and enhancing its fertility drug coverage to $1,500 per calendar year, up from $3,000 over a lifetime. The plan also includes unlimited weight-loss drug coverage, in addition to its unlimited drug coverage reimbursement at 80 per cent when purchased from a pharmacy within its preferred partner network.
“We really listened to our staff to hear what they were requesting and really needed,” says Jost. “Obviously, it’s a balance between cost and what they want. We were able to put together these amazing new benefits . . . and the response has been overwhelming.”
Admiral employees consistently give high markets to the company’s benefits plan, including in an employee pulse survey at the end of last year, which ranked the plan at 4.76 out of five. And McCormick says its personal wellness account is consistently recognized in an employee benefits survey as one of the most-valued offerings.
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