Saskatchewan Employee Benefits Program

Saskatchewan Employee Benefits Program Advantages

The advantages of providing a Saskatchewan Group Benefit Plan for your employees:

1. The employer will be able to provide the Saskatchewan employee benefits program at a fixed cost and the plan will be automatically administered by an insurance company.
2. The employees and their family members will be protected against financial problems that result from medical emergencies.
3. Your employees will get a tax-free health coverage benefit with the benefits program.
4. The employer will enjoy a tax deduction for every cost that is associated with the Saskatchewan group benefit plan.
5. You can provide extra compensation to your employees with the Saskatchewan employee benefits program instead of increasing their taxable salary.

To learn more about Saskatchewan employee benefits program, click here.

Saskatchewan Employee Benefits Program Benefits

Several employers in Saskatchewan provide benefits to their employees with Saskatchewan employee benefits program. Some of the benefits are as follows:

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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Saskatchewan Employee Benefits Program Package

The processes involved in setting up Saskatchewan employee benefits program could be complex and flexible. This is why you need the help of an experienced professional to help you to navigate through the processes and set up an attractive group benefit plan. This will help you to prevent the problem of growing liabilities and steep cost.

The service of a benefits consultant or a broker is highly needed for their expert guidance and relevant data in getting the best outcome in your benefits investment. The broker is paid by the insurance company and will be willing to offer you the best service at little or no cost.

You need to get at least three proposals from different brokers so as to evaluate the costs from different perspectives.

To learn more about Saskatchewan employee benefits program legislation, click here.

Saskatchewan Employee Benefits Program Savings

When designing a Saskatchewan employee benefits program, it is important for employers to consider long-term cost-saving measures. This can be achieved in the following ways:

1. Sharing the cost of premiums between the employer and the employees.
2. Adding or including deductibles into the insurance coverage.
3. Considering the level of coverage or co-insurance.
4. Capping or placing a limit on the amount of coverage (for instance, limiting vision care at $400 for a period of time).
5. Minimizing the carry-over of unused sick days.

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Saskatchewan Employee Benefits Program News

Compared to the previous month, more people in Saskatchewan were receiving employment insurance (EI) benefits in November 2017.

According to Statistics Canada, the number of beneficiaries in the province for the month increased by 4 percent to 18,360. The increase per month was spread across the province with the number of people receiving the benefits increasing by 7.2 percent in Regina and 4.3 percent in Saskatoon.

There were ten percent fewer people receiving benefits on a year-over-year basis. However, Regina was the only region not to have a year-over-year decrease with 9.6 percent more people getting EI benefits in comparison to the previous year, November 2016.

A greater number of people also began initial and renewal claims during November. According to Statistics Canada, about 7,600 people began the claims process in the course of the month, an increase from 7.2 percent from October.

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