Providing an attractive employee benefit plan 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.
Copyright © 2015 AdvisorNet Communications Inc. All rights reserved. This article is provided for informational purposes only and is not intended to provide specific financial advice. It is strongly recommended that the reader seek qualified professional advice before making any financial decisions based on anything discussed in this article. This article is not to be copied or republished in any format for any reason without the written permission of the AdvisorNet Communications. The publisher does not guarantee the accuracy of the information and is not liable in any way for any error or omission.