Groupbenefits.ca

Renewal Rate Analysis

WebInflation/Trend for the Health Plan. The following inflation/trend factors have been utilized to analyze the health plan rates: The annual inflation/trend factor is 15%, or 1.25% per …

Actived: 3 days ago

URL: https://www.groupbenefits.ca/group-insurance/renewal-analysis/renewal-rate-analysis

Health Care Spending Accounts

WebA health care spending account is a simple, tax-effective way to provide health and dental benefits flexibly. Through a Health Care Spending Account, employees can use pre-tax …

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Flexible Benefits

WebFlexible benefits can also be used as a mechanism for cost control by employers. The employer can define the level of funding (benefit dollars) for the plan each year, rather …

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Individual/Family Health Plans

WebNevertheless, an Individual or Family Health Plan can be of significant benefit for many individuals, particularly for those without access to a group benefit plan. An Individual or …

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Critical Illness Insurance

WebCritical Illness Insurance is designed to complement disability insurance and provide a non-taxable, lump sum benefit should the insured be diagnosed with a critical illness. While …

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Accidental Death and Dismemberment

WebAccidental Death & Dismemberment coverage is generally based on a flat amount of coverage (e.g. $25,000, $50,000, $100,000) or as a multiple of salary (e.g. 1 x salary, 2 x …

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Travel Medical Insurance

WebA Travel Medical Insurance plan can cover many expenses resulting from a medical emergency including the following: Hospital room and board charges. Emergency room …

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Short Term Disability

WebThe Short-Term Disability or Weekly Indemnity benefit is designed to compensate an employee for income lost as a result of short-term absences from work from an accident …

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Long Term Care Insurance

WebMany people think that our provincial health plans have generous long-term care benefits. What is not known is that a person must have income and assets below a certain level in …

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Cost Containment

WebCost-Shifting: The federal government's contribution to health-care continues to drop on a percentage basis. As a result, the burden on the provinces has increased which is in turn …

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Group Benefit Taxation

WebAlberta charges 3% Provincial Premium Tax on the cost of group life and health benefits. Quebec charges 3.3% Provincial Premium Tax on the cost of group life and health …

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Dependant Life Insurance

WebBenefit Amount. The most common amounts of Dependent Life coverage are $5,000 for a spouse and $2,500 per dependent child or $10,000 for a spouse and $5,000 per …

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Employee Assistance Plans

WebEmployee Assistance Plans. An Employee Assistance Plan is a professional counseling and referral service sponsored by the employer, providing service to employees and their …

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Underwriting Methods

WebThe underwriting method refers to the assessment of risk for the purpose of pricing group insurance. When underwriting a group benefit plan, there are three major considerations: …

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Long Term Disability

WebLong Term Disability. An extended illness or injury can create a significant financial hardship. Although employees will often express a greater demand for more visible …

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Renewal Analysis/Pricing

WebThe pricing of group insurance is dependent on many factors including: the level and frequency of claims. the credibility given to the claims experience. the plan design. the …

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