Yukon Employee Benefits Program

Yukon Employee Benefits Program Advantages

The advantages of providing a Yukon Group Benefit Plan for your employees

1. The employer can provide the benefits program at a fixed rate and the plan will be automatically administered by an insurance company.
2. Your employees and their family members will be protected against financial issues that could result from medical emergencies or dental issues.
3. With the Yukon employees benefits program, the employees will enjoy tax-free health coverage benefits rather than purchasing health coverage with after-tax money.
4. As an employer, you will get a tax deduction for all costs associated with the group benefit plan.
5. Rather than increasing your employees’ taxable salary, you can provide extra compensation to them with a Yukon group benefit plan.

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Yukon Employee Benefits Program Benefits

Employers in Yukon provide several benefits to their employees through the Yukon employee benefits program. The benefits provided 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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Yukon Employee Benefits Program Package

Employee benefits programs are becoming more complex by the day. When setting up such a benefits program, employees need to leverage the help of an experienced professional to navigate through the process. This will help you to prevent the problem of growing liabilities and avoid issues of steep costs.

Brokers or benefits consultants play important roles here. The professional could help you to get relevant data and also provide you with expert guidance that will help you to get the best outcome for your benefits investment. Furthermore, the broker is paid by the insurance company and could be willing to offer you the service at little or no extra cost.

Sometimes, the cost and values offered by different brokers may differ. So, you may need to get proposals from at least three professionals in order to get different perspectives on the cost and value.

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Yukon Employee Benefits Program Savings

Long-term costs could eat into your company’s profitability and should be avoided. When setting up the Yukon employee benefits program, you can avoid long-term costs in any of the following approaches.

1. Minimizing the carry-over of unused sick days.
2. Capping or placing a limit on the amount of coverage for a period of time.
3. Adding or including deductibles into the insurance coverage.
4. Sharing the premium cost between the employer and the employee.
5. Considering co-insurance or the level of insurance.

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Yukon Employee Benefits Program News

Seasonal workers in some parts of Canada will get up to five additional weeks of employment insurance benefits under a $189 million pilot project. The announcement was made at a fisheries plant in Escuminac, New Brunswick by Jean-Yves Duclos, the minister of Families, Children and Social Development.

About 51,500 workers in Atlantic Canada, Yukon and Quebec will benefit from the additional weeks of employment insurance. Duclos said that the government understands that some seasonal workers have long struggled to find enough hours of work to qualify for sufficient EI benefits that would carry them through the off-season.

Duclos pointed out that the key to finding long-term solutions to help seasonal workers is economic diversification and economic development and the government understands that this is a pressing issue that calls for short-term actions.

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