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Saskatoon Group Benefit Plan

Saskatoon Group Benefit Plan Overview

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The key to hiring and retaining quality employees in your business is the Saskatoon group benefit plan you offer. With the right Saskatoon employee benefits program, you will not just ensure that your employees are secure but that they have peace of mind. You need to provide health benefit no matter the size of your organization, whether big or small.

Furthermore, with the Saskatoon group benefit plan, you can ensure that your business retains quality employees while also making sure that you protect your employees and also your business without incurring additional costs. Employees may even be able to maintain their health coverage after leaving your company.

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

Saskatoon Group Benefit Plan Details

Saskatoon Group Benefits Plan Advantages

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

  1. The employer will receive a tax deduction in every cost associated with the Saskatoon group benefit plan.
  2. With the Saskatoon group benefit plan, an employer will be able to offer tax-free health coverage to their employees.
  3. The employees and their families will be protected against financial problems that could arise due to unexpected health and dental expenses.
  4. You could provide additional compensation to your employees through the Saskatoon employee benefits program rather than increasing their taxable salary.
  5. You will benefit as an employer by providing the service at a fixed cost and the plan will be automatically administered by an insurance company.

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

Saskatoon Group Benefits Plan Benefits

Employers provide a lot of benefits to their employees through the Saskatoon employee benefits program. Some of 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 Saskatoon group benefit plan quote, click here.

Saskatoon Group Benefits Plan Package

It is highly recommended for employers to seek the help of experienced professionals to help them navigate through the process of setting up a Saskatoon group benefit plan. The plan could become somewhat complex and you might even run into the problem of steep costs and growing liabilities.

Usually, you need the service of a broker or benefits consultant to set up an employee benefits package. Interestingly, brokers are paid by their insurance company and would be able to offer you relevant data and expert guidance at little or no cost. This would help you to get the best outcome from your benefits investment.

You can even obtain up to three different proposals to get a better outcome. This might help you to access the cost and value from a different point of view.

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

Saskatoon Group Benefits Related Pages

Saskatoon Group Benefits Plan Savings

To save long-term cost when setting up or designing the Saskatoon employee benefits program, employers leverage several strategies. Some of these strategies include the following:

  1. Taking a look at the level of coverage or co-insurance.
  2. Including deductibles into the coverage.
  3. Reducing the number of carry-overs of unused sick days.
  4. Sharing the cost of premiums between the company and the employee.
  5. Placing a limit or cap on the coverage amount.

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

Saskatoon Group Benefit Plan News

There has been a contract talk break down between the University of Saskatchewan and CUPE, a body representing 1,900 non-academic staff at the Saskatoon campus.

The benefit plan is one of the main sticking points. The University of Saskatchewan intends to move union members out of a defined benefit pension plan but the union opposed the move.

Craig Hannah, CUPE local 1975 president said the union laid out a compromise during mediation in December. Hannah said that their jointly sponsored defined benefits proposal could have saved the university millions of dollars each year and the plan risks and costs would have been shared equally by the university and the union members going forward.

Hannah added that the university rejected their constructive efforts to address the pension concerns and to protect their benefit security. However, the university said that the current plan is costing millions of dollars that could have been spent on research and education.

In a release from the university, the university said that the current defined pension plan for employees who are members of CUPE 1975 has cost the university additional $29.8 million beyond the normal contributions that could have been spent over the past 10 years. Under the current pension structure, the significant additional contributions are expected to continue into the future.

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

Saskatoon Group Benefit Plan FAQ

What is a group benefits plan?

Saskatoon group benefits plan provides a way for employers to offer various forms of employee benefits such as health and life insurance to their employees, outside of the benefits provided by the provincial government.

Can my employer take away benefits?

An employer or a company can cut or take away the benefits it offers its employees without informing them, but this is generally considered as a poor business decision. Moreover, employees can protect their benefits by leveraging employment agreements or with the federal or state law.

What are good job benefits?

Group benefits may include health insurance, dental insurance, vision care, life insurance, personal leave, paid vacation leave, child care, fitness, a retirement plan, sick leave, and some other optional benefits. The usually varies with the company.

What are the four major types of employee benefits?

There are basically four types of employee benefits offered by most Saskatchewan employees, these include medical insurance, retirement plans, disability insurance, and life insurance.

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

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