Brampton Group Benefit Plan

Brampton Group Benefits Plan Advantages

The advantages of Providing a Brampton Group Benefit Plan for your employees

1. The group benefit plan protects your employees and their families against financial problems that could occur due to unexpected dental and health expenses.
2. Brampton group benefit plan offers tax-free health coverage benefit to your employees.
3. In all costs associated with the Brampton group benefit plan, the employer will receive a tax deduction.
4. The plan is administered by an insurance company automatically and the employer provides Brampton employee benefits program at a fixed cost.
5. Instead of increasing the taxable salary of your employees, you could provide extra compensation to them with Brampton group benefit program.

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Brampton Group Benefits Plan Benefits

Several employee benefits can be provided through a Brampton group benefit plan. These include:

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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Brampton Group Benefits Plan Package

Brampton employee benefits programs are becoming more complex and flexible by day. This is why employers should seek the help of professionals that would help them to go through the process of setting up such a benefits program. Without such professional help, you might run into steep costs and growing liabilities.

Furthermore, with the service of a benefits consultant or broker, employers can define a competitive benefits program with minimal cost. It should also be noted that the consultant will be paid by the insurance companies. Also, the consultant will provide expert guidance and relevant data that would help you to get the best result from your benefits investment. You can also get a better outcome by obtaining at least three different proposals. This will help you to access the value and cost from different perspectives.

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Brampton Group Benefits Plan Savings

Employers employ a number of strategies to reduce or save costs in the long term when designing the Brampton employee benefits program. These may include:

1. Sharing the premium costs between the employee and the company.
2. Building deductibles into the coverage.
3. Considering co-insurance or the level of coverage.
4. Capping coverage at some limits (for example, setting vision care at $400 over a period of time).
5. Minimizing carry-over of unused sick days.

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Brampton Group Benefit Plan News

A staff report that laid the foundation for increasing health and dental benefits in the Peel Region was dismissed by Peel Region councilors.

Brampton Councilor Grant Gibson said he does not need any more benefits. Gibson was already well covered under the Brampton benefits plan and he expressed surprises on why staff will be required to produce the report for the region’s council meeting.

Also, Brampton Councilor Elaine Moore concurred that the health and dental benefits for council members are sufficient and there would be no need to increase the coverage levels.

Also, Mississauga Councilor Sue McFadden said they are very well covered at their municipalities. McFadden joined the rest of the council in agreeing that no further action should be taken on the report.

Peel Region councilors receive health and dental coverage with their respective municipal councils and also get an additional $750 to cover costs that are not fully paid by the regions. Also, the region provides basic life, accidental death, and dismemberment insurance coverage.

The Regional Chair Frank Dale asked staff to prepare the report. The document includes options to extend the full-time employee benefits of the 24 councilors at a total annual cost of $114,800 or part-time benefits of up to $72,000 annually.

It also has an option to double their existing regional health spending account to $1,500. This would cost up to $53,700 in a year with the basic accident and life coverage.

To learn more about Brampton group benefit plan, click here.