An employee benefits plan can help cover Canadians who have protection under their provincial health care program but would benefit from more coverage. In the event of a long-term illness or accident-related emergency, there could be high unforeseen costs and financial worries. This is where an employee benefits plan can help.
The world of employee benefits continues to evolve and innovate as employers like you continue to look for strategies to optimize the value of their employee benefit programs. A recent trend has been for employers to self-insure some areas of their employee benefits with Administrative Services Only plans (ASO).
Do you want to improve your benefits plan but not sure where to start? Or maybe you're conflicted between a health care spending account and a lifestyle spending account. Flexible/Flex spending accounts can give you the choice and flexibility in a customizable benefits package to meet your employee's health and wellness needs.
As a business owner, you work hard to ensure your staff is satisfied with the work they do, their compensation, and the health benefits you provide. You may be wondering, "what else can I do to attract and retain top talent to my organization?". Lifestyle spending accounts, also known as wellness spending accounts, can be an invaluable tool to do just so.
Do your employees ever comment about how they don't get the most out of their health benefits? Often, your employees may only need coverage for one or two medical services and can quickly use up their benefits.
Regardless of the size of your business, the wellness of your executive employees is essential. We understand - the effort it takes your business to recruit, develop, and retain executive talent is extensive. The cost of losing one of your executives or not properly looking after them and their health can be just as extensive and sometimes can have negative consequences.
Employee Benefits Team
Healthy and happy employees are your most important asset.
Without a group benefits plan, your employees are forced to pay for medical supplies, paramedical costs, hospital expenses, ambulance fees, vision, dental, orthodontic, and prescription drug expenses with after-tax income. Benefit packages can be customized to cover these expenses using before-tax dollars.
Group health plans utilize:
- Life Insurance
- Accidental Death and Dismemberment Insurance
- Short Term Disability Insurance
- Long Term Disability Insurance
- Critical Illness Insurance
Flexible and tailored employee benefits
What are the benefits to my business?
An employee benefits package is an excellent tool to communicate your corporate culture to current and future employees. Benefit plans allow employers to offer increased compensation to their employees in a tax-effective manner. Understanding your corporate philosophy on employee benefits will help maximize dollars spent and provide greater flexibility to your employees.
Providing a robust employee benefits package is an efficient way to attract and retain top talent in your field, boost morale, and maintain productivity. Today's savvy employees are looking for proactive health measures, wellness, and mental health support.
In addition to the most common benefits for group health packages, you can fully customize your company offering by supplementing your program with additional coverage such as the following:
- Administrative Services Only (ASO)
- Health Care Spending Accounts (HCSA)
- Lifestyle Spending Accounts (LSA)
- Flexible Spending Accounts (FSA)
- Employee and Family Assistance Programs (EFAP)
- Optional Benefits (Life, AD&D, CI)
- Medical Second Opinion (MSO)
- Executive Health Care
- Emergency Travel Assistance
- Virtual Telemedicine
- Group RRSP
Need an audit of your benefits?
In addition to the most common benefits for group health packages, you can fully customize your company offering. we will show you the optimal mix.