Group Health Insurance Plans for Small Business
A supplemental health coverage plan that provides benefits not typically included in provincial healthcare programs. Protect your team with Dental, Prescription, and Extended Health coverage.
What is Group Insurance for Business?
As a dedicated business owner, you make strategic decisions to stand out. However, it is important to take care of the people who contribute to your financial growth: your employees.
With a comprehensive group insurance policy for small business, you demonstrate interest in your employees’ wellness and security. Healthcare and dental benefits help your employees pay for professional services that are not covered by their provincial insurance policies.
Why Group Medical Insurance is Important
Group Plan Benefits Solutions for Small Business offer affordable health care benefits without breaking the bank. Whether your business is just starting out or you prefer simple options, benefits include:
- Attracts and retains employees
- Increases productivity
- Enhances your business image
- Premiums are tax deductible
Extended Health Benefits Comparison
| Benefit | Silver | Gold | Platinum |
|---|---|---|---|
| Prescription Drugs Formulary & non-formulary. Includes vaccines. |
70% up to $1,000 | 80% up to $3,000 | 100% up to $6,000 |
| Eye Exams | $60 / 2 years | $150 / 2 years | $300 / 2 years |
| Health Practitioners Massage, Chiro, Physio, etc. |
$250 combined | $350 combined | $400 per specialist |
| Counselling Services Psychologists, Social Workers |
$250 combined | $350 combined | $400 combined |
| Hearing Aids | $500 / 5 years | $500 / 3 years | $500 / 3 years |
| Ambulance | $1,500 | Unlimited | Unlimited |
| Private Duty Nursing | $2,500 | $2,500 | $5,000 |
| Travel Insurance 90 days (unlimited trips) |
$5 Million Lifetime | $5 Million Lifetime | $5 Million Lifetime |
| Survivor Benefit Coverage for dependents after death |
12 months | 12 months | 12 months |
Extended Dental Benefits Comparison
| Benefit | Silver | Gold | Platinum |
|---|---|---|---|
| Basic Services Exams, X-rays, Cleaning, Fillings, Root Canals, Extractions |
80% | 80% | 100% |
| Major Services Bridges, Crowns, Dentures, Veneers |
— | 50% | 80% |
| Orthodontics For Dependents under 18 yrs |
— | — | 50% ($1,500 lifetime max) |
Who Needs Private Health Insurance?
Even small organizations with 3 to 49 employees can benefit from the specially designed Small Business Group Benefit package. The package will reduce costs compared to individual insurance plans; in addition, your premium may be tax-deductible as a business expense.
Package Options Include:
- Accidental Death & Dismemberment
- Life Insurance for employees
- Short-term & Long-term Disability
- Extended Healthcare & Dental
Frequently Asked Questions
How do I submit a claim?
In order for your employees to use their coverage, they can create an online profile with the insurance provider and submit claims online directly. Claims are settled with the medical provider or reimbursed quickly.
Can I customize the plan?
Yes! You can combine different healthcare packages with multiple dental care options to create a plan that suits your employees.
Do all employees have to enroll?
No, it is not necessary. In case some of your workers already have insurance coverage from their spouse, for example, they can opt out of the plan.
How many employees are required?
With a standard group insurance coverage plan, you can enroll as long as your business employs at least 3 people and up to 49.
Is Group Insurance tax deductible?
Generally, disability and health insurance premiums paid by the employer are not taxable benefits for employees (except in Quebec). As an employer, you can deduct paid group insurance premiums as a reasonable business expense.
Get a Quote for Your Business
We help you find the right insurance protection that matches your individual needs.
Request a Group Quote