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► Group Benefits for Small Businesses

Employee group benefits for small and family businesses: get your group insurance quotes and choose the plan, which best suited to your group needs and your budget.

Employee Group benefits may include:

Life insurance

Extended health benefits

Prescription drugs

Travel insurance

Dental care

Disability insurance

Critical illness

 

Traditional Employee Group Benefits

Group benefits quotes  from the Canada's major group insurance providers! (Ontario, Alberta, British Columbia, Manitoba, Nova Scotia, Saskatchewan).

 

Request for a Group Benefits Quote

Pre-selected Group Benefit Plans

Manulife The LaunchPlan (2-9 employees)

Manulife Quickstart  (2+ employees)

GMS Group Advantage Plans

   for Small businesses (3+ employees)

 

Personal Health & Dental  Plans

for small business

Manulife Health & Dental  Plans

   (1+ employees)

The Edge Health & Dental Plans  

    (3+ employees)

 

Taxation of Premiums and Benefits


Why You Need Group Benefits



Get more

Insurance Quotes for individuals & small business


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Group Benefits for Small & Family Businesses

 

Traditional Employee Group Benefits

This is the option to get a group benefit plan tailored specifically for your business.

 You have a flexibility to select benefits and create your own plan for you and your employees, some conditions apply.  The cost of your employee group insurance will depend on the benefits selected, benefit limits, deductibles, co-insurance.

 

It is easy to start your group benefits program: click the button below and submit your request for quotation.

 

 

Insurance premiums for this plan depend on:

  the benefits selected by you and plan design (benefit limits, deductibles, etc.) ;

  your group content (number of employees, age, occupation, single/family coverage, etc.);

  nature of your business;

  location (province of residence);

  your group claim experience in the previous year(s) (if any) and other factors.

All information above is necessary to calculated group insurance rates for your business. Plan design and group content are the major factors affecting the pricing of group insurance benefits.

 

Small and Family Businesses employed 2 people and more can apply for this plan. A group may include business owners, full-time employees and part-time employees working more than 20 hours per week on a permanent basis. Group insurance plans for contractors and seasonal workers are possible, some conditions apply.

 

Each business is unique and we will help to set up the plan type and plan design tailored for your needs and budget offering different  options to choose from.

 

Group insurance quotes from various insurance companies may be requested for the plan selected by you, so that you can compare the rates and choose the best solution. Insurance providers: Manulife Financial, Empire Life, Sun Life, Desjardins Financial Security, Equitable Life, RBC Insurance, Industrial Alliance, Ontario Blue Cross, and other insurance providers as required for specific client needs.

We will also help you with Plan implementation  and Renewals & renewal rate analysis.

 

To start your group benefits program, please send us your request for quotation or call at 416-493-0101 (1-877-443-0101) for more information and appointment (office, over the phone or Skype) .

 

 

Pre-selected Group Benefit Plans for Small Business

When requesting a Group insurance quote for your business (see above), you have a flexibility to select the benefits and create your own plan.  However, you have also the option to pick up one of the pre-defined benefit packages for small businesses. Insurance premiums for these plans (with the exception of Manulife QuickStart, see below) do not depend on your group claim experience. These plans are renewable every year and monthly premiums may change depending on the claim experience of all businesses and individuals who participate in the plan. 

Below please find some options available for your business:

 

Manulife Financial LaunchPlan -

It is the right plan for your business* if you have a minimum of 2 full time employees, you have between 2 and 9 employees in total, and you are looking for an affordable, sustainable way to protect employees and build a better business.

Benefits included : Life insurance, AD&D, Extended Health Benefits, Dental Care.

* Ineligible groups include businesses that are: not-for-profit organizations, seasonal, Quebec-based, holding companies, or businesses that have been in operation for less than 6 months.

●  LaunchPlan Features and Request for Quotation.

Please e-mail your completed request to natalia@tninsurance.ca .

 

Manulife Financial Quickstart

It is a pre-defined package of key benefits that employees find the most useful and desirable – at a price that is realistic for a growing business. Quickstart begins with the basics and gives you the flexibility to add new benefits and features as your budget allows.

