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Group Benefits 101

Group Benefits 101

As an employer, you want to provide your employees with more than just a salary.  You want to give them an employment package.  An employee benefits plan is a simple, sustainable way you can give something more.

What are group benefits?

Group benefits plans are offered to employees by their employers as part of an employment package.  These plans are completely customizable to suit the company‚Äôs wishes, offering one or more of the following six components:

  • Life and Accidental Death and Dismemberment Insurance
  • Short Term Disability Insurance
  • Long Term Disability Insurance
  • Critical Illness Insurance
  • Extended Healthcare Benefits
  • Dental Benefits

Though the other portions are still valued by employees, when they ask about benefits employees are generally referring specifically to health, dental, and vision coverage.

What is generally included in the health benefits portion of the plan?

When most people think of health benefits, they tend to think mainly of the prescription drug portion of the plan.  However, there are a variety of other health care issues that are covered in this portion of the plan, including:

  • Professional services, such as chiropractors, psychologists, massage therapy, etc.
  • Semi-private hospital coverage
  • Home care nursing
  • Paramedical supplies
  • Out of province medical protection
  • Vision care

What is normally covered under the dental portion of the benefit program?

Levels of dental coverage that can be purchased as part of a benefits package are divided into three categories:

1. Basic and preventative:  This includes any treatments which are basic to the health of your teeth, including cleaning, fillings, and x-rays.

2. Major and restorative:  This option covers other, more serious treatments, including caps and crowns.

3. Orthodontics:  Plans do not often offer this type of coverage today.  When it is offered, it usually offers a 50% deductible and a cap on benefits payable.

Why should an employer offer group benefits?

Businesses who offer group benefits programs are supporting employee retention by rewarding long term, employees with something more than a basic salary.  They are also enhancing talent attraction, by offering something more.  Benefits plans provide protection for employees and their families from the unexpected.  These plans help company employees to feel valued.