SMALL BUSINESS EMPLOYEE BENEFITS
Smart Business Owner Benefits Plan
What is a Smart Business Owner 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 Healthcare 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
Coverage 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
Coverage for Small Business Employees
Give your employees the flexibility and coverage they deserve, with complete cost control for you.
We Do Small Business Benefits Plans a Little Differently
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 Businesses Who Have Purchased the Small Business 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%, and has maximums on dental and drugs.
Doctor with 2 Clinic Staff and Spouse with no Benefits Plan
Maya is a Physician with two administrative staff. Her spouse does not have benefits coverage. Maya wants 100% of all 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 is a teacher with generous benefits, but they have a child with special needs who requires $20,000 in orthopedics and speech therapy.
Common Questions
What are the advantages of setting up a benefits plan for my small business?
What if there is more than one owner?
If my company grows, will I outgrow this plan?
As your company grows, we will help you transition to a more suitable plan at every stage of your success. We’re with you all the way.
We have plans that cover:
No matter how your business changes, The Benefits Trust is here to support you.
Tools and Resources
We Can Match Your Existing 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
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