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Employee Group Benefit Plan Options
Employee Group Benefit Plan Options
Bruce A. Hollett & Associates will only work with Insurance companies that offer choice. No two businesses are the same…so why should your benefit plan? Below are some of the plan options available with traditional programs, along with some additional options.
Life Insurance
Life Insurance provides coverage in the event of an employee's death with 24 hour coverage. Options for Life insurance include flat benefit amounts or amounts linked to annual earnings.
Accidental Death & Dismemberment (AD&D)
This benefit is paid in the event that an employee's death is the result of an accident, or if an employee suffers the loss of use of any one of a number of limbs or body parts. Coverage typically mirrors the amount offered by the group life insurance policy.
Dependent Life Insurance
Dependent Life Insurance is coverage in the event of the death of an employee's spouse or dependent children. The Benefit payable is a fixed amount and based on the coverage level chosen.
Critical Illness
A diagnosis of a critical illness can be devastating and financially crippling. The critical illness benefit will pay a flat amount to an employee and/or Spouse & Dependent in the event that they are diagnosed with any one of a number of major critical illnesses.
Short Term Disability
A percentage of an employee's income is paid as a result of a disability caused by an accident or sickness. Payment periods are determined by the employer, a common payment period is four months.
Long Term Disability
A percentage of an employee's income is paid as a result of a disability caused by an accident or sickness. This benefit is paid after short term disability or EI disability benefits have been exhausted. Payment periods are determined by the employer, either a set number of years or to age 65.
Health Care
This benefit assists employees and their dependents pay for necessary medical expenses not covered by their provincial medical plan. There's a choice of deductibles that employees pay before the benefit kicks in, and also a choice of reimbursement levels. Some covered services have annual maximums.
Extended Health Care coverage includes:
- Prescription drugs with Pay Direct Drug Card
- Hospital accommodation - Semi Private or Private
- Medical services and equipment, including:
- private duty nursing
- ambulances
- laboratory tests
- artificial limbs
- hearing aids
- smoking cessation
- fertility drugs
- covering certain licensed paramedical specialists such as chiropractors, podiatrists, psychologists and masseurs.
- Emergency travel assistance, which includes doctors' services, hospital expenses, emergency medical transportation and family support services, when employees are travelling out of the province or country and have a medical emergency.
- Vision care coverage
Dental Care
Dental programs are available to companies of all sizes. Basic coverage can include exams, basic restorative procedures, periodontal and endodontic services (including root canals), and repairing, rebasing and relining dentures
Major dental benefits include crowns, on-lays and major restorative services. Children's orthodontics can be covered as well. Each plan is specifically tailored to the needs of your company and its employees.
Addition Benefits & Program Options
- Flexible Benefit Plans
- Medical Savings accounts
- Cost Plus
- Special Risk policies
- Executive Benefits
- Employee Assistance Programs / Wellness Programs
- Optional Life/ AD&D/& Dependent life coverage – Guaranteed Issue
- ASO – Self Insured Plans