Big Benefits for Small Business - Choose the right group benefits plan for your company!
Why Group Benefits Plan?
Recruit ∙ Retain ∙ Retirement
✓ Attract new talent and grow your business
✓ Retain employees and your training investment
✓ Protect your business and employees
✓ Reward your dedicated team with benefits they value
✓ Provide Tax-Efficient Compensation
1. myFlex Plan
myFlex is a hybrid traditional group insurance plan that allows your employees to get access to the coverage they need and you can come in on budget. You as an employer define a budget per employee, and each of your employee make personalize benefits to fulfill the diverse needs.
As known as Health Spending Account (HSA), is a Canada Revenue Agency approved method to provide medical,
dental and vision benefits in a tax efficient manner. A corporation can write off 100% of the costs related to its HSA. All expenses reimbursed are tax- free to the employees. It works very differently than traditional group insurance plan or individual health and dental insurance programs in that there are no ongoing monthly premium payments required. With this plan, you pay your claim as you go.
Additionally, other less conventional expenses that would not typically be covered under a traditional benefits plan may be covered under HSA such as Laser Eye Surgery, Nursing Home Care, Speech Therapist, Orthodontic Services, Insulin Treatment, etc.
For the incorporated professional, the employer is the corporation, and the professional is the employee.
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3. Traditional Group Insurance Plan
Money Shield also offers traditional group insurance plan through insurance companies such as Manulife, Sunlife, and Great West Life.
Want to know which plan fits best for your company? Contact us and find out more information.