Providing an attractive employee benefit plan1 is key to hiring and keeping quality people. Whether your company has only a few staff members or you are a large complex organization, providing health benefits can be a key component in your employee's evaluation of your compensation program - and their future.
There are numerous advantages to providing a Group Benefits Plan for your employees.
- Your employees and their families are protected against financial problems resulting from unexpected health care and dental expenses.
- Your employees benefit from receiving tax-free* health coverage instead of paying their medical expenses with after tax dollars.
- The employer receives a tax deduction for all costs associated with the Group Benefits Plan.
- The employer benefits by providing employee benefits at a fixed cost and the plan is automatically administered by the insurance company.
- A group benefits program is a great way to provide extra compensation to valuable employees as an alternative to a fully taxable salary increase.
* Some restrictions apply – Contact our office for full details.
A wide variety of Employee Benefits can be provided via a Group Benefits Plan including:
- Life Insurance and Spousal/Dependant Coverage
- Accidental Death and Dismemberment
- Prescription Drug Coverage
- Paramedical Coverage (Chiropractors, Therapists, etc.)
- Group Pension Plans
- Group RRSP Plans
- Short Term Disability
- Long Term Disability
- Extended Healthcare/Visioncare
- Dental Coverage
- Out-Of-Country Emergency Medical (Travel)
- Critical Illness Insurance
Contact our office today if you have questions about a Group Benefits Plan for your company.
1Wikipedia
