Group Insurance

Offering a group benefits plan to your employees can make a big difference to your small business.  You can attract and retain staff, improve morale and productivity and help keep your employees healthy and at work.  Our plans are designed to add value to your business by allowing you to offer comprehensive benefits at a competitive price.

Coverage requirements

Plans for groups with fewer than 5 employees must include: Employee life Accidental Death and Dismemberment (AD&D) and at least one of the following:

  • - Short-Term Disability (STD)
  • - Long-Term disability (LTD)
  • - Dentalcare
  • - Healthcare

Plans for groups with 5 to 35 employees might include: Employee Life and at least one of the following:

  • - Short-Term Disability (STD)
  • - Long-Term Disability (LTD)
  • - Dentalcare
  • - Healthcare

Group Benefits

The Group Benefits department at Sinclair Cockburn offers years of experience helping our clients establish employee benefits which are comprehensive and cost effective. As a broker, we access the market on your behalf to determine which carrier and plan design best suits your needs.
Special Plans:

  • 1-10 employees
  • 10 to 100 employees
  • 250-1000 employees

We are brokers, and as such, we will find the best plan for you. Whether it be one of our special plans or through our market surveys, let us prove to you we can provide the price, product and plan that you and your firm require.

Cost-Saving Measures

To help control claim cost, consider the following options that can be implemented on their own or together. We can help you determine which of these options best meets the needs of both your business and your employees.

Co-payment of coinsurance

Your employees pay a flat amount for services or supplies, and the plan pays any amount above. For example, your employee pays $20 toward each paramedical visit and plan pays any amount over $20, up to the benefit maximum stated in the contract.

Benefit Maximums

The benefit maximum is the most a plan will pay for a particular benefit, often over a set time period.
Other benefits allow you to select a maximum. For instance, you can select a visioncare maximum of $100, $150, $200, $250 or $300 that the plan will pay toward prescription glasses or contact lenses over two years. Employees are responsible for any amount over the maximum.

Deductibles

Healthcare or Dentalcare deductibles

The employee pays the full cost for services or supplies, up to a certain amount, over a specific period of time. For example, with a $50 family deductible for dental services, the employee pays the first $50 for services or supplies for his or her family per year. The plan begins paying after the deductible is reached.

Per prescription drug deductible

This feature allows your employees to share the cost of their drug plan. A per prescription deductible is a dollar amount your employees pay with each prescription drug purchased. There are a variety of choices ranging from $0 to $10.

Prescription dispense fee cap

The price of a prescription consists of an ingredient cost and a dispense fee. Dispense fees vary by pharmacy and geographic region. Once a dispense fee cap is implemented, all employees, regardless of where they shop or live, will be reimbursed up to the same dispense fee level. This option is not available in Quebec due to provincial legislation.

Drug maximum

The drug maximum is an option that allows you to choose a dollar amount that limits your drug plan’s annual cost per individual, after deductibles and coinsurance. Drug maximums are available in amounts from $1,000 to $15,000 to unlimited. This option is not available in Quebec due to provincial legislation.

 

 

 
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Chris Brown
Chris Brown

Vice President-Life & Group Division