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Ontario employee benefits program

Find The Right Ontario Employee Benefits Program

Ontario is not just the province with the most population but it is also the province with the most businesses in Canada. It has a population of about 14 million and a whopping 463,721 businesses. Furthermore, every business in Ontario wants to attract and retain the best employees and the easiest way to do so is with an Ontario group benefit plan.

With an Ontario employee benefits program, your employees will not just be safe and have peace of mind with your business but they will also be satisfied. Employee satisfaction is one of the most important factors you really need to continue being the best and offering the best services.

Businesses in Ontario do not just need to retain quality people, with Ontario group benefit plan, you can protect your employees and therefore your business. It is possible to design the benefits program in such a way that your employees can maintain their coverage even after leaving your organization.

To get an immediate Ontario employee benefits program quote, click here.

Advantages of Providing an Ontario Group Benefit Plan for your employees

  1. The employer gains a lot by providing the service at a fixed rate and the plan is automatically administered by an insurance company.
  2. The Ontario employee benefits program is a great way to protect your employees against financial conundrum that could result from unexpected and emergency health and dental costs.
  3. Rather than purchasing health coverage with after-tax money, your employees will benefit from the tax-free health coverage.
  4. For every cost associated with the Ontario group benefit plan, the employer will get a tax deduction.
  5. The Ontario group benefits plan is an excellent way to provide extra compensation to your employees instead of increasing their taxable salary.

To learn more about Ontario employee benefits program, click here.

Employers in Ontario offer their employees a lot of benefits with the Ontario employee benefits program. Some of the benefits offered by Ontario employers 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 Ontario employee benefits program quote, click here.

Setting up your Employee Benefits Package

Ontario employee benefits packages are becoming increasingly complex. When setting up such a program, the service of an experienced professional such as a broker or a benefits consultant is highly needed to avoid the problem of growing liabilities or steep cost. The professional will help you to navigate through the processes to create an attractive and robust benefits program.

Brokers work with an insurance company and so they are paid by the company. As a result, the professional could be willing to offer you the service at little or no cost. The service will allow you to get the best results from your benefits investment.

Employers are recommended to get up to three proposals from brokers in order to access the best cost and value before they jump into the benefits program.

To learn more about Ontario employee benefits program legislation, click here.

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Group Benefit Plan By Province

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Saving costs on your Ontario Employee Benefits Program

Ontario employers want to save long-term costs when setting up an employee benefits program. They achieve cost-saving in the following ways.

  1. Capping or placing a limit on the amount of coverage.
  2. Minimizing the carryover of unused sick days.
  3. Sharing the premium cost between the employer and the employee.
  4. Considering co-insurance or the level of insurance.
  5. Adding or including deductibles into the insurance coverage.

To learn more about Ontario employee benefits program, click here.

Ontario Group Benefit Plan News

The rapid spread of fraud rings has got both employers and providers reeling. Fraud rings are a group of employers who collaborate with medical services providers to exploit benefits plans.

People get designer sunglasses, cash, cash cards, iPads, purses, coats and so forth with fraudulent health benefit claims. Gary Askin, a former commander with the Waterloo Ontario police force who now works with Sun Life as a fraud investigator says employees submit fraudulent claims and share the money among themselves.

According to Askin, they assume that they will not be caught because they know the provider and if he calls the insurance company, the company will validate the claim. Referring to fraud ring organizers as recruiters, Askin says that the scheme has the potential to grow quickly as employees would spread the word when they reap the reward.

Sun Life said that about 85 percent of fraud losses involve the fraudulent claims made by employees in collusion with medical service providers. The most commonly used clinics are those that offer physiotherapy, orthotics, massage, and compression stockings. A whopping 1,500 providers across Canada were delisted in 2017 alone after proving that they were involved in false claims, as a result, their claims are no longer accepted.

Dave Jones, head of group benefits at Sun Life said the employees are stealing for their employer and from the wallet of money that is used to pay for their healthcare and the healthcare of their family, friends, and colleagues at work.

To learn more about Ontario employee benefits program, click here.

Ontario Employee Benefits Program FAQ

What is a group benefits plan?

A group benefits plan is a compensation program or package provided by employers to their employees as a group. This is usually outside the benefits provided by the territorial or provincial government.

Can my employer take away benefits?

A business in Ontario may be able to minimize or take away the benefits it provides its employees, although this is considered a bad business practice and could cause more harm than good to the organization. Moreover, employees can protect their benefits with the federal or state law or by taking advantage of an employment agreement.

Do you have to give full-time employees benefits?

There is no law that requires employers to provide benefits such as health coverage to their full-time workers in Ontario but it is generally expected that employers offer such benefits to their full-time employers. This is not always the case for part-time employees.

What are the four major types of employee benefits?

There are four major types of benefits offered by employers to their employees. These include medical insurance, life insurance, retirement plans, and disability insurance.

To get an immediate Ontario employee benefits program quote, click here.

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