Cancer is a common chronic disease that has a large impact globally, including in Canada. Around half of the population is expected to develop cancer in their lifetime and it poses a substantial health and economic burden on patients, especially as treatment costs rise.
The question isn’t just “How will this affect my business?”—it’s “How can I support my people when they need it most?”
How will cancer impact your business?
Every cancer patient’s journey is unique, and cancer and its treatments affect everyone differently. The immediate and long-term side effects and the degree to which your employee may or may not experience them can depend on the type of cancer and the type of treatment they received.
Beyond the emotional toll, cancer brings real challenges to the workplace. Every cancer journey is unique, but common side effects—fatigue, pain, nausea, cognitive changes, and mobility issues—can make it tough for employees to keep up with work. The type of work they do can make these challenges even harder.
The type of work your employee does will determine how these symptoms impact their ability to perform. Here’s the hidden cost for your business
Friction Cost
When an employee is absent due to cancer, you face costs to replace and train new staff. For example, studies show annual friction costs of $23,987 per bladder cancer patient and $6,400 per lung cancer patient.
Productivity Cost
Even after treatment, survivors may struggle with side effects. About 25% of cancer survivors feel less productive at work according to The Canadian Cancer Survivor Network.
Health insurance: Your Employees’ safety net
Here’s where you, as a business owner, can make a real difference. Health and dental insurance isn’t just a benefit—it’s a lifeline. It helps cover out-of-pocket costs, so your employees can focus on recovery, not financial stress.
What does great health insurance coverage look like?
- Assistive Devices: Help with costs for crutches, wheelchairs, prosthetics, home oxygen, and more that can be a major expense.
- Home Care Services: Coverage for personal support workers, health aides, and unexpected hospital room expenses if your employee becomes immunocompromised.
- Mental Health Support: Access to counselling and therapy, crucial for employees dealing with the emotional impact of cancer.
- Virtual Health Care: Video or phone consultations with medical professionals, making care accessible from home or work.
- Therapy Appointments: Coverage for dieticians, psychologists, social workers, chiropractors, naturopaths, and physiotherapists consultations that your employee needs to help them recover.
- Prescription Drugs: Help with potentially thousands of dollars in drug costs not covered by government programs.
- Dental, Vision, and Hearing: Routine care and support for issues caused by cancer treatments like chemotherapy and radiation.
- Ambulance Costs: Coverage for urgent situations.
Health insurance delivers peace of mind for you and your team
Cancer is life-changing, but comprehensive health insurance can ease the financial burden and give your employees the peace of mind they need to focus on getting better. It’s not just about medical bills—it’s about building a support system that helps your team thrive, even in tough times.
Let’s be honest – offering health insurance to employees can feel overwhelming, especially if you’re just starting out or running a lean operation. If you aren’t ready to jump into a group health insurance plan, there are still ways you can look out for your team (and your business) without breaking the bank.
Start by chatting with your employees about what matters most to them. Sometimes, giving a little extra cash so they can pick their own health insurance coverage, or simply sharing info about individual health insurance options can go a long way. Both options can be a more cost-effective way to provide benefits versus implementing a group plan. Plus, employees can choose the health insurance benefits they think they will need – especially if they will face cancer.
And think about the changing definition of healthcare that employees expect. Beyond physical health, helping your employees balance body, mind and spirit can be vitally important to their success and yours. By empowering them to be both physically and emotionally well, they can deliver their best to you.
Ready to Support Your Team?
Your role as a small business owner is more powerful than you think. By investing in a solid health insurance plan, you protect your employees and their families from the financial stress of cancer care. That means they can focus on what matters most: their health, recovery, and getting back to work.
You can provide your employees with information about supplemental health insurance plans, with no obligation to you or your company. Your only responsibility as an employer is sharing the information—there are no hidden costs or ongoing obligations, and you are not involved in the administration of any plans your employees choose.
If employees have questions about the plans or coverage offered, they can reach out to us at SBIS for guidance before deciding. We’ll help them understand their coverage needs and select the plan that best suits them and their families.
Want to learn more or get started? Visit sbis.ca or call 416.601.0429 or 1.800.667.0429 toll-free. Let’s find the best plan for your business and your team—because supporting your employees is supporting your success.
