Why Small Businesses Need Group Benefits
Have you ever heard of the old saying ‘good help is hard to find’? We’ll, it’s never been truer than it is right now (especially for small business). With mega-companies, like Amazon and Facebook, starting to physically expand into Canadian cities, it’s important that small businesses do what they can to attract and retain talent – a good benefits plan can accomplish this.
What are Group Benefits?
Group Benefits is an extended healthcare plan put together for a specific set of people (like staff). The policy pools everyone together, which allows for an easier (and cheaper) underwriting process. By underwriting staffers all together, it secures insurance for the healthy and the not-so-healthy and gives everyone the opportunity to receive the best healthcare options. Even though Canadians have good healthcare, a lot of services carry significant costs (which can be taken care of through benefits).
How Does It Work?
A good place to start is to ask all of your staff which coverage items are important to them (dental, drugs, chiro, etc). Once you have an idea of where everyone’s interest lies, you can speak with your Alteri agent to put together a customized plan. Once the plan is in place, your staff can claim their receipts directly off an online application. A welcome kit, and digital claim card, is sent to all plan members following initiation of the policy.
What can be included in the plan?
Group benefits can be very customized, from varying deductibles to different minimums and maximums. Some of the main categories are:
- Life Insurance
- Accidental Death & Dismemberment
- Long-term Disability
- Dental
- Vision
- Drugs
- Paramedical (coverage for chiro, RMT, physio, naturopath, etc)
- Travel Emergency Medical
- Mental Health Support
Why do I need them?
Like we stated above, today’s business environment is extremely competitive, and sourcing (and retaining) new talent is difficult. When you put a solid benefits plan in place, it adds that competitive edge when competing against other corporations.
How can I get started?
Call an Alteri agent today! Or email us at info@alteri.ca so we can help you find the right plan for you and your staff.