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Halifax Group Benefit Plan

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Halifax Group Benefit Plan: The Coverage Overview

Halifax Group Benefit Plan Overview

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As the workplace becomes more competitive, employers need a robust Halifax group benefit plan to continue attracting, hiring and keeping quality employees. Such an employee benefits program will ensure security and peace of mind to your employees and it is suitable for you no matter the size or scope of your organization.

With the Halifax group benefits plan, you can protect yourself and your employees without any extra cost and at the same ensure that employees are retained. This will also guarantee that employees maintain their health insurance even after leaving the company.

To get an immediate Halifax group benefit plan quote, click here.

Halifax Group Benefit Plan Details

Halifax Group Benefits Plan Advantages

The advantages of Providing a Halifax Group Benefit Plan for your employees

  1. The benefits plan protects your employees and their families against financial problems that may be caused by unexpected health and dental expenses.
  2. Instead of paying medical costs with after-tax dollars, your employees will receive tax-free health coverage from the Halifax employee benefits program.
  3. The employer will receive a tax deduction on all costs associated with the Halifax group benefit plan.
  4. The employer can provide Halifax employee benefits program at a fixed cost and the plan is administered by an insurance company automatically.
  5. Employers can also provide extra compensation to their employees through the Halifax group benefit plan rather than increasing their taxable salary.

To learn more about Halifax group benefit plan, click here.

Halifax Group Benefits Plan Benefits

Halifax group benefit plan offers several benefits to employees. These benefits include the following:

  1. Life Insurance and Spousal/Dependant Coverage
  2. Accidental Death and Dismemberment
  3. Prescription Drug Coverage
  4. Paramedical Coverage (Chiropractors, Therapists, etc.)
  5. Group Pension Plans
  6. Group RRSP Plans
  7. Short Term Disability
  8. Long Term Disability
  9. Extended Healthcare/Visioncare
  10. Dental Coverage
  11. Out-Of-Country Emergency Medical (Travel)
  12. Critical Illness Insurance

To get an immediate Halifax group benefit plan quote, click here.

Halifax Group Benefits Plan Package

With the increasing complexity and flexibility of Halifax employee benefits program, it is becoming important now more than ever for employers to seek the help of professionals to help them go through the process of setting up such a program. Such professional service will help a business to minimize growing liabilities and to avoid steep costs.

Also, businesses need the service of a broker or consultant to define benefits program with minimal cost. The service of consultants is required for providing relevant data and expert guidance that will guarantee that you get the best result from your investment. It is also required that you get a minimum of three proposals before opting for a benefits program. This will help you to get the best value and evaluate the costs from multiple perspectives before deep diving.

To learn more about Halifax group benefit plan legislation, click here.

Halifax Group Benefits Related Pages

Halifax Group Benefits Plan Savings

Several strategies are leveraged by employers to lower expenses in the long-term when designing Halifax employee benefits program. These include the following:

  1. Sharing the cost of premium between the company and the employee.
  2. Adding deductibles to the coverage.
  3. Considering the level of coverage or co-insurance.
  4. Reducing carry-over of unused sick days, and
  5. Capping the coverage at some limit.

To learn about Halifax group benefit plan, click here.

Halifax Group Benefit Plan News

The province of Nova Scotia is proposing measures to manage and protect defined benefit pension plans. Under the Pension Act, the Liberal government introduced changes on Tuesday, March 12, that will ensure reversed accounts, eliminate limits on the use of letters of credit and give room for the discharge of liability for annuity buyouts allowing employees to move their pension assets to insurance companies.

According to Finance Minister Karen Casey, the goal is to help to ensure that defined-benefit plans are solvent by providing stability and flexibility to employees while also ensuring that existing benefits for employees are transparent and protected.

Casey further added that the changes are due to the feedback obtained from employers and employees during a regulatory framework review in September 2017.

According to the government, about 92,000 Nova Scotians belong to about 132 defined-benefit pension plans registered in the province. Moreover, pensions for members of the legislature and civil servants are regulated under a separate piece of legislation and the changes do not apply to such pension plans.

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Halifax Group Benefit Plan FAQ

What is a group benefits plan?

With a group insurance plan, employers can provide group benefits to their employees as a compensation package. This is usually outside the benefits program provided by the government.

Can my employer take away benefits?

Of course, a company can take away the group benefit without informing the employees but this is considered as a poor business decision. However, employees can also protect their benefits with federal or state law and by leveraging an employment agreement.

Do you have to give full-time employees benefits?

Employers are expected to provide group benefit to their full-time employees but there is no law that requires that; however, they are not required to provide health coverage to their part-time employees but some employers still offer benefits to their employees whether full or part-time.

What are the four major types of employee benefits?

There are four major Halifax group benefit plans offered by most employers. These include medical insurance, retirement plans, life insurance, and disability insurance.

To get an immediate Halifax group benefit plan quote, click here.