Last updated on February 13th, 2020 at 01:07 pm
Choose a group benefits package to protect your company and employees.
The vast majority (91%) of plan sponsors agree that health benefits are an important part of employee attraction and retention efforts.
Group insurance is a health care coverage plan in which individual employees or members are included under one master policy owned by their employers. Because the plan has so many contributors, the policy often provides coverage for more services at a much lower cost per participant.
Group plan can be financed through a payroll deduction but in some cases the entire cost is absorbed by employer. Due to lower costs, group plans’ coverage can be very comprehensive.
There are several reasons employers choose to have their employees covered under a group plan:
|Improve Employee Retention and Attract New TalentGenerous medical benefits attract employees, contribute to their work satisfaction and productivity. Make your group plan work for those who work for you and give your business a boost.|
|Group Medical Plans are Tax EfficientIf you don’t have one in place your employees have to pay for their health care with after tax income. Properly structured group plan allows those expenses to be covered on a before-tax basis. This is one of the reasons why employees prefer a benefits package over a salary raise- it saves them money.|
|Improve Your Employees’ Financial SecurityEven Canadian Health Care system doesn’t cover everything. Without health benefits at work, some treatments can cost as much as $500,000 per year! A well designed group benefit plan protects your employees in various situations: protecting disabled or families of those who passed away or fallen sick, providing drug coverage and dental benefits.|
At least half of the insurance premiums should be covered by the employer.
Employers often choose to add a deductible to lower the price of insurance. A Special Health Care Trust can lower your insurance premiums and cover all medical expenses on treatment. It only takes a small fee to set it up.
Many employees see group insurance coverage as a major perk for faithful company service. Extended coverage for spouses and dependents also brings peace of mind and a feeling of security.
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At Arbetov Insurance we can help you find exactly the kind of insurance you need. We work with all insurance companies in Canada and have a great deal of expertise in insurance business. We can also assist you with buying extended health, dental, and travel insurance. To use our rate calculator to find the best quotes please visit our website: Arbetov Insurance. You can also email or call our office if you have any questions at
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Arbetov Insurance and Wealth Management, Inc.
640 West Broadway
Vancouver, BC V5Z 1G4
Toll Free: 1.877.211.4301
email: [email protected]
To understand your insurance policy, please check the policy wording for exclusions, conditions, and limitations. It is highly advisable you contact our representative so that we can suggest the best policy for you.#insurance | #savings