Three Important Coverages in Your Employee Benefits Plan
When considering an employee benefits plan, consider the following three coverages as the basics. This not only ensures that employees have the right level of coverage but also helps save you money on coverages that may not be needed.
- One of the most used coverages in many employee benefits plans, typically accounting for close to half of claims expenses.
- Plans range from basic services such as cleanings and maintenance, up to major services including orthodontics.
- Coverage can be 100% or on a co-pay basis, where the employee pays a portion of the overall cost.
Extended Health Services (EHS)
- Provides employees with coverage for a variety of different health services.
- Provides protection against the high cost of prescription drugs and includes other services that are not typically covered by the client’s provincial health care plan, such as vision, medical supplies, ambulance, and professional therapists.
- One of the most used coverage areas under EHS is paramedical services, such as massage therapy, physiotherapy, and chiropractic, but coverage for psychologist, speech therapy, and acupuncture may also be included.
- Provides income replacement if an employee becomes disabled and is unable to work.
- A covered disability may include an injury, a serious illness, or a mental health issue.
- Traditionally broken down into two separate categories: short-term (up to 17 weeks) and long-term disability (after 17 weeks).
Discover more about the program by contacting Mike Madison, Director, Employee Benefits Sales, at 1.800.665.8990 ext. 7248.
Visit the Western Financial Group Hospitality Insurance Program to find out more!