GROUP BENEFITS
Plans to Meet Your Employee Health Needs.
Group Benefits foster a healthy workplace. They may help with morale, productivity and efficiency while providing comprehensive protection at an affordable cost.
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Plans offer a combination of:
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Health Insurance: prescription drugs, Massage, Chiro, Physio and vision.
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Dental Insurance: regular check-ups, cleanings, and fillings.
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Life Insurance: financial support to an employee's family in the event of their death.
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Disability Insurance: continued income to an employee if they become unable to work due to an accident or illness.
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Critical Illness Insurance: lump sum, tax-free benefit to an employee if they are diagnosed with a covered critical illness, such as cancer or heart disease.
Benefits for Employers and Employees:
Benefits to Employers
This plan is an effective way to attract and retain valuable employees. Premiums paid are tax deductible as a business expense.
Benefits are part of employment contracts or can be provided in lieu of a bonus or raise. Benefits are easy to set up and administer.
Benefits to Employees
Benefits provide protection and financial security for yourself and your family. Some plans offer guaranteed coverage with no medical questionnaires. Employers pay some or all of the cost.
Six Reasons to offer a Group Benefits Package
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Protect your employees
An extended health plan gives employees access to additional treatments, therapies and medications. It is proven that a health and dental plan may keep your employees healthier, with less sick days. A plan helps to ensure your employees and their dependents are protected.
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2. Protect your business
If an employee gets sick or injured, insurance helps to the pay the bills so they can get healthy and return to work quickly. A benefit plan with long term disability and critical illness insurance protects them and gives them financial security.
3. Maintain productivity
Specific parts of the plan such as an Employee Assistance Program and Best Doctors, provide your employees with outside resources, tools and support. Life brings challenges and a group plan helps.
4. Attract and retain key talent
A well-designed and flexible group benefits program can make your business more competitive. Employees moving to your city may have had a plan with their previous employer and are looking for a similar package.
5. Provide tax-efficient compensation
Nothing better than tax-free! A group benefits plan is designed to cover expenses in a tax-effective manner. his leaves more money in your employees’ pockets.
6. Establish structure for your business
As new employees come onboard, they are eligible to join the group benefits plan, once they have satisfied the waiting period.
If you are shopping for a plan or renewing yours, ask your broker for several quotes. Insurance companies are very competitive. Look at the details of the plans and compare apples to apples. What is the annual limit for services with physiotherapists, chiropractors and massage? Does the dental plan just cover basic services or major as well? What is the dental maximum?
A Health Spending Account is an attractive option for business owners. This plan allows for more flexibility with no monthly premiums. Business owners establish annual maximum amounts for each employee class. The employees can spend their health spending account on any eligible expense. A Health Spending Account can act as a top-up to an insurance plan.
Be competitive. Enhance the Benefits for you and your employees!