Drug and Dental Benefits

 Employee Benefits:  Group Dental and Drug Plan from one to 30 Employees. 

In the current employment marketplace it is important that you recruit and retain the best personnel available. To help you achieve this it is becoming increasingly vital to offer your staff an excellent remuneration package that needs to incorporate a first class employee benefits scheme.

We are an independent firm of insurance brokers providing tailor made employee benefits packages to businesses with between 1 to 30 employees. We have developed a reputation for providing some of the most creative schemes available working closely with our clients both in setting up the scheme and providing an on-going, quality, professional level of service thereafter, ensuring that the scheme is regularly reviewed and updated when appropriate.

We have the experience and flexibility to put together a suitable employee benefits package for you ranging from a simple employee benefits schemes to one of the most comprehensive schemes possible.  Below are some of the potential components that can be included in your be-spoke package: -

Group Term Life Insurance 

There are two coverage options: -

Flat Amount: The amount chosen usually varies between $10,000 to $1,000,000 with increments from as little as $5,000.

Salary Based: The amount of coverage is usually in the range of 1 to 3 times earnings with a maximum of $1,000,000. This option provides increased flexibility enabling the coverage to be increased in line with inflation or when the employee’s circumstances change.

Coverage is also available for an employee’s spouse and children.

Premiums paid by you are taxed as a benefit to your employee but the benefits are not taxable.

Accidental Death and Dismemberment 

Should one of your employees die as a result of an accident twice the sum they are insured for under the Group Term Life Insurance coverage would pay out or, dependent upon the limb that has been dismembered, a lump sum would be payable.

Premiums paid by you are not taxed as a benefit to your employee but still provide cheap insurance and the proceeds are not taxable to the beneficiary.

Critical Illness Coverage

An increasing number of people are suffering and surviving critical illnesses such as heart attack, cancer and stroke. This option would pay out a lump sum to your employee to help make their life more comfortable after a critical illness. The proceeds could be used for such things as nursing care or adapting the home to enable wheel chair access and help with their rehabilitation often speeding up their recovery period and thus shortening their time away from the office.

Premiums paid by you are not taxed as a benefit to your employee and the proceeds are not taxable to the beneficiary.

Disability Coverage 

There are two coverage options: - 

Short Term Disability benefit – this will provide an employee with an income for a short period of time should he or she be unable to work through accident or illness after an elimination (waiting) period. This elimination period may usually be from 0 days or 14 days in the event of an accident and 3, 7 or 14 days in the event of sickness. The benefit period may usually be up to 15, 17 or 26 weeks. The benefit amount may usually be for 55%, 60%, 66.7%, 70% or 75% of weekly earned income.

Long Term Disability benefit – this will provide an employee with an income for a potentially longer period of time should he or she be unable to work through accident or illness after an elimination (waiting) period. The elimination period may usually be either 15, 17 or 26 weeks. The benefit period may usually be up to 2 years, 5 years or until age 65. The benefit amount may usually be for 60%, 66.7%, 70% or 75% of monthly earned income.

Premiums paid by you are not taxed as a benefit to your employee but the benefits are potentially subject to income tax by the employee.

Extended Health Care 

Several normal health care costs are not covered by the Ontario Health Insurance Plan (OHIP) so additional coverage is important. 

This benefit provides your employees and dependents with funds to meet numerous medical expenses such as providing cover for registered specialists like physiotherapists, osteopaths and chiropractors. Assistance towards the cost of ambulance transportation, private or semi private hospital accommodation, nursing care, prescription drugs, hearing aids, vision care and orthopaedic shoes.

Premiums paid by you are not taxed as a benefit to your employee.

Dental Care 

This coverage may provide your employees and their dependents with low cost dental insurance enabling them to arrange speedy treatment for such things as x rays, extractions, fillings, root canal therapy, restorative services, basic preventative care and polishing.

Premiums paid by you are not taxed as a benefit to your employee.

Travel Insurance

This coverage may provide your employees and family with cover for as many trips lasting up to 30 days for such things as transportation, paramedical, medical and hospital expenses for up to $5,000,000.

Vision Plan

This coverage provides employees with access to low cost eye exams plus significant discounts on the purchase of contact lenses and eyeglasses and for laser eye surgery.Premiums paid by you are not taxed as a benefit to your employee.

Best Doctors 

Should one of your employees or their dependents become seriously ill/injured they can telephone Best Doctors to be put in contact with specialists that are world renowned to seek confirmation of the correct diagnosis to help provide peace of mind.

The Way Forward

Contact us to arrange a face-to-face meeting that we will be happy to arrange at a time and place to suit you when we will discuss your Employee Benefits requirements in detail