Do You Have the Right Group Benefits Plan in Alberta?
When a person looks for employment in Alberta he or she is interested in pay, chance for advancement, security, and of course job benefits. Many job seekers are drawn to positions with higher wages, but they usually stay in a position when they are satisfied with the employment benefits. In fact, the ability to offer a diverse range of attractive benefits can separate you from the competition and land you some of the most talented and experienced job applicants. Here is an example that demonstrates the value of offering an excellent group benefits plan.
Company A manufactures building insulation. Business has been very good with the upswing in the housing industry recently. However, Company A is in direct competition with Company B. Both produce high quality insulation and their prices are competitive. However, Company B is slowly pulling ahead because they are attracting the brightest and most talented people to work for them.
Company B uses a strategy of diverse and attractive job benefits, and it is working very well. In fact, Company A tried for years to find out why Company B was doing so much better in their recruitment programs, but they could not understand what secret Company B was using. Fortunately, they finally found the answer.
Jim R, the new HR manager of Company A called several job applicants that decided to go with Company B and asked them why they did not choose Company A. The same answer kept coming up over and over, and it was "more job benefits".
Jim thought about this information he received and came up with a plan. Not long ago, he changed his personal insurance over to an insurance brokerage so he called them to see if they could help find an exceptional group benefits program. His broker told him they had several excellent plans in which to choose and he would be happy to show him what was available. Needless to say, before long, Company A was no longer losing out on the best job talent. In fact, they were providing a more attractive benefits plan than their competition.
What are Benefits Programs for Groups?
A group benefit plan is designed to provide a variety of job benefits for your employees. This may include a retirement savings plan and many other benefits that make employment more attractive and can improve the lives of your people.
Who Needs These Plans?
Many small companies make the mistake of thinking that a good group benefits plan is only there for the big companies and major corporations. However, this is simply not true. In fact, any company with at least two employees can receive a great deal of benefits with these programs. Just about any kind of company is eligible.
What is a Typical Group Plan?
Because every company is different there really is no standard plan, but there are some things you may wish to consider:
- Healthcare options
- Disability both long and short term
- Choice of co-pay amounts and deductibles
- Second opinion medical services
- Additional life insurance or critical illness insurance
Group Benefits Program Options:
- Direct Pay card - this can make it much easier to get medical prescriptions.
- Cost Plus - this is a private healthcare service program that may pay as much as one hundred percent of charges for dental and vision services. Cost Plus can also be used to supplement your existing plan. You do not have to worry about paying monthly premiums. In addition, it gives company owners the chance to pay for family healthcare, tax free.
- Travel insurance - an important benefit that can pay for emergency medical expenses when employees travel out of Alberta. This insurance also can cover emergency travel expenses.
- HCSA - Health care spending accounts
- Additional benefits - Critical illness coverage, spouse and dependent life insurance
Choosing the Right Insurance Service in Alberta
When you shop for a great group benefits plan, you can depend on a company like Bridge Financial Insurance Ltd. We are an insurance brokerage which means our independent agents have access to a wide range of insurance companies and benefits plans. You only need to come through us and we will check the options with a wide variety of insurance companies. Here are some of the things we can provide:
- Dedicated program consultant to help you create a customized group plan
- Dedicated team of insurance professionals to help to make sure claims and administration is streamlined.
- Several choices for insurance companies
- We come to your place of business with in house sessions for employees. This helps them understand the program and the process of enrollment.
- Less administrator work needed
- Increased employee job satisfaction - having the right benefits reduces stress and creates a more efficient workforce.
- Multi level programs available
Why Choose Bridge Financial Insurance Ltd?
Bridge Financial Insurance Ltd is there to help you set up your group benefits program and we are also there to monitor your plan and make sure it meets your goals today and far into the future. We will help you assess your needs and then show you all the available options. Maybe you already have a benefits program in place. You might not be utilizing it to its highest potential, and we can help.
Don't let your best people go to the competition because of job benefits. Call Bridge Financial Insurance Ltd. at 1-844-669-7284 for more details on our services, or fill out our quote form on the right and we will get in contact with you.