RSSCategory: Group Benefits

Time for Taxable Benefits

It’s that time of year to review all of the employee benefits you provide to employees and ensure that you are compliant with all taxable benefit provisions. Such employee benefits as company-paid life insurance and AD&D, in addition to Health and Dental coverage in Quebec and perquisites such as car allowances are all considered taxable benefits.

Flexible Benefit Program Mechanics

A discussion of each of the different types of Flexible Benefits programs including Add-On, Opt up/down, Modular, Core Plus Options, Flexible (Cafeteria), Health Care Spending Accounts. Adverse selection is defined and a number of options to help reduce or minimize the impact of Adverse Selection within a Flexible Benefits program are outlined.

Group Dental Insurance

A discussion of typical coverage, practices and the practical application of group dental insurance coverage included in Canadian employer group benefit plans.

What is Group Insurance and Why Should You Provide it?

A discussion of Group Insurance, typical Group Insurance coverage in the Canadian marketplace, the advantages of providing a Group insurance plan and the conditions and elements needed to arrange a Group Insurance policy

Group Health Insurance – Medical Supplies and Services

Almost all group insurance health plans provide coverage for medical supplies and services to assist employees recovering/living with a disability due to illness or injury. These benefits provide coverage for the purchase, rental and repair for devices such as wheelchairs, crutches, elastic stockings and orthopedic shoes. These benefits are included under the provisions of a health care plan and are typically subject to any applicable deductible or coinsurance provisions.

Group Health Insurance – Hospital

Group health insurance plans cover most of the basic hospital and surgical expenses in Canada that any resident incurs during a period of hospital confinement, including accommodation at the ward level, the services of a doctor/surgeon, diagnostic procedures and drugs. Employer-sponsored hospital benefits plans cover only the additional cost of preferred accommodation such as semi-private or private, during hospital treatment in Canada

Group Health Insurance – Out of Country

A description of the out-of-country coverage typically provided within a group health insurance plan, covering employees for limited travel either outside of their province of residence, or out of the country. Coverage typically includes protection for both personal and business travel for 60, 90, or 120 days up to a one million in coverage (lifetime) per covered individual.

Group Health Insurance – Vision

Vision benefits, coverage for eye exams, lenses, frames and contacts, typically account for between 5% and 7% of a group health insurance program. Vision benefits typically have a very high perceived value to employees, usually higher than the actual cost of providing vision benefits. More recently, group health insurance plans have expanded provisions to include coverage for laser eye surgery, which has become more common place as technology has advanced and pricing has decreased.

How A Claim is Defined

A discussion of how a claim is defined by benefit category – Life Insurance, Accidental Death and Dismemberment Insurance, Critical Illness, Short Term Disability, Long Term Disability, Health and Dental – who it applies to, and general commentary surrounding market prevalence

Group Health Insurance – Deductibles, Coinsurance and Out-of-Pocket Maximums

A tutorial highlighting the coinsurance, deductibles and out-of-pocket maximums that are used within Group Health Insurance plans as strategic levers in limiting utilization and sharing program costs with employees.