As a small business owner, you’re constantly balancing the needs of your team with the realities of your bottom line. Every dollar counts—and every investment must earn its place.

So when it comes to offering a group benefits plan, the question isn’t just

“Can we afford this?”— it’s “What’s the return?”

The right benefits plan isn’t a cost—it’s a competitive advantage. Especially when it’s flexible, tax-efficient, and designed for how Canadian small businesses operate today.

At Blendable, we build group benefits plans around Health Spending Accounts (HSAs) and other customizable options that help Canadian small businesses support their teams without overextending their budgets.

Let’s look at the return on investment (ROI) —and why it’s one of the smartest investments you can make.

Attract Top Talent

In a tight labour market, offering benefits can make or break your hiring efforts.

69% of Canadian workers say they would leave their current job for one with better benefits.
— RBC Insurance

The mosaic that is the Canadian labour market means every employee, current or prospective, will have ever-changing needs when it comes to their health. A plan that gives individual choice allows for them to meet those needs, spending their compensation accordingly (because remember – benefits are compensation).

Whether someone values massage therapy, mental health support, or dental coverage, they get to choose what’s important to them. The accumulating nature of an HSA also allows for those big expenses. Lasic eye surgery? No problem. Braces for your kids? You’re covered. 

People value autonomy, and a flexible benefits plan gives them just that – reducing your hiring costs, duration, and turnover.

Boost Productivity and Reduce Absenteeism

Healthier employees are more focused, energized, and present at work.

Canadian employers lose an estimated $16.6 billion annually due to absenteeism linked to poor health.
— Conference Board of Canada

Because an HSA doesn’t have category limits, it empowers your team to invest in any appropriate preventive care — whether that’s a chiropractor visit, mental health counselling, or vision support. This leads to better overall well-being and fewer sick days.

Regular health screenings can lead to a 25% reduction in sick leave. With investment in your group benefits, you’re not only helping your team reduce those out-of-pocket expenses but you’re helping your bottom line.

Save Money Through Tax Efficiency

This is where the dollars-and-cents value really adds up.

With a Health Spending Account:

• Employers write off 100% of contributions as a business expense
• Employees receive the funds tax-free

Compare that to a traditional raise—where both parties pay income tax—and it’s clear which one stretches further.

Example: A $1,000 bonus may only yield $600 after taxes for the employee. That same $1,000 in an HSA provides the full value—and costs the business the same (or less).

We recently wrote an entire blog about the value of an HSA compared to that of a raise. If you’re heading into performance evaluation season – consider giving it a read!

Build Loyalty and Retention

Offering a benefits plan shows you value your team—not just as workers, but as people.

77% of employees say they’re more likely to stay with an employer that offers a strong benefits plan.
— RBC Insurance

Especially in a small team, where every person counts, this kind of goodwill builds long-term loyalty and engagement.

The 2024 Benefits Canada Healthcare Survey reported that 91% of respondents with a workplace that encourages wellness said they’re satisfied with their job. 

Taking both the above statistics into consideration, a good benefits plan has the ability to not only keep your top talent around but keep them happy too!

Stay in Control of Costs

One of the biggest advantages of a Blendable plan is that it’s fully customizable and scalable. No rising premiums, no surprise renewals—you choose the contribution amount and can adjust it annually based on your business’s needs.

In Canada, the average health benefits cost trend for 2025 is estimated to be 7.4%, up from 5% in 2024.
— Benefits Canada

Compared to traditional insurance plans which become more expensive each year, an HSA gives you predictability and control. Take the cost to pay claims for example. A premium-based typically ends up costing double the usage – you're essentially paying $2 for every $1 of claims. A Blendable HSA, however, is only a 10% admin fee – that's it.

Make Your Dollars Work Smarter

A group benefits plan isn’t just about competing with big companies—it’s about building a healthy, motivated, and loyal team that fuels your growth. And with modern solutions that Blendable offers, offering those benefits doesn’t have to break the bank.

Whether you’ve got 2 employees or 200, the ROI is real—and measurable.

Want to get started on your benefits journey? Ready to kick your old plan to the curb? Get in touch with our Growth Team and watch your investment pay off in real time! 

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