Understanding Group Benefits

Understanding Group Benefits

As the employer sponsoring the group benefits plan, it is important to find the best coverage for your employees. But to find the right coverage will also mean having to properly understand what your policy means.

Here are five common group benefits terms and what they mean

1. Extended health coverage

Extended Health Coverage helps pay medical expenses that are not covered by provincial health plans. What is covered, how much coverage you have, and your deductible amounts will all depend on the plan you have.
You plan can include the following:
• Hospital care
• Prescription drugs
• Medical services and equipment
• Paramedical services
• Out-of-province/country emergency medical care
• Vision care

2. Paramedical Services

Paramedical services are services provided by professionals who are not in the public health system (i.e. not a doctor). These services will include things such as chiropractic services, physiotherapy, massage therapy, naturopathy, acupuncture, and more. These services require a certified professional to perform them and different type of services will have different criteria for submitting a claim, such as needing a doctors note or that the service provider be certified by a national or provincial association. 

3. Coinsurance

Coinsurance is the percentage of costs of a covered health care service plan members pay.

4. Premium

The premium is the cost that an individual or business will pay for an insurance policy

5. Plan Administrator

This is the person at your company who manages the group benefits plan. The administrator works closely with the plan provider to ensure that the plan meets your needs and can also handle administrative tasks such as adding and removing members to the plan. 

Contact one our Benefits Specialists today to help you get started on your group benefits plan or to get second eyes on your current policy. Email us at This email address is being protected from spambots. You need JavaScript enabled to view it. or call us at 905-696-9090 

Source: Equitable Life of Canada


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