Qualification for Group Benefits (Small Business)
Who is eligible?
- Businesses with 2 to 50 employees. (some companies will request medical evidence of insurability for groups with 2-3 lives, consult us)
- Employees that are actively working for the policyholder or any associated company on a full time basis at the employee’s usual place of work in Canada.
Employees may waive Extended Health Care and/or Dental care benefits under certain circumstances.
Valid reasons to waive Health and/or Dental benefits include:
- spousal coverage exists
- coverage exists through social assistance
- coverage exists through another and/or previous employer (i.e., severance package, retirement package)
- armed forces, reserve forces coverage
- Indian status
- Alberta Blue Cross Group 66 coverage
- union coverage
- a student has benefit coverage through university/college
- decrease in spousal coverage
- dental only: spouse works for dental office and obtains free dental services
- Health only: if spouse is over age 65 and has coverage through RAMQ
Type of benefit plans
Plans could include the following benefits: health care ( drugs, paramedical practitioners, hospital, out of country travel, vision care, medical services and supplies, private duty nursing), dental care, life, accidental death and dismemberment, dependent life, short term disability, long term disability and critical illness.
A combination of benefits can be used, depending on your needs.
Group benefit plans can have annual deductibles, out-of-pocket amounts, different maximums and separate types of coverage based on employee classification.
What we can do for you
Many small business owners are too busy growing their business to spend time looking after their personal wealth. Others put all their eggs in one basket, relying too heavily on the equity they have built in their business as their ticket to a comfortable retirement.
Along with greater independence and the increased earnings potential that self-employment can provide comes financial risk. If their enterprise fails or they succumb to a disability, many small business owners are on their own.
Small business owners face a unique set of challenges where the lines are often blurred between business requirements and personal financial goals. Taking a holistic approach ensures that both business and personal plans complement each other.
To bring their best to work, employees need to be physically, mentally and financially healthy. Through our ongoing research, our goal is to help employers of all sizes come to a deeper understanding of the connection between employee health, wealth and their company’s success.
This is where a financial advisor comes in, adding the much needed support and advice for all of the above, including group benefits coverage for your business.
We will review your needs and expectations, and request quotations from insurers. We will review the plans with you and make the necessary changes, based on your needs and budget.
We will handle implementing the plan with the chosen insurer and guide you through the administration of the plan, the renewal process and everything else related to a smooth experience.