Group benefits and employee benefits are wonderful strategies to attract and retain key employees while also providing significant benefit to your employees in Ontario.

Employer-sponsored group benefits programs can assist companies in providing their employees with more than just medication and dental care. As a specialist insurance broker, we will assist you in developing a group benefits plan that is tailored particularly to the needs of your organization and its employees.

What is Group Benefit Insurance?

Group benefit insurance is a type of insurance that is provided to a group of individuals, typically through an employer. These benefits can include health insurance, life insurance, disability insurance, and other types of coverage. The main advantage of group benefits insurance is that it allows employees to access insurance at a lower cost than they would be able to individually. This is because group insurance plans are able to negotiate lower rates with insurance providers than individual plans. Additionally, group benefits insurance can also provide employees with more comprehensive coverage than they would be able to get on their own. Employers typically pay a portion of the premium for group insurance, and employees may be required to contribute as well. This helps the employees to be financially prepared for the unexpected.

Group Benefits Offering a robust group benefits program is critical for retaining employees and keeping them engaged, healthy, and respected. Employers typically hire a group insurance provider to insure plan participants, pay claims, and manage the various components of the program when they sponsor a group benefits plan.

Group benefits plans are frequently tailored to the needs of the business and can include benefits such as:

Extended Health Care (EHC)

The EHC benefit reimburses eligible medical expenses that are not covered by an employee’s provincial plan (i.e., OHIP). Examples of this are, prescription drug coverage, vision care, hospital care, medical services and equipment, paramedical services, and assistance with out-of-province emergency travel.

Group Life Insurance

If a plan member dies while enrolled, their family receives the group life insurance benefits. The benefit is usually calculated as a multiple of the plan member’s earnings or as a fixed sum.

Accidental Death & Dismemberment (AD&D) Insurance

If an employee is injured in an accident and becomes paralyzed or loses their hearing, vision, or ability to speak, the accidental death and dismemberment (AD&D) benefit compensates them. Furthermore, the benefit would be given to the employee’s family in the event of an unexpected death.

Dental Care Coverage

This benefit covers your employees’ preventative and diagnostic dental care.

Disability Benefit Plans

‍If a plan member becomes ill or hurt and is unable to work, the disability benefit is intended to replace a portion of their income.

Additional Benefits

• Vision Care
• Paramedic Services
• Travel Insurance
• Hospital Coverage
• Employee Assistance Plan (EAP)
• Plus more!

Provincial plans like OHIP only offer a limited range of insurance coverage.  Group benefit plans offer extended healthcare benefits that are appealing especially to those with families and as a result, the help attract and keep talented employees.

To find out more about the benefits of Group Benefits Insurance, get in touch with one of our group benefits experts.