What Are Benefits?

Employee Benefits are a non-monetary part of an employee’s compensation package. Typically, benefit plans include two benefit categories:  Insured coverages and the Extended Health and Dental coverages. Other benefits might include a pension or group RRSP, an employee assistance or legal assistance plan and even health club membership.

Insured Benefits often include:

  • -Life insurance
  • -Accidental death and dismemberment (AD&D)
  • -Dependant life 
  • -Long term disability insurance (LTD)
  • -Optional life insurance
  • -Critical Illness insurance

Life, AD&D and Long Term Disability benefits are the most important benefits as they insure an employee’s income or provide money for survivors if an employee or dependant dies. The amount of the life benefits – the amount paid out when a claim is made – can be fixed or based on income. The disability benefit is based on monthly income. 

Rates are determined according to the demographic make-up of the organization. Life rates are based on the average employee age and gender mix of an organization while disability rates also take into account risks based on job requirements.

Extended Health Care coverage often includes:

  • -Drugs
  • -Vision care
  • -Private and semi-private hospital room
  • -Paramedical expenses - massage therapy, chiropractics, physiotherapy
  • -Out of province travel
  • -Private duty nursing

Dental Coverage often includes:

  • -Diagnostic (examinations, x-rays)
  • -Preventive (scaling and polishing, fluoride treatment)
  • -Restorative (fillings)
  • -Basic oral surgery (extractions)
  • -Endodontics (root canal therapy)
  • -Periodontics (periodontal scaling, root planing, gum disease treatment)
  • -Comprehensive oral surgery (surgery, fractures)
  • -Major coverage such as caps, crowns and dentures
  • -Orthodontic services

Health and dental benefits help employees and families to cover the costs of many health care expenses not covered by provincial plans. Premiums are a fixed amount determined by the plan design chosen. Rates are normally reviewed annually and rate changes are projections based on the organizations claims history and the anticipated impact of inflation.

 

BENEFITS INFORMATION.

For more information about ASSOCIUM Benefits, please click on the links below.

ASSOCIUM Benefits forms and plan offerings.