Group Benefits for Growing Canadian Businesses
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When a business grows, its benefits plan needs to grow with it.
Simple guide: The rules and prices depend on the actual plan. Read the contract and ask questions before deciding.
Plan for new hires
Estimate how many workers you may add. Use the real staff list when asking for a quote.
Write clear rules
Explain who qualifies, including part-time workers and different job groups.
Make sign-up easy
Give new workers forms and deadlines as soon as they become eligible.
Adding family members
Explain how employees can add a spouse or child.
Choose core coverage
Health, dental, life and disability insurance each protect against different costs.
Flexible spending
A spending account can give workers choices, but it also needs rules and recordkeeping.
Check payroll
Make sure employee premium deductions match the insurer’s records.
Workers in different places
Ask whether the plan works the same way in each province.
Budget for change
Costs may rise as staff numbers and coverage needs change.
Choose a plan contact
Give one person responsibility for sign-ups, questions and yearly reviews.
Questions to ask
- What does this plan cover?
- What does it leave out?
- How much will I pay?
- What can change later?
- Who can help if I have a question or claim?
Read more in the Financial Learning Centre or contact Ali Aftab. This is general information, not personal insurance, legal, tax or investment advice.
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