Mississauga Group Benefit Plan

Mississauga Group Benefits Plan Advantages

The advantages of Providing a Mississauga Group Benefit Plan for your employees:

1. Mississauga group benefit plan provides a means to offer tax-free health coverage to your employees.
2. The benefit program will protect your employees and their families against financial uncertainties and problems that could result from unforeseen health or dental expenses.
3. The employer will receive a tax deduction in every cost associated with the Mississauga group benefit plan.
4. The employer benefits by providing the employee benefits program at a fixed cost and also the Mississauga group benefit plan can be automatically administered by an insurance company.
5. You could provide compensation to your employees with Mississauga group benefit plan instead of increasing their taxable salary.

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Mississauga Group Benefits Plan Benefits

There are lots of benefits provided through Mississauga employee benefits program. Some of these benefits include the following:

1. Life Insurance and Spousal/Dependant Coverage
2. Accidental Death and Dismemberment
3. Prescription Drug Coverage
4. Paramedical Coverage (Chiropractors, Therapists, etc.)
5. Group Pension Plans
6. Group RRSP Plans
7. Short Term Disability
8. Long Term Disability
9. Extended Healthcare/Visioncare
10. Dental Coverage
11. Out-Of-Country Emergency Medical (Travel)
12. Critical Illness Insurance

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Mississauga Group Benefits Plan Package

With the increased flexibility and complexity of Mississauga employee benefits program, it is highly recommended that you seek the help of experienced professionals when setting up a Mississauga group benefit plan. The service of an experienced professional comes handy in minimizing or preventing the problems of steep costs and growing liabilities.

In addition, you need the service of a broker or a benefits consultant to define a competitive benefits program at low cost. The service of the broker or consultant comes handy in getting relevant data and expert guidance that will enable you to get the best outcome in your benefits investment. Moreover, you can get the right outcome by getting up to three different proposals to evaluate the costs and value from different aspects.

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Mississauga Group Benefits Plan Savings

Several strategies are employed by Mississaugan employers to save long-term costs when designing Mississauga employee benefits program. These strategies include the following:

1. Adding deductibles to your coverage.
2. Placing a cap or a limit on your coverage.
3. Sharing the cost of premiums between the employee and the company.
4. Considering the level of coverage or co-insurance
5. Reducing the carry-over of unused sick days.

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Mississauga Group Benefit Plan News

TTC confirmed on Wednesday, March 14, 2018, that the number of employees fired or who left the transit agency due to the massive benefits scam has increased to more than 200. TTC said in a written statement that a total of 223 employees have either resigned or been dismissed or retired to avoid dismissal for defrauding the company’s benefits plan.

After the transit agency received an anonymous tip on its Integrity Line, an investigation into the scheme was launched in 2014. The company revealed that several of its employees allegedly agreed to apply for benefits claims for orthotic devices as well as services they did not receive.

Claims were submitted for items like sleeves, compression stockings, and orthotics, as well as therapy services. Police said that the insurance payments were then split among the involved employees and business.

Former TTC employees, ten current ones and also the owner of Healthy Fit, Adam Smith, have been criminally charged due to their connection with the scam. Smith was found guilty of two count charge over $5,000 and was therefore sentenced to two years imprisonment.

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