Alberta Employee Benefits Program

Alberta Employee Benefits Program Advantages

The advantages of providing an Alberta Group Benefits Plan for your employees:

1. You can provide additional compensation to your employees with the Alberta group benefits plan rather than increasing their taxable salary.
2. The employer will be given a tax deduction in all costs associated with the Alberta group benefits plan.
3. Your employees will enjoy a tax-free health coverage benefit with the employee benefits program.
4. Your employees and their family members will be protected against financial issues that could result from unexpected medical or/and dental expenses.
5. The employer will enjoy a benefit by providing the benefits program at a fixed cost and the plan is automatically administered by an insurance company.

To learn more about the Alberta employee benefits program, click here.

Alberta Employee Benefits Program Benefits

Employers can provide a lot of benefits to their employees through the Alberta group benefits plan. 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

To get an immediate Alberta employee benefits program quote, click here.

Alberta Employee Benefits Program Package

When setting up the Alberta employee benefits program, it is necessary for employers to seek the help of an experienced professional to help them in navigating through the process of designing the benefits package. This will help to prevent issues of growing liabilities and prevent you from running into steep costs.

Moreover, the service of brokers or benefits consultants comes in handy here. Benefits consultants or brokers are paid by the insurance company and would be willing to offer you the service at little or no cost. The service could be relevant in getting the best outcome from your benefits investment.

Also, it may be necessary to obtain at least three proposals from different brokers in order to evaluate the cost and value from various perspectives before you dive in.

Alberta Employee Benefits Program Savings

Cost-saving is important to every employer. When setting up or designing an Alberta employee benefits program, employers will need to reduce long-term costs. This can be achieved in the following ways:

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

To learn about the Alberta employee benefits program, click here.

Alberta Employee Benefits Program News

Up to 60,000 Albertans received employment insurance benefits in March 2018. Statistics show that the province recorded the fastest year-over-year reduction in the number of beneficiaries among all provinces when compared to the same period the previous year.

Furthermore, the figure declined by 2.4 percent or 1,500 recipients when compared to February 2018. The trend is in correspondence with changes in the rate of unemployment in Alberta throughout the past year.

Calgary had an unemployment rate of 8 percent in April 2018 which was 1.5 percent higher than the provincial average, but in April 2017, the unemployment rate in the city was at 9.2 percent.

According to Statistics Canada, following a reduction in GDP of 3.9 percent in 2015 and 3.6 percent in 2016, Alberta had a real GDP growth of 4.9 percent in 2017.

A similar reduction in employment insurance claims was recorded across Canada. Over 470,000 Canadians received benefits in March; this decreased by 14 percent from the previous 12 months.

To learn more about the Alberta employee benefits program, click here.