Employee Group Benefits

Attract, retain, and maintain a healthy and productive workforce with an employee group benefits plan.

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What are employee group benefits plans?

An Employee Group Benefits Plan is a crucial investment in your business's most important asset—your employees. By offering a well-rounded benefits package, you not only attract and retain superior talent but also cultivate a stable, healthy, and dedicated workforce. These plans play a pivotal role in supporting your employees through various life events.

Group benefits plans efficiently combine essential benefits such as life, health, dental, disability and critical illness insurance, and help facilitate the seamless addition of new employees as your business grows.

Custom Fit

Create a benefits plan that precisely meets your business and employee needs.

Cost-Efficient

Ensure long-term affordability with sustainable, cost-effective coverage.

Easy Online Management

Streamline management with efficient online enrolment and billing.

Wellness Emphasis

Boost health and productivity with integrated wellness initiatives.

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Is an Employee Group Benefits Plan Suitable for Your Business?

Seek Talent Acquisition and Retention: If your goal is to attract skilled professionals and keep them long-term, offering a comprehensive benefits plan can be a significant draw.
Need Operational Flexibility: Ideal for businesses requiring the agility to add or remove employees from their plans swiftly and without hassle, accommodating fluctuating staffing needs.
Are in a Growth Phase: For businesses experiencing growth, these plans offer a streamlined approach to expanding the workforce while simultaneously providing benefits.
Have Benefit-Valuing Employees: Particularly beneficial if your workforce places a high value on health and wellness benefits, enhancing overall job satisfaction and employee well-being.

Group Plans 101

How do employee group benefits work?

Group Benefits Plans are engineered for seamless employee onboarding, significantly reducing HR complexities. They provide quick and straightforward access to benefits for employees, thanks to their blanket coverage approach. This means coverage levels are predetermined by set formulas, with each employee receiving a detailed certificate outlining their specific coverage amounts.

Because the employees within an organization are a mix of both healthy and less healthy individuals, for insurers to offer comprehensive coverage to all and maintain profitability, it's essential to have 100% employee participation. This complete enrollment allows insurers to apply statistical models for predicting claims and determining the cost of coverage for the employer.

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Potential Benefits

What types of benefits can be part of an employee group benefits plan?

Employee Group Benefits Plans can encompass a wide range of options, such as:

Prescription Drug Coverage: Ensuring employees have access to necessary medications.
Dental Care: Comprehensive dental services from routine check-ups to complex procedures.
Extended Health Care & Paramedical Services: Covering additional health services like physiotherapy, chiropractic care, and more.
Vision Care: Support for eye health, including exams, glasses, and contact lenses.
Life Insurance: Providing financial security for employees' families in the event of unforeseen circumstances.
Disability Insurance (Short and Long Term): Protecting employees' income during periods of disability.
Critical Illness Insurance: Offering financial support during serious health crises.
Health Spending Accounts: Flexible accounts for various health-related expenses.
Employee Assistance Plans (EAP): Access to counseling and support services for personal and work-related challenges.
Wellness Programs: Initiatives focused on promoting overall health and well-being.
Executive Packages: Tailored benefit packages for high-level executives.
Retirement Savings Products: Tools to aid employees in planning for their retirement.

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Frequently asked questions

Answers to key questions about Employee Group Benefits

Are Employee Group Benefits mandatory for Canadian employers?

No, offering Employee Group Benefits is not mandatory for Canadian employers. However, many businesses provide them to attract and retain talent, as they are a significant part of employee compensation packages.

Can part-time employees in Canada access Group Benefits?

Some Canadian employers extend group benefits to part-time employees, but this is not universal. Eligibility criteria, such as minimum hours worked or length of service, may apply.

What is the minimum number of employees required for a company in Canada to be eligible for an employee group benefits plan?

In Canada, even small businesses can have an employee group benefits plan. The minimum size for a company to be eligible for a group benefits plan can be as few as two or three employees, including the owner. This threshold varies depending on the insurance provider. Some insurers specialize in small business plans and offer flexible options tailored to smaller groups. It's important for small businesses to shop around and consult with insurance brokers or providers to find a plan that suits their specific needs and size.