Group Life insurance

One year Term insurance often offered as a function of annual salary, (eg.1times , 2 times or 3 times) or a flat amount (eg. $25,000 or $50,000). This benefit usually decreases by 50% at age 65 and terminates at age 70. Conversion to a personal plan is available before age 65 if an employee leaves employment. Optional life insurance is often available and is sold in set units (eg. $10,000). Medical underwriting is required.

Accidental Death and Dismemberment

Accidental Death and Dismemberment is often the same amount as the life insurance but there are also options to increase the amount paid out if the accidental death occurs at work periods. Usually the same sum is paid on the accidental loss of both limbs, or sight of both eyes.

Dependent Life

This is life insurance issued on the spouse and child of an insured employee.

Health Care

This is a medical plan that provides benefits over and above government health benefits. This category is made up of several components including but not limited to… Prescription Drugs, Medical Professional Services (such as Chiropractic, Physiotherapists, Psychologists, Naturopaths etc…), Private Duty Nurse, Semi Private or Private room in a Public General Hospital, Hearing Aids, Vision (eg. eyeglasses and eye exams), Accidental Dental. Costs are controlled and shared by a variety of deductibles, coinsurances and maximums.

Dental

Dental plans usually cover the maintenance of good oral health including cleaning, scaling, extractions, fillings, x-rays, root canals and gum disease treatments. Recall exams vary from every 6 months to once per year. More enhanced plans offer crowns and bridges, orthodontics for children and adults and some cosmetic procedures. Costs are controlled and shared by a variety of deductibles, co-insurances and maximums.

Short and Long Term Disability

Short and Long Term Disability benefits pay a percentage of monthly income after a waiting period. The payment usually continues until the employee returns to work, becomes ineligible for benefits or turns 65 when CPP takes over. Disability benefits can replace EI sickness benefits or a salary continuation plan. If the employer pays any portion of the premium the monthly benefit is taxable to the employee.

Wellness Plans (or Employee Assistance Programs)

Growing in popularity, Wellness plans focus on the prevention of illness and the maintenance and promotion of good health…both physical and mental. These plans offer employees assistance in the areas of substance abuse, parenting, marital issues, bereavement, critical issues, co-worker conflicts, violence. Wellness is promoted through a variety of programs such as smoking cessation, weight loss, healthy eating, cross-cultural communication, work-life balance, career changes and other stresses. New statistics show that Wellness plans reduce costs associated with absenteeism and high benefit plan utilization.