Hamilton Group Benefit Plan

Hamilton Group Benefits Plan Advantages

The advantages of providing a Hamilton Group Benefit Plan for your employees:

1. The Hamilton group benefit plan would protect your employees and their families against financial problems that may occur as a result of unexpected health and dental expenses.
2. Employees will benefit from the tax-free health coverage benefit offered by the Hamilton group benefit plan.
3. Furthermore, employers will receive a tax deduction in all costs associated with the Hamilton group benefit plan.
4. The Hamilton employee benefits program is provided by employers at a fixed cost and the plan is administered automatically by an insurance company.
5. Hamilton group benefit plan gives an option to employers for compensating their employees rather than increasing their taxable salary.

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Hamilton Group Benefits Plan Benefits

Employers provide a number of benefits to their employees through the Hamilton group benefit plan. Some of these 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

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Hamilton Group Benefits Plan Package

With the increasing complexity and flexibility of Hamilton employee benefits program, it is very important for employers to hire professionals that will help them to set up such a benefit program to ensure the required outcomes, avoid growing liabilities and prevent the problem of steep costs.

The service of brokers and consultants are also highly needed to help employers in defining competitive benefits program with reduced costs. The consultants will help you to get the best value from your investment by providing relevant data and expert guidance. It is recommended that you obtain at least three different proposals to evaluate the costs from a different perspective before proceeding.

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Hamilton Group Benefits Plan Savings

When creating the Hamilton employee benefits program, employers leverage several strategies to minimize cost in the long term. These include the following:

1. Adding deductibles into the coverage.
2. Sharing the premium between the company and the employee.
3. Considering the level of coverage or co-insurance.
4. Limiting the amount on each coverage, and
5. Reducing carry-over of unused sick days.

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Hamilton Group Benefit Plan News

Before January 1, 2019, Ontario workers get ten personal emergency leave days in a year, while two of these leave days are paid, eight others are not. In any of the first ten days of absence in a calendar year, employers are not allowed to request a doctor’s note from the employees.

However, the new provincial government is changing all that. From January 1, 2019, none of the leave days will be paid. However, you are allowed to take three days for family responsibilities, three days for personal illness and two days for bereavement leave, making eight days.

In the actual sense, employers will not be tracking whether the days are used for the actual reasons. Since the days are not paid, there are consequences for taking them off. Of course, some employers can actually track the leave usage, but many of them will only direct their attention to employees who miss a lot of work persistently.

The legislation does not change some things. For instance, some employers provide sick pay as an employee benefit. Sick pay could be five, ten or even up to six months but employers can demand doctor’s note before granting sick pay. However, after January 1, there is no law that requires sick pay even after two days and the employer can even pend a condition on the benefit.

To learn more about the Hamilton group benefit plan, click here.