Markham Group Benefit Plan

Markham Group Benefit Plan: The Coverage Overview
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Markham group benefit plan is one of the most important keys companies need to hire and retain quality employees. With an employee benefits program, your employees will have peace of mind and security that will allow them to focus completely on your business and deliver untold results. This is necessary no matter the size of your organization as it helps in your employees’ evaluation of your compensation program and also their future.

Furthermore, with Markham employee benefits program, you can protect your employees as well as your business without incurring any additional cost and at the same time retain a quality workforce. Depending on the structure and constituents of the program, your employees may be able to maintain their health coverage even after leaving your company.

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Markham Group Benefit Plan Details

Markham Group Benefits Plan Advantages

The advantages of Providing a Markham Group Benefit Plan for your employees:

  1. Markham group benefit plan provides a way to offer tax-free health coverage to your employees.
  2. The employer benefits by providing Markham employee benefits program at a fixed cost and the plan is administered by an insurance company.
  3. Your employees and their families will be protected against financial issues that could result from unexpected health or dental expenses.
  4. The employer will get a tax deduction in all cost associated with the Markham group benefit plan
  5. You can leverage the Markham employee benefits program to provide extra compensation to your employees instead of increasing their taxable salary.

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Markham Group Benefits Plan Benefits

Markham employers provide several benefits to their employees through the Markham group benefit plan. Some of these benefits are as follows:

  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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Markham Group Benefits Plan Package

With the increasing complexity and flexibility of the employee benefits program, employers are required to seek the help of experienced professionals that will help them to set up such a benefit program. This will help you to avoid running into growing liabilities and steep costs.

Also, you need the service of brokers and benefits consultants to define competitive benefits program at low cost. The brokers or consultants are paid by the insurance company and will be able to offer you the service at little or no cost. The service is necessary to obtain relevant data and expert guidance to get the desired outcome in your benefits investment.

You also need to get at least three proposals in order to evaluate the value and costs from various perspectives before opting for it.

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Group Benefits Related Pages

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Markham Group Benefits Plan Savings

Markham employers leverage a number of strategies to minimize long-term cost when designing Markham group benefit plan. Some of these strategies may include the following:

  1. Including deductibles to the coverage.
  2. Sharing the premium between the company and the employee.
  3. Considering the level of insurance or co-insurance.
  4. Placing a cap or limit on the coverage.
  5. Reducing carry-over of unused sick days.

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Markham Group Benefit Plan News

Minister of Families, Children and Social Development, Honorable Jean-Yves Duclos, will discuss how the Canadian Government is improving employment insurance parental benefits to promote economic growth and improve the quality of life for communities and families.

Duclos said that this type of benefit has been proven to encourage a more balanced sharing of childcare responsibilities as obvious in Quebec and other Canadian jurisdictions. The new measure is designed to make it easier for mothers to return to work sooner if they wish in order to break down the barrier to gender equality. It will also reduce the wide gap between men and women and help Canadians to spend more time with their families.

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

Markham Group Benefit Plan FAQ

What is a group benefits plan?

Can my employer take away benefits?

What are good job benefits?

What are the four major types of employee benefits?

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