Group Health Benefits

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Group Health Benefits: It's What Your Employees Want

When you are small or medium sized business owner, and you want to go a little further for your employees, your first look should be towards offering group health benefits for your employees. Traditional health and dental insurance is not actually insurance because employers indirectly pay the health and dental claims. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage.

Why Offer Group Health Benefits?

When you offer your employees a plan for group health benefits, you are introducing another factor towards employment longevity, and introducing a defining factor for attracting potential candidates for future positions. Many small and medium sized businesses do not believe they can afford health benefits for their employees because of today's economy and because ...
... they are only aware of traditional benefit plans which is often very expensive. But individual health coverage is significantly more expensive for the consumer, and including this as an employee benefit can go a long way to boost employee morale and retention. Typically, a life insurance company will charge the difference between the premiums and the claims, but there is a unique program available to Canadians where the administration costs is a percentage of claims and a flat monthly fee per employee, which makes it substantially less money than traditional insurance- and it still offers you great coverage. Ask your group health broker about TEN STAR's Group Plus and discover how you can offer more, for less.

Choosing a Group Health Benefit Specialist

When you need to choose a group health specialist, there are a few ways to find an efficient and friendly broker who will find the most cost effective solution for your needs.

- Recommendations: Ask around and see if your friends or family members have spoken with a group health broker recently

- Proximity: If you pass by a brokerage near your home, or workplace, they may group health insurance policies. Walking in and asking questions are great first steps with deciding.

- Online reviews: Just like restaurants, products, and movies, you will probably be able to find a review of a great broker nearest you

Finding Group Health Benefit Plans

When discussing insurance options with your broker, prepare a short list of questions before arriving. Finding a knowledgeable broker with experience dealing with the type of insurance you need can help you in the long run, so remember to take your time when finding the most appropriate broker for your needs. As many policies vary, it is important to create a dialog with your broker and openly discuss all variable options. A great broker should be able to clearly explain and review the pros and cons of policy modifications with you, allowing you have an easier understanding of exactly what your employees will be receiving.

About the Author: Wesley is a search marketing specialist working together with Ten Star Financial Services, a Canadian insurance broker with specialists dealing with group health benefits and life insurance at branches nationwide. You can visit their website at http://www.tenstar.ca/ .