Custom Employee Benefits Plans
A benefits plan is a promise between an employer and employee. The employer should have control over that promise. A custom employee benefits plan is designed to allow the employer to exert that control over both the benefits offered to employees, and the budget.
Choose What You Want in Your Employee Benefits Plan
The primary advantage of a custom employee benefits plan is that the right employees have the right benefits at the right time. An off-the-shelf solution can seem frustrating because it does not address the needs for employees as individuals.
Design Your Benefits Plan According to Your Needs
A well designed plan allows businesses of all sizes to control costs, deter benefits abuse, increase retention, and reduce turnover issues among others. Plans can also be customized to allow for tax advantages as applicable under CRA rules.
Full Transparency on Employee Benefits Costs
One of the more important advantages of custom employee benefits plans is complete transparency that allows you to fully understand your benefits costs without the secretive math that often accompanies increases in traditional benefits plan premiums.
We Design Benefits Plans for Every Company and Budget
The Benefits Trust will help you design a benefits plan that fits both your needs and your budget. The size of your company should not compromise the quality of coverage for your employees or your strategic goals.
We specialize in providing flexible comprehensive employee benefits solutions to successful Canadian employers. Contact us today to learn more.
Common Employee Benefits Terms Explained
Accidental Death and Dismemberment
In the case of accidental death, provides benefits to a beneficiary. In the case of dismemberment, a percentage of the full benefit will be paid to the employee. Typically the AD&D benefit amount matches the group life insurance amount.
Provides access to expert medical specialists to help employees understand their diagnosis and make treatment decisions
A lump sum benefit if the employee is diagnosed with a critical illness covered by the plan, such as life-threatening cancer, stroke, or heart attack, and survives a certain period (usually 90 days) after diagnosis.
Coverage for eligible dental expenses, typically including preventative and diagnostic treatments such as dental examinations, cleanings, x-rays, etc.
Employee Assistance Program
Provides confidential access to counselling and consultations to help employees handle personal, psychological, and family issues. Resources available to help navigate various issues including money, wellness, work-life balance, etc. Learn more.
Provides medical services and supplies beyond those provided by your province’s healthcare system. Extended healthcare coverage can include a variety of elements, some of which are listed in more detail on this page (e.g. paramedical services, vision care, prescription drug plan, etc.).
Healthcare Spending Account
Also known as HCSA or HSA. A pre-determined amount of money provided to employees each benefit year for coverage of their medical and dental expenses. Eligible expenses are paid at 100% up to the total dollar amount available in the HCSA. HCSAs can form as large or as small a part of the benefits promise as the employer chooses. Learn more.
Digital health and wellness solution designed to help employees become healthier through confidential personalized online health assessments, health challenges, and digital coaching. Learn more.
Provides financial assistance to the beneficiary in the case of the employee’s death. Group life insurance proceeds are paid tax-free to the beneficiary.
Long Term Disability and Short Term Disability
Long term disability (LTD) benefits provide income replacement when employees are totally disabled and unable to work for an extended period of time due to injury or illness. Short term disability (STD) benefits provide coverage when employees are unable to work for a short period of time (generally less than 17 weeks) due to injury or illness.
Medical Equipment and Appliances
Coverage for certain medical appliances such as supportive braces, crutches, blood pressure monitors, hospital bed rentals, etc.
Provides coverage for certain licensed medical practitioners such as physiotherapists, chiropractors, naturopaths, massage therapists, psychologists, etc.
Prescription Drug Plan
Many plans offer coverage or partial coverage for prescription-requiring drugs. Many include a pay-direct drug card.
Rupert Case Management
Provides case management, guidance, referrals, and advocacy for employees diagnosed with complex health conditions. Learn more.
Stop Loss/Large Amount Pooling
Protects the benefit promise from the risk of catastrophic healthcare claims.
Coverage for eligible eye care expenses, typically including eye examinations and prescription glasses or contacts. May include coverage for corrective laser eye surgery.