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Employee Benefits As Low As $1/hour per Employee

Employee benefits, also referred to as group insurance or group benefits, is a general term often used to describe the many types of supplementary health insurance offered through employers. Group insurance plans come with a number of advantages that make them the most popular health insurance options for Canadian small business.

BFP is One of Canada’s Top Benefit Firms
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Years of service to Canadians Group retirement plan assets under management Annual employee benefit premiums

The Peace of Mind of Employee Benefits Helps Attract & Retain Talent

There are many advantages to group insurance or employee benefit plans if you’re an employer or the administrator of a qualifying organization.

  • Benefit plans as a recruiting tool are a proven strategy to attract potential employees that wouldn’t consider working with you otherwise.
  • Benefit plans as a retention tool are a great perk for current valued employees, helping ensure they don’t move to another employer just to get benefits.
  • Doing the right thing by providing employee benefits to your employees can be the difference between them having proper extended health insurance and going uninsured for expensive services such as (dental, vision, drugs, and paramedical).
  • Healthy employees make happy employees which improves productivity, less absenteeism and higher morale. Healthy and fully insured employees are generally more positive about their place of work and more loyal to their employers.

 

Max Plans - Customizing The Right Plan for Your Business

The cost of most employee benefit plans vary based upon many factors, including:

  • Type of employee benefits coverage
  • Province where the business is located
  • Number of employees to insure
  • Age of the employees and dependents
  • Occupation and salary level of the employees
  • The Amount of Coverage you can afford or want

That’s where we come in as your trusted advisor. We will work with you to explain your options, identify opportunities and provide coverage that fit your budget, reflects your company values, and provides the best quality coverage for your employees.

 

Max Employee Benefit Plans at a Glance

We offer two quite different styles of benefit plans for Small Business - Traditional “Max Protection” and exclusive to us, the “Flat Max” plan.

Traditional “Max Protection” Plans

This is your traditional style of Benefit Plan design that has been used in Canada for decades. “Max Protection” offers the highest level of financial protection and peace of mind for you and your employees. The plan can be customized endlessly to meet your exact needs.

New “Flat Max” Plans

Maximum Cost Control! Maximum Flexibility! With a Flat Max plan, all health, drug, dental (routine major and orthodontic) and Visioncare expenses are covered at 100% with no pre-set limits or restrictions. You gain absolute total cost control by setting an annual maximum claim limit for each employee. Employees have flexibility to use their annual limit any way that they wish, until they use up their annual limit. Unused limits can be carried forward one year and added to next year’s new allocation.

Features BasicTraditional
MAX PROTECTION
EnhancedTraditional
MAX PROTECTION
New Flat MAX
Routine Dental up to 80% 90% or 100% 100%*
Prescription Drugs up to 80% 90% or 100% 100%*
Out of Country Travel 100% 100% 100%
Major Dental No 50% 100%
Visoncare No Optional 100%
Life Optional Optional Optional
Disability Optional Optional Optional
Claim Limit No Limit No Limit To Fixed Annual Limit
Claim Flexibility According to plan guidelines According to plan guidelines Employee directed
Plan Flexibility Ability to add options or increase protection Ability to add options or increase protection Ability to increase limits and switch plans
Cost Control* Rates re-set annually based on claim history Rates re-set annually based on claim history Annual cost is fixed and owner controlled

* With New Flat Max you gain absolute total cost control forever by setting an annual maximum claim limit for each employee. The annual limit is chosen from one of 5 levels: $500, $1,000, $2,000-$5,000 and $10,000 (custom limits may be available). You have the flexibility to assign maximum claim limits to different groups of employees, for example senior people get $5,000 while new hires get $1,000. Employees have flexibility to use their annual limit any way that they wish, until they use up their annual limit. Un-used limits can be carried forward and added to next year’s new allocation. Unless, you change the per employee annual claim limit, costs are capped forever.

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