Benefits included : Life insurance, AD&D, Long Term Disability, Extended Health Benefits, Dental Care

●  Quickstart Plan Features and Request for Quotation.

 

 

GMS Group Advantage Benefit Plans

It is a simple and affordable solution from Group Medical Services: Health and Dental plans are specifically tailored for small businesses with 3 or more employees. Simply choose the options that best suit your needs and calculate your monthly premium - no need to wait for a quote. Ask about the addition of life and disability insurance. 

●  Health Benefits Summary

●  Dental Benefits Summary (optional benefit)

●  Monthly Rates

●  Premium Calculation

 

 

Personal Health & Dental Plans

You can also purchase a bundle of personal insurance policies for each employees:

 

Manulife Personal Health & Dental Plans

Manulife issues a couple of guaranteed issue health & dental plans, which do not require medical questionnaire.   The plans include health, prescription drugs, dental, vision benefits. It is a good and affordable solution, if you just start your business. No sales tax apply.

Flexcare ComboPlus Starter - Plan Summary and Get a Quote Online

Association Base Plan - Plan Summary  and   Get a Quote Online

 

The Edge Health & Dental Plans (underwritten by Green Shield)

If you have 3 or more employees, you can purchase  personal (individual or family) health& dental coverage for each employee, no medical underwriting required. No sales tax apply.

●  Health Benefits Summary

●  Dental Benefits Summary (optional benefit)

●  Monthly Rates

 

 

Why You Need Group Benefits

If you are a business owner (employer), by implementing a group insurance plan for your employees you can:

Get a tax-deductible business expense;

● Provide financial protection for your employees and their families;

● Provide a tax-effective form of compensation to your employees,

● Address the special needs of some employees with coverage available without any medical questionnaires to complete;

Attract the best employees – employee benefits can give small business owners a competitive edge;

Reduce employee turnover – employee benefits can help business owners retain good people;

●  Protect the business - ensuring the business is in a position to continue is critically important should the unexpected happen to the owner or a key employee.

Nobody plans to get sick, but that doesn’t stop it from happening.

Act now to protect you, your people, and your business!

 

 

What benefits can be included in your plan

Below is a list of benefits group insurance plan may include. You can select from these benefits, create your own plan suited to your and your employees needs and your company's budget (some conditions apply).

Life insurance

Extended health benefits

Prescription drugs

Travel insurance

Dental care

Disability insurance

Critical illness

 

 

Taxation of Insurance Premiums and Benefits

There is a number of rules that apply to the taxation of Group Insurance benefits.

 

Retail sales taxes (RST) apply to all premiums for employee benefits in Ontario (8%) and Quebec (9%). In Manitoba, RST (7%) applies  to life, AD&D, disability, critical illness premiums.

 

The employer may deduct the group insurance premium payments against business income as long as the premium payments are a reasonable business expense.

 

Employer-paid premiums for group life insurance, dependant life insurance, accident insurance and critical illness insurance are taxable benefits for the employees. Any premium paid by the employer in a tax year must be added to the employee’s income on their T4.

 

Premiums paid by the employer for Extended Health and  Dental insurance are tax-free to the employee (except in Quebec). The employee contributions (if any) are eligible for the medical expense tax credit.

 

Employer-paid short-term disability (STD) or long-term disability (LTD) premiums are not taxable benefits. However, when the employer pays any portion of premiums for STD or LTD coverage, any benefits the employee may collect in future will be taxable.

 

Taxation  of Benefits:

Life insurance and AD&D : Benefit is not taxable when received.

Extended health benefits : Benefits are  not taxable when received by the plan member .

Dental care : Benefit is  not taxable when received by the plan member .

Disability insurance

If the employer makes any contribution to the disability insurance premiums, the  employee will pay income tax on the disability benefit received. If the employee pays a 100% premium for disability insurance, benefit is not taxable when received.

Critical illness : Benefit is non-taxable when received.

 

NOTE: The information above provides a brief on some of the taxation rules for group insurance plans.  For detailed tax information, please consult with your business accountant.

 

 

or call at 416-493-0101, 1-877-443-0101 for appointment (office, over the phone or Skype)

 

If you have any questions or concerns feel free

Ask a Question


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Revised: July 13, 2017