By investing in your employees’ health, you are demonstrating that you care and that your organization has strong moral values which contributes to positive corporate culture and employee morale which increase productivity and loyalty.
For a basic health and dental plan with 80% coverage on prescription drugs, 80% coverage on paramedical practitioners, and 80% coverage on basic and preventative dental, the cost ranges from $65 – $125/month for single employees. The cost varies depending on the demographics of the company. The younger the average age of your employees, the lower your rates will be.
Employee benefit plans are one of the most flexible programs you can implement. You choose the coverages you want to offer; some employers only offer health, some only dental, some life insurance, and some no life insurance. Some offer only a health spending account which gives each employee a specific amount of money each year to spend how they want.
As an employer you also have the option of how much you want to pay for your employee’s benefits. For example, many employers will split the cost 50/50 so they are paying half of the premium and the other half is being deducted from the employee’s paycheque.
For companies with 3 or more employees there is no medical underwriting. This means that every employee is automatically approved onto the plan regardless of their health. This is a huge benefit for employees that have health issues because it is very difficult and perhaps impossible for them to get coverage on their own.
If you are interested in learning more about plan designs and cost please give us a call.
Consultations are free and as Brokers, there is no charge to work with us.
Desirée 778 245 2262