Group Benefits for
Neo Financial

Yes. You will receive a Welcome Email to complete your registration during your first week. This must be completed 31 days after your start date, or you will be considered a late applicant to the plan and further delays may occur.  

Please note that you must have a valid provincial health card in order to enroll. If you do not have one, please email  people.operations@neofinancial.com prior to registering for benefits

You can opt-out of Health/Dental/Vision coverage from Simply if you have comparable coverage elsewhere (Ex. from your spouse/partner/family member). You still need to register in order to opt-out as life insurance, AD&D & Dependant life are mandatory.

Simply Benefits is committed to protecting the confidentiality of personal information and has established comprehensive safeguards to protect that confidentiality. Information provided through the website is used for Simply Benefits business purposes only. Information is protected with a wide variety of measures designed to secure information, strictly control who can access it, yet still have it available when needed.

The cost for Duo is the same as for Family. More importantly, it is a way for our system to capture those with only 1 dependent on their plan. 

Sign into the Simply Benefits plan member site, select “optional coverages”. Complete the online application process and/or an Application for Optional life form (if requested).

Employees must enroll in the plan within 31 days of their eligibility date in order to avoid medical underwriting. Otherwise benefit restrictions or back-premium charges are the result of this ‘late entrant’ status. In a worst-case scenario, a late applicant may be denied all coverage.

If you do not register within 31 days, you will not be eligible for coverage and will have to undergo additional medical underwriting*. 

*Medical underwriting is the process of evaluating an application for health insurance coverage by examining the applicant’s medical history.

Note that this also applies to employees who have opted out of Health and Dental due to spousal coverage. If the spouse loses coverage at a later date and the employee wishes to opt back into those benefits, they must do so within 31 days of the loss of coverage.

We encourage you to download the Simply Benefits app. This app has been customized for NEO employees.

If you don’t re-enroll before Sep 30, 2025, you’ll be automatically placed in the new Basic plan, and you will not be able to change your selection.

Simply will be hosting virtual office hours twice per week during our re-enrollment period to answer any questions you may have. Please register for a session through one of the links below. Alternatively, you can reach out to us by emailing People.Operations@Neofinancial.com or connect with Camela Beck at Neo, our Total Rewards Lead.

Simply Virtual Office Hours:

September 25, 2025 at 11:30 – 12:00 – Room G

September 16, 2025 at 1:30 – 2:00 – Room O

September 18, 2025 at 11:30 – 12:00 -Room O

September 23, 2025 at 1:30 – 2:00 – Room O

No. Once the September 30 deadline passes, you will remain in the plan you selected (or Basic if you did not enroll) until the next bi-annual re-enrollment period (Q4 2027), unless you experience a qualifying life event. What counts as a qualifying life event? Events like marriage, divorce, birth/adoption of a child, or a significant change in spousal coverage may allow you to update your benefits mid-year. If you experience a qualifying life event, please contact the People Team for guidance.

Your policy number is 61179.

You can apply for Optional Life insurance coverage at any time throughout the year. Sign into the Simply Benefits plan member site, select “optional coverages”. Complete the online application process and/or an Application for Optional life form (if requested).

Yes, you can. However, you must name a Trustee. Your benefits payment will go to the trustee until the underage person reaches the age of majority.

We encourage you to look at the landing page, submit a Benefits JIRA Ticket or send an email to people.operations@neofinancial.com

Over the past two years, our team has used more benefits than we paid for. Our claims ratio was 143%, compared to an industry average of around 80%. This meant Simply paid out far more in benefits than they collected, essentially taking a loss to provide us coverage — and we got a steal of a deal.

As a result, our new premiums are now aligned with industry norms, but the good news is that our per-unit costs remain among the lowest in the market. To help offset this change, Neo is increasing its premium contribution from 50% to 65% for the Basic plan — representing an additional $250,000 annual investment in our team’s well-being.

This is a shared investment in a strong plan, with both employees and Neo contributing to ensure sustainable, high-quality benefits for everyone.

As a reminder, you can use your myFlex Plan HSA/WSA account to help cover your benefits premiums and reduce out-of-pocket costs.

In the past, employees could mix and match health and dental coverage levels. With the new Simply plans, you now select one integrated plan (Basic, Base+, or Premium+) that applies across all coverage areas. This ensures better consistency across coverage and keeps our overall pricing competitive. 

We also saw that few employees were mixing and matching across health and dental coverage levels. Feedback from our survey showed that our team values greater flexibility in overall plan levels, rather than having separate levels available for health and dental.

Your new coverage will begin October 1, 2025 once the re-enrollment period is complete, and will run through the end of the calendar year. 

Your benefits allotments will reset on October 1, 2025. New allotments will be based on the plan option you choose during this re-enrollment.