SMALL BUSINESS EMPLOYEE BENEFITS
Flexible Small Business Benefits Plans in Ontario
As a small business owner, offering a tailored employee benefits plan can set your company apart. With The Benefits Trust, small business benefits in Ontario are no longer one-size-fits-all. Our customized benefits approach ensures you get a plan that’s right for you, your family, and your employees.
What Is a Smart Business Owner Employee Benefits Plan
Business owners often think they’re too small to qualify for employee benefits. The Smart Business Owner Benefits Plan allows you to set up a plan for you and your employees with controlled costs. This plan provides you with the most comprehensive health and dental coverage possible. Your options depend on whether you want unlimited coverage or not.
In this plan, employees of the company receive a Health Care Spending Account that will pay 100% of all CRA-eligible expenses up to a set limit. Employers are able to choose between unlimited coverage or the Health Care Spending Account.
With a small business employee benefits plan, you benefit from:
- No limits, deductions, or maximums for owners
- 100% fully tax deductible business expense
- Set limits for employees to help control costs
- No medical evidence required
How a Small Business Benefits Plan Supports Owners and Employees
Owners
Get 100% coverage with no limits and pay a fixed monthly contribution based on your estimated annual health and dental expenses.
Your unlimited coverage plan includes:
- overage for drugs, dental, vision, paramedical, and more
- 60 days of emergency travel coverage
- Catastrophic drug coverage up to $1 million over a lifetime
Employees
Give your employees the flexibility they want with complete cost control for you, with a Health Care Spending Account. Show your employees you’re looking out for their needs and provide them with added value, all without having to worry about your premiums increasing due to excessive claims.
Your employees’ plan includes:
- Same coverage as owners, but with total cost control for you
- Offer different amounts by class of employee
- Monthly detailed billing
SMALL BUSINESS OWNER BENEFITS PLAN DETAILS
Health Benefits for Small Business Owners
Ideal for employers who are looking for unlimited coverage with controlled cost.
Plan Highlights
- Maintain cost control for your employees’ benefits while keeping health and dental expenses covered by the business.
- Pay a fixed monthly contribution based on your estimated annual health and dental expenses, which can be changed throughout the year.
- It provides complete coverage flexibility for any CRA-approved health, drug, vision, and dental expenses.
- A Small Business Benefits Plan can be supplemented with optional pooled benefits such as Life, AD&D, Critical Illness, Long-Term Disability, and Travel Insurance.
Coverage Amount
- For Employer: Unlimited coverage, you own any surpluses or deficits.
- For Employee: Fixed amount set by employer that can only be changed at annual renewal.
- All expenses will be paid at 100%.
Administration Fees
- 15% of contributions
- No setup fees, annual fees, per-claim fees, or fees for booklets.
- Includes monthly detailed billing and customer service.
What’s Covered?
The TBT Small Business Benefits plan covers a wide range of healthcare expenses including:
- Drugs
- Dental, including orthodontics & implants
- Vision, including laser surgery
- Expenses related to physical and learning disabilities
- Paramedical and registered therapists
- Hospital Coverage
Optional Catastrophic Coverage
Optional catastrophic coverage can include the following:
- Travel insurance
- Life insurance
- Accidental death and dismemberment
- Critical illness
- Long-term disability
- Catastrophic drug coverage up to $1 million over a lifetime
Online/Smartphone App Claim Submission?
Benefits Card?
Pay Direct Drug Card?
SMALL BUSINESS EMPLOYEE BENEFITS PLAN DETAILS
Employee Health Benefits for Small Companies
Give your employees the flexibility and coverage they deserve, with complete cost control for you.
A Different Approach to Small Business Benefits in Ontario
We’ve specialized in small business group benefits plans since 1994. We know that small business owners have a few priorities, on top of caring for their employees. Learn about our unique approach to providing employee benefits.
Examples of Small Companies Using Our Employee Benefits Plan
Contractor with 2 Key Employees and Spouse with Benefits Plan
George is a contractor with two site managers. George’s spouse has a benefits plan through her work, which covers 80%, with limits on dental and drug coverage.
Doctor with 2 Clinic Staff and Spouse with no Benefits Plan
Maya is a physician with two administrative staff. Her spouse does not have any benefits coverage. Maya wants 100% of her family’s health and dental expenses covered, with no limits.
Designer with Special Needs Child and Spouse with Benefits Plan
Carlos is an independent interior designer. His spouse, a teacher, has generous coverage—but it only pays $500 for orthopedics and speech therapy annually. Their child with special needs requires over $20,000 in combined care each year.
Common Questions About Small Business Benefits
What are the advantages of setting up a small business benefits plan?
There are many. The biggest advantage is that you can deduct your health and dental expenses through your business while protecting your employees with a tax-effective employee benefits plan.
For companies in Ontario, this means you can create health benefits for small companies Ontario that are customized to your specific needs.
What if there is more than one owner in the business?
No problem. Our small business benefits plans are flexible enough to accommodate multiple owners, with options to assign different levels of coverage. This flexibility is a key reason many owners choose to switch from traditional, one-size-fits-all coverage.
What if my company grows and I need a different benefits plan?
That’s great news, and we’re ready for it. Our plans are built for scale. As your team grows, we can help you transition to a more robust employee benefits plan without disrupting coverage.
Many clients begin with health benefits for small companies and evolve their plans as needs change, all while maintaining tax efficiency and cost control.
We have plans that cover:
No matter how your business changes, The Benefits Trust is here to support you.
What makes a customized small business benefits plan better than a traditional one?
A customized benefits plan lets you choose what’s included. You avoid paying for unused coverage and get greater flexibility. That’s why many Ontario employers are moving away from traditional plans in favour of tailored employee benefits plans.
Can I include myself or my family in the benefits plan as the owner?
Yes. One of the biggest advantages of small business benefits is that owners can include themselves and their family in the plan. This lets you deduct personal health expenses through your business while protecting your team.
Do small business benefits plans cover things like dental and vision?
Absolutely. Most health benefits for small companies can be customized to include dental, vision, prescription drugs, paramedical, and even wellness programs. You decide what’s important to you and your employees.
How are small business benefits plans taxed in Ontario?
For employers, contributions to a small business benefits plan in Ontario are typically tax-deductible. For employees, benefits are generally received tax-free. It’s a win-win when structured properly through a compliant employee benefits plan.
Tools and Resources for Small Business Benefits Planning
We Can Match Your Existing Employee Benefits Plan
Our team can quickly adjust and change your existing plan to work perfectly for you.
Most Traditional Employee Benefits Plans Look the Same
Cost
Service
Plan Design
Support
Watch and Learn How
The Benefits Trust Creates a Custom Benefits Plan to Meet Your Company’s Needs
- You pay for the insurance you want
- You only pay for the claims you have
- Administrative costs are fixed and transparent
Empowering Businesses Across These Great Cities
Have an Inquiry About Our Plans?
Call us at 1-800-487-2993
Email us at [email protected]
Regular Hours of Operation:
Monday – Friday 8:30am – 5:00pm
Inquire About Our Small Business Benefits Plans
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