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Excited To Re-Open? Don’t Forget Health Insurance For Your Employees

Excited To Re-Open? Don’t Forget Health Insurance For Your Employees
Canadian small businesses are sparking with optimism proving they are resilient. Anticipating a surge in sales? You may need more employees. Is your employee health plan ready?

For most small business owners, a long-term mindset and careful cash-flow management helps make your business resilient and responsive. When challenges arise, it takes patience. But transformation often happens with a focus on social responsibility. The fact is your business recovery fuels not only your personal financial stability so you can contribute responsibly to your family’s needs. Your business success also delivers an optimistic financial outlook for your local economy and your workforce.

While your actions show commitment to your success and your business’ welfare, it’s critical to also show clear commitment to your employees’ health and welfare. The best way to do that is by protecting them with a health and dental insurance program.

Dedicate funds to a health insurance program

Your employees are one of the most important elements to growing and maintaining your business. You need an efficient and productive team to operate and manage the growth of your operations.

As things pick up your extra cash flow helps you take on additional personnel you need to help run your business smoothly. Dedicating some funds to a health insurance program for your team’s needs should be part of the plan too This will ensure they are properly equipped to maintain their health (and service levels you demand).

A team member’s health issues can derail growth plans. Why? Provincial insurance plans pay for medically necessary care, but they don’t cover numerous other services that can threaten you or your employees’ health, ultimately affecting your company’s bottom line. For example, it doesn’t cover the cost of prescription drugs, dental care, routine eye exams, glasses, contact lenses, hearing aids and other medical items or equipment. It also won’t pay for certain preventative services and screening tests (just to name a few).

Imagine if a person you depend on misses work just because they are ill but can’t afford a prescription. Your health insurance safety net will help them pay for healthcare costs, and stay at work where you need them.

A well calculated health plan investment can help you propel your business to the next level

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Successful business owners see the big picture and are mindful of details like health insurance. It can be very easy to get bogged down in the daily grind and forget to take care of your vision of what your business can become and what your employees need.

With a Small Business Health Insurance plan from Special Benefits Insurance Services (SBIS) you can

  • spend less time worrying about healthcare costs and more time managing your business
  • conserve financial resources that could be better spent on building your business
  • protect your business and employees from the financial burden of healthcare issues
  • tangibly demonstrate to your employees that they are valued (sometimes being valued is more important than other factors like a shorter commute or better hours).

When you are making your decisions on health insurance coverage for your small business, consider these ways you can invest in health insurance:

  1. Provide a small group health plan
    Without going through a complicated quote process, you can quickly offer cost-effective small group health insurance with premium rate stability you can count on. All employees actively at work at least 20 hours a week participate, coverage guaranteed. You and your employees will receive a complete benefit booklet with everything you’ll need to know, such as benefit details and maximums. As the plan administrator, you also receive an administration manual outlining everything you’ll need to assist your employees with their plan.
  2. Fund each employee’s individual health plan through the business.
    Not only can you pay for health coverage for full time employees but can choose to offer a health plan to part time or seasonal workers. Offering individual health insurance gives each employee flexibility in finding a plan that best suits their situation from the wide range we offer at SBIS.
  3. Connect employees to individual health insurance options they fund
    Choosing supplemental individual health insurance on their own may be overwhelming (and avoided) by your employees. Help them by raising awareness of the benefits of health insurance and connecting to a trusted provider – SBIS – where they can get free expert advice, discover resources that educate them on features and plans and have the convenience of on-line quote and apply to best in class products.

The bottom line is that you can’t afford to miss out on hiring the best people and you don’t want to lose your workers to the “other guy” who offers better benefits.

Here are just some of the health benefit options SBIS offers

Exclusive access to Green Shield Prism Spectra, Precision and Continuum Plans

Each of these individual insurance plans features different coverage levels so you can select the best option for your particular needs. Maximize each individual’s healthcare coverage with the highest benefits through a medically underwritten plan or offer access to a guaranteed-issue individual health and dental plan that does not require a medical questionnaire. And if you and your team left an employer group plan within the past 90 days to start your business, you can take advantage of special guaranteed-issue plan options.

Manulife FlexCare, FollowMe and Association Plans

Employees can customize their health insurance offerings with add-on options so your small business health insurance program is tailored to the unique and specialized needs of your company. It’s an affordable, accommodating way to purchase only the insurance you need. Acceptance can be guaranteed so everyone qualifies for coverage.

GMS Personal Health, Replacement Health and Group Advantage Plans

GMS Personal Health Insurance plans give employees coverage for everyday health needs and medical emergencies so they can afford treatment that helps them feel their best, and there is a plan available for everyone, guaranteed.

If your business has 3 to 10 employees, the GMS Group Advantage Plan allows you to mix and match and deliver a group benefits plan that requires no medical questions and provides quick coverage. This off-the-shelf plan design makes the application process simple so you can get back to business with no major interruptions. You also get an Employee Family Assistance Program (EFAP) that provides wellness benefits to your employees at no extra cost. Employees can use EFAP to access support networks, life coaching and professional counselling services.

GMS Replacement Health plans are available for any employee moving from your employer benefits plan to their own individual plan. They plans are packaged to provide coverage similar to most group benefit plans. Acceptance is guaranteed and there are no medical questions as long as the Replacement plan begins within 60 days of losing employer sponsored coverage.

Ready to re-open and get growing?

Learn more about the benefits of a Small Business Health Insurance plan with our articles Health Benefit Insights For Small Business Owners  and How Can Small Businesses Help Their Employees To Gain Access to Health Insurance

Now that you are ready to re-open, contact SBIS for your free, no-obligation quote or information package now!

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