In our society, it goes without saying that we must work for wages. Increasingly, this added financial benefit benefits. Indeed, a very strong trend and the importance that current workers’ quality of life. Therefore before choosing a job, they will consider the potential benefits as well as wages.
As an employer, offering a good insurance group is an interesting way to find qualified staff and encourage them to stay. It may even help reduce employee turnover within the company!
What is a group insurance?
Insurance group offers a social security to employees in addition to helping to absorb the costs different treatments not covered by the public health system. Moreover, as the employer absorbs some, it is very economical!
Did you know that group insurance costs about the same price as the RAMQ? Yet it offers so much more!
Insurance group is for employees and covers, in general, life, disability, health and dental. In Quebec, we need a minimum of 2 persons to benefit from this type of insurance. On average, employers believe in offering this plan if their company consists of 5 to 6 employees. Without this protection, it is obligatory to pay a fee to the RAMQ and it can cost up to $ 600 per year and covers only drugs. For about the same price, depending on the scope of coverage, your employees will be eligible for insurance that covers much more than just a sector since it is paid by several parties.
Take, for example, disability insurance. If your employees wish to acquire this type of coverage individually, it could cost them between 2000 and 3000 U.S. dollars per year.By cons, taking a group insurance for 5 or 6 people, with costs divided between the employer and themselves, they can benefit from this disability insurance for as little as about $ 300 per year. This preventive measure is good for the budget and secures the employees!
Why choose a group insurance for your company?
“There are two reasons why companies take insurance groups. First, the power ofattractive benefits for their employees or prospective employees. Second, the desire to protect their employees against the unfortunate moments of life, “explained Mr. BrissetteBrissette Group.
Insurance group have been designed to suit all businesses, small, medium or international. An employer can therefore easily find a product that suits their needs andthose of its employees by talking with an insurance broker specializing in group! By offering this protection to your employees, you offer them the chance to enjoy thisprotection and a wide, the same price as the RAMQ or a single individual insurance!You can, moreover, include vision care, critical illness insurance and employee assistance program (psychologists and other social needs).
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Group Insurance Definition
Group insurance is a coverage plan for health care in which employees or members are included in one policy held by their employers. Because every employee contributes to the insurance, the policy provides a coverage for many services for a lower cost by contributors. Group Insurance may be provided by other organizations outside the for-profit corporations. Trade unions, churches and service groups can also obtain insurance collective members recognized and possibly their dependents.
How does an Insurance Group work?
Individual members of a group insurance plan to receive certificates of insurance demonstrating their eligibility for benefits. If the master policy held by the employer requires participation in an health maintenance organization, while people are registered as members. Other group insurance policies may be associated with large medical groups such as Blue Cross / Blue Shield. A major medical policy may ormay not limit the choice of a primary care physician and individual specialists. HMO policies often require a patient to use a specified physician, who must approve all visits to specialists eligible.