Group Insurance Plans

Health and Dental Benefits As Low As $1/hour per Employee

Employee benefits which is also referred to as group insurance is an umbrella term often used to describe the many types of supplementary health insurance offered through employers, organizations, groups, trade and professional associations. While group insurance comes in many forms, everything from traditional group plans, pooled plans for small businesses, health and welfare trust style coverages, group insurance plans come with a number of advantages that make them the most popular health insurance options.

It’s the best way to provide health and dental insurance for your employees

First of all, let’s talk about why group insurance or employee benefits plans have been the preferred choice of supplementary health insurance for many working Canadians. The simple fact that insurance companies can generate more revenue by offering insurance to more people. Businesses, organizations, and professional groups provide insurers with fully assembled groups of customers, insurance providers are willing to negotiate lower group rates in exchange for the opportunity to gain customers on a larger scale. This has been a winning partnership for both the insurers and working Canadians because it is a mutually beneficial relationship.

Whether you’re an employee who has access to a group insurance offered by your employer, or you are a member of an organization, club, or association that offers group coverage, it pays to take advantage of group insurance opportunities.

  • Affordable – Group insurance rates are almost universally less expensive than comparable individual supplementary health insurance rates. Plan members also have access to higher spending limits for the coverages provided.
  • Manageable – Group insurance plans rarely have the same level of restrictions as individual plans. Many of the sticking points that can make individual plans so frustrating, like preexisting conditions, the addition of new family members, and restrictions based on poor health histories, are non-factors in a group insurance plans at enrollment.
  • Ideal– Group insurance is often provided by an employer, it’s not unusual for employers to pay a portion of (usually half the cost), or all of, the employees’ health insurance premiums as part of a larger benefits package. Premium dollars spent by an employer is tax-deductible and the employees or plan members receive the benefits tax-free.

There are just as many, if not more, advantages to group insurance or employee benefit plans if you’re an employer or the administrator of a qualifying organization.

  • Doing the right thing – In a climate where government health insurance is increasingly less accessible and costly for working families, providing employee benefits can be the difference between having proper extended health insurance and going uninsured for many of your employees, members, or associates for routine services (dental, vision, drugs, and paramedical).
  • Healthy employees make happy employees—Providing group insurance plan has many benefits from the perspective of improving productivity and boosting morale. Healthy and fully insured employees are generally more positive about their place of work and more loyal to their employers. Being healthier in general, it means less working hours lost to absenteeism and/or employee inefficiency due to illness.
  • Benefit plans as a recruiting tool – A quality benefit plan can be a great perk for potential employees or plan members, as well as having a positive impact in terms of retaining the employees and plan members that you already have.

Evaluating Your Group Insurance Plan Needs

The first step for any business owner, benefits plan administrator or decision maker is being realistic about how much you can afford to invest in a group insurance plan, and what your options are in light of those numbers.

Though 100% of the group insurance premiums paid by businesses and other groups are tax-deductible, it doesn’t change the fact that health care costs are a major expense for employers and other organizations. That said, it’s important to figure out what you can afford to spend on a group insurance plan for your employees, and then adjust your group health plan accordingly so that it doesn’t become a financial burden. The alternative is co-pay, meaning both the employer and employee pay for the premiums, often at a 50/50 arrangement.

You should also consider how much coverage you want, or need, to provide to your employees. Do you feel obligated to offer low-deductible, full coverage, comprehensive health care options, which can be more expensive or is a high deductible plan going to be satisfactory? Do you want to offer blanketed coverages, meaning one class, where everyone in the organization has access to the same benefits, or are multiple classes, such as executive/management and other employees going to be more suitable? It’s important to weigh altruistic tendencies against financial realities in choosing the best group insurance plan possible for your employees or participating members. The type of plan you opt for will have far reaching repercussions in both areas.

Last but not least, don’t let the bottom line prevent you from looking at the big picture when assessing the value of a group health insurance plan. Being realistic about finances is important, but so is taking into account intangibles such as the lost man-hours that can be recovered if you have healthier employees, the boost in morale and loyalty that can be gained by making high quality health coverage available to employees and members, and the value of a quality group health plan in attracting new employees and retaining present ones.

Types of Group Insurance Quotes We Provide

The cost of most group insurance plans vary based upon many factors, including:

  • Type of group insurance coverage;
  • Province where the business is located;
  • Number of employees to insure;
  • Age of the employees and dependents;
  • Occupation of the employees

While we provide default values for much of this information, we can provide you with more accurate quotes if you able to provide all of the information required to reflect your employees coverage needs.

