Laval Group Benefit Plan

Laval Group Benefits Plan Advantages

Advantages of Providing a Laval Group Benefit Plan for your employees

1. Laval group benefit plan is relevant in protecting your employees and their families against financial uncertainties that could result from health and dental expenses.
2. The plan offers tax-free health benefits to your employees.
3. The employer will get a tax deduction in every cost associated with the Laval employee benefits program.
4. Laval group benefit plan is automatically administered by an insurance company and the program is provided at a fixed cost by the employer.
5. The benefits program provides a way to offer extra compensation to your employees rather than increasing their taxable salary.

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Laval Group Benefits Plan Benefits

Employers can provide several benefits to their employees with a Laval group benefit plan. Such benefits include:

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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Laval Group Benefits Plan Package

With the increasing complexity and flexibility of Laval employee benefits program, it is very important to hire an experienced professional to handle the process of setting up a benefits program in Laval. This will prevent your organization from running into the problem of growing liabilities and steep costs.

The benefits of working with a broker or consultant cannot be overemphasized, especially in defining a competitive benefits program at little or no cost since the consultant will be paid by the insurance company. When you work with a consultant, you will benefit from his expert guidance and relevant data to help you to make the most from your benefits investment.

Moreover, you need to obtain a minimum of three proposals before opting for a benefits program, this will help you to consider the cost from various perspectives.

Laval Group Benefits Plan Savings

A lot of strategies are leveraged by Laval employers to reduce cost in the long-run when designing the Laval employee benefits program. Some of these may include:

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

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Laval Group Benefit Plan News

Bill 176 which is an Act to amend the Act respecting labor standards and other legislative provisions mainly designed to improve family-work balance was introduced in March 2017 by Quebec Labor Minister Dominique Vien.

The bill threatens to weaken the viability and competitiveness of several businesses in Quebec. On introducing this bill, the government of Quebec appears not to be considering the comparative standards that apply in other Canadian provinces and territories and as a result the effects of the bills on the decision-making processes of many businesses in Quebec.

Most people would want to argue in favor of the family-work balance. However, when this bill is combined with the intended increase in the minimum wage and the Quebec Pension Plan contribution, the risk posed to many Quebec businesses cannot be overemphasized and the effect it may have on businesses could be unbearable.

Quebec already has the most favorable labor standard in North America and for the next 15 years, the province is expected to face a labor shortage. In other words, workers already have higher bargaining power. Moreover, the bill will add to the administrative and operating costs businesses already have to face and hinder the willingness and innovation businesses require to retain and recruit workers.

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