A Health & Welfare Plan (HAWP) offers incorporated professionals and business owners a reliable and economical way to provide expanded medical and dental coverage for themselves, their families and certain employees.
To set up a HAWP for your client’s business, first the client must set up a chequing account in the name of the HAWP at their preferred bank.
Although the HAWP is a trusteed arrangement, an actual trust account is not required or recommended.
Complete and submit the HAWP Authorization Form to GBL and we will prepare your client’s HAWP documents.
The HAWP documentation will be delivered to location listed on the HAWP authorization form.
Your client should sign HAWP documentation and establish the account at the bank of his or her choice. We recommend mailing a signed copy of the documentation back to GBL Inc. for safekeeping.
Your client advises their employees of the benefits program, and employees begin taking advantage of the plan.