Group Insurance Plans
A customized plan for each employer
Your plan is designed to fit your particular needs. We’ll work with you to ensure your expectations are met. You’ll have the option of including one or more of the following benefits in your plan:
Benefits may be a fixed amount for all employees, or an amount based on a multiple of their salary. In most cases, employees can buy additional life insurance for themselves or for their dependents. The plan may also include an accidental death and dismemberment insurance and a fixed life insurance benefit for your employees’ dependents.
Short-term Disability Insurance
The employee’s salary in the event of disability. A choice of elimination periods (e.g., 0, 7 or 14 days) and benefit periods is offered. Short-term disability refers to a period of four months or less from the beginning of the disability, after which the disability is considered long term. Benefits may be taxable or non-taxable.
Long-term Disability Insurance
The insurer pays the employee’s salary in the event of disability. A choice of elimination periods (e.g., 105, 119 or 182 days) and benefit periods is offered. Payments begin either after short-term disability benefits expire, or after employment insurance (disability) benefits end. Long-term disability benefits may be taxable or non-taxable.
Health Insurance (including prescription drugs)
Group insurance plans in Quebec must offer at least the same coverage as the Quebec prescription drug insurance plan, and some cover much more. The health insurance portion of group benefits may cover medical services and equipment, hospitalization, ambulance service, private labs, vision care and paramedical services (provided by chiropractors, physiotherapists, psychologists, and others). Travel coverage could be included as well. Employers can also select from other options, deductibles and benefit amounts.
Dental insurance plans usually come with three options. The first option includes basic (or minor) services such as cleaning, fillings, extractions, x-rays, endodontics and periodontics. The second option includes major services such as bridges, dental prosthetics and crowns. The third option, orthodontics, is possible with a large pool of employees. Deductibles and benefit amounts vary depending on the option(s) the employer selects.
Critical Illness Insurance
Employees diagnosed with an illness covered under the contract (such as cancer, stroke or cardiac disease) receive a tax-free lump sum benefit, the amount of which varies according to the plan the employer selects.
Health Spending Account
For added flexibility, employers can set up health spending accounts in which they deposit an amount that employees can use to cover the eligible medical expenses of their choice, up to an authorized limit.
Employee Assistance Program (EAP)
This confidential program, available to employees and their families, provides support when problems arise in their personal or professional life. These can be family or professional problems, mental health challenges or substance abuse. The service is accessed by dialing a 24-hour toll-free number and is available 365 days a year. Some EAPs may also offer private consultation services.
Fully Insured or Self-insured Plans
Most plans are fully insured by an insurance company. Employers pay the insurance premiums, and the insurer assumes the entire risk. In some cases, it may be more beneficial for the employer to assume a portion of the financial risk tied to the insurance coverage, especially for health and dental plans. This option requires an in-depth examination of the employer’s needs and tolerance levels. MPA can carry out this analysis and organize an appropriate plan.