Basic Health and Dental means a plan with 80% coverage for Extended Health Care which covers employees and their dependents for prescription drugs, paramedical services such as chiropractors and massage therapists, major medical and vision care.  Out of country travel is also covered at 100%. Dental is covered at 80% for routine (cleanings fillings, root canals, x-rays etc) and 50% for major (crowns, bridges and dentures). This plan doesn’t have any restrictions such as preexisting conditions or skimpy maximums found in other stand alone plans on the market. Depending on the carrier, there may be some token mandatory benefits such as life insurance in order to get health and dental.

Enhanced Health and Dental means a plan with 100% coverage for Extended Health Care which covers employees and their dependents for prescription drugs, paramedical services such as chiropractors and massage therapists, major medical and vision care. Out of country travel is also covered at 100%. Dental is covered at 100% for routine (cleanings fillings, root canals, x–rays etc) and 50% for major (crowns, bridges and dentures).. This plan doesn’t have any restrictions such as preexisting conditions or skimpy maximums found in other stand alone plans on the market. Depending on the carrier, there may be some token mandatory benefits such as life insurance in order to get health and dental.

Basic Health, Dental with Life and Disability means a plan with 80% coverage for Extended Health Care which covers employees and their dependents for prescription drugs, paramedical services such as chiropractors and massage therapists, major medical and vision care. Out of country travel is also covered at 100%. Dental is covered at 80% for routine (cleanings fillings, root canals, x-rays etc) and 50% for major (crowns, bridges and dentures). This plan doesn’t have any restrictions such as preexisting conditions or skimpy maximums found in other stand alone plans on the market. Other benefits quoted (but not mandatory) will include Life Insurance, AD&D, Dependent Life, Short and Long Term Disability and Critical Illness.

Enhanced Health, Dental with Life and Disability means a plan with 100% coverage for Extended Health Care which covers employees and their dependents for prescription drugs, paramedical services such as chiropractors and massage therapists, major medical and vision care. Out of country travel is also covered at 100%. Dental is covered at 100% for routine (cleanings fillings, root canals, x–rays etc) and 50% for major (crowns, bridges and dentures).. This plan doesn’t have any restrictions such as preexisting conditions or skimpy maximums found in other stand alone plans on the market. Depending on the carrier, there may be some token mandatory benefits such as life insurance in order to get health and dental Other benefits quoted (but not mandatory) will include Life Insurance, AD&D, Dependent Life, Short and Long Term Disability and Critical Illness.

As good as most group insurance plans are, they aren’t always perfect for businesses of all size. Small businesses such as incorporated family businesses, self-employed professionals and contractors, having a Health and Welfare Trust (HWT) or Health and Welfare Plan (HWP) may offer greater flexibility. HWT/HWP is a tax-free vehicle for financing a corporation’s healthcare costs for the business owners and their employees (if any).

If you’re self-employed or operating as a sole proprietor, you may qualify to purchase supplementary health plans for individuals, known as a Personal Health Services Plan (PHSP). These plans often mirror the features of full-blown group insurance plans but designed specifically to enhance access to extended health benefits for individuals and their dependents.

Supplementary Health Plans

Canada’s premier online insurance agency

12,806

POLICY HOLDERS

$2,311,150,500

UNDER MANAGEMENT

15

YEARS OF SERVICE

Comparing Online Quotes for Group Insurance

Whether you’re exploring group insurance options as an employer or organization, or you are a small business owner looking for supplementary plans to enhance your provincial health coverage, online insurance quote providers, like IDC Insurance, are the easiest way to find the best rates, coverages, and service at no charge to you. To get started, simply complete the Group Insurance Quotes form and one of our group benefit specialists will contact you with a complete analysis of all providers and quotes available in the marketplace for your business. Best of all, our service is free and it is in our best interest to deliver to you the most competitive offer possible. We make it our business to help your business.

Compare Group Benefit Quotes
  • More than just life insurance.
    0
  • TYPE OF INSURANCE*
    1
  • PROVINCE*
    2
  • # of Employees*
    3
  • First Name*
    4
  • Phone*
    5
  • 6
  • or Call 1-888-767-6576 Mon - Sat 9am - 6pm
    7
  • 8

How may we help you?

Don't find what you need? Please drop us a line...

Sending
NEED HELP? Give us a call at 1-888-767-6576 © 2000-2017 INSURANCEDIRECTCANADA.ca, an e-commerce brand/property of IDC INSURANCE DIRECT CANADA INC. All rights reserved.

All product names, trademarks, and trade names are the property of their respective owners. The Insurance Council (BC, AB, SK, MB), Financial Services Commission (ON), Chambre de la Sécurité Financière (QC), The Superintendent of Insurance (NB, NL, PE, NS) are the provincial and federal authorities that regulate, supervise and enforce standards for life insurance professionals.

I would like to...

Log in with your credentials

Forgot your details?