Questions with Answers
Why would your company want to add health benefits for employees?
- It is a very competitive job market in Canada
- Unemployment is at record lows
- Competition for quality people is fierce
Attract quality employees that set your business ahead of the competition, and more importantly, keep those valued employees. A health benefits plan is part of a fair employee compensation package that sets your business apart.
Are health benefits expensive and do they increase every year?
The plan that has been prepared for was designed with two key elements in mind:
- Provide a good supplement to pay for items not included in provincial health care
- Limits to the amount of claims which keep the plan affordable
We use pooling of benefits which helps secure competitive insurance rates and provide better plans because we have a larger buying power.
How does is the plan paid for?
The plan is payable on the 1st of every month. Payment is set up as a Pre Authorized Debit (PAD) directly from your bank.
Who can be covered, and when?
All employees who are full time, and have been employed for 90 days can be covered. Employees must have a valid provincial health card.
What if one employee doesn’t want to be on the plan?
All employees must be signed up on the plan (which means they all get life insurance), and they can opt out of the health care if a spouse or partner is covered with another plan at their place of work. We would ask for verification that there is another health plan in place for that employee.
What about disability coverage?
Long Term Disability (LTD) coverage can be added to your plan, however, it must be added for all employees at your store. Our insurance carriers cannot provide LTD coverage in a group based plan for only one person. We can put a customized personal Disability Insurance plan in place for one person if required.
Can you get Critical Illness coverage as well?
Our plans do include a basic amount of Critical Illness coverage that is part of the AD & D portion of the plan. We can create a personalized Critical Illness plan for individuals who want more coverage.
How easy is it to use the benefits plan?
Each employee will have a health card, and they show the card at the pharmacy or dentists office. The employee pays the difference (15%, 20% or 25%) at the location, and the plan covers the remainder. Other claims would be a form that is filled out and sent in for reimbursement.
What if we hire someone new, or someone leaves?
For a new hire, you simply let us know their info, and when they were hired, and their benefits will start 90 days from date of hire. If someone leaves, just let us know the effective date, and their coverage will stop at that point. Changes would be reflected in the monthly billing.
What if we have a problem with a claim?
Contact us. We will research why the claim was denied, or only partially paid, and get you an explanation, or if there has been an error, get that corrected for you.
How can you help with a group RRSP plan?
Traditionally, group RRSP plans could not be set up for groups of less than 10 employees, however ASSOCIUM has the ability to offer RRSP contribution plans to groups as small as a single employee. You get the lower costs associated with group RRSP plans of many employees, and the flexibility of choosing the investment strategy that works for you.
We already have a benefits plan in place. What can we do? Can we still get a quote?
Absolutely! We can prepare a quote for you, and compare how our plans compares to what you currently have. If you decide that our plan not only offers cost advantage, as well as better value, then you can switch providers. It’s not necessary to wait until a renewal to change your current plan. We can help you with putting the change in place.
Is it possible to customize the plan?
Yes, and no. In a group health plan scenario, we are able to keep costs reasonable, and consistent from year to year by not having too many options to select from. However, one thing that you can add to your health plan would be a Health Care Spending Account (HCSA). That is an amount, that is decided upon by the employer, that an employee can use at their discretion to pay for things that are not included in the benefits plan. For example, a person who wears glasses or contacts could use part of their Health Care Spending Account to pay for new eyewear, or, someone who needs more chiropractic care, or even dental work that is beyond the scope of the plan could use the HCSA for those costs. Please ask for more information to see if adding a HCSA is right for you.