Group Benefits Plan

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A company Group Benefits plan shares the financial risk of health related expenses among the group of employees, under one contract, who pay into a fund or pool.

 

When an employer has a Group Benefits Plan in place for their employees, any member of the group who becomes ill or requires services is financially compensated by the plan according to the terms laid out in the contract between the employer and the insurance company.

Family members of employees are also covered under the plan as specified by the contract.

 

 

The benefits to providing a Group Benefits Plan to your employees are:

  • Having a competitive edge in the job market;
  • You attract and retain employees thereby minimizing the costs associated with high turnover;
  • Providing insurance coverage at a reduced cost;
  • Group plans do not discriminate and are not anti-selective, offering all participants the same benefit plan;
  • A cost effective means to protect employees.

 

Businesses that provide Group Benefits to their employees experience increased productivity and higher morale by providing financial security and support to employees. These plans are also a tax effective form of compensation because most premiums paid by an employer are tax deductible as a business expense.

Please contact us today, let us help you design and implement a customized Group Benefits Plan for your business.

We look forward to helping you and your family.

Please feel free to contact us with any questions. Phone: +1 (416) 769-2707 or Email: info@rorac.ca
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