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Employee benefits FAQ
The basics of group benefits
Group benefits are insurance and wellness programs provided by an employer to eligible employees and, in many cases, their families. A plan can include health and dental coverage, life insurance, disability coverage and other services designed to help protect employees financially and support their well-being.
Every plan is different, but common benefits can include prescription drugs, health and dental coverage, life insurance, accidental death and dismemberment, critical illness, disability coverage, employee assistance programs, virtual care and other health and wellness services. Your plan can be designed around the needs and budget of your business.
Group benefits are provided through an employer or organization and cover a defined group of people under one plan. Individual insurance is purchased directly by a person or family. Group plans can provide businesses with a structured way to offer coverage to their employees while sharing or covering some of the cost.
There is no single number that applies to every benefits plan. Eligibility can depend on the insurance carrier, type of coverage, number of eligible employees and the structure of the business. Even very small businesses may have options, so it is worth speaking with an advisor before assuming your company is too small.
The insurance carrier provides and underwrites the insurance coverage. A benefits broker works with the business to understand its needs, compare available options, help implement the plan and provide ongoing support. Ingenious is an independent brokerage and is not tied to a single insurance carrier.
Cost & Choosing a Plan
It depends on the benefit. For example, employer contributions to qualifying private health services plans, such as many medical and dental plans, are generally not taxable benefits to employees, while other coverages can have different tax treatment. Because the rules vary by benefit and situation, businesses should confirm their specific tax treatment with their accountant or the Canada Revenue Agency.
Getting Started
Managing your benefits
Changes in your workforce should be reflected in your benefits plan. New eligible employees may need to be enrolled within specific timelines, while departing employees need to have their coverage updated or terminated appropriately. Ingenious and Plug-IN-Play help plan administrators keep these changes organized.
Plug-IN-Play
Benefits administration often involves information spread across emails, forms, spreadsheets and carrier systems. Plug-IN-Play is designed to keep important information and tasks more organized, help reduce repetitive administrative work and make it easier for plan administrators to know what needs their attention.
These are tools within the Plug-IN-Play experience designed to give businesses greater visibility into their benefits plan. They can help businesses understand pricing, explore potential plan costs and organize payroll-related benefits information without having to rely on disconnected spreadsheets and processes.
Privacy & Security
Employee benefits can involve personal and confidential information, so it is important that information is shared only through appropriate systems and with authorized individuals. Ingenious uses controlled business systems and processes to manage access to client information and continually works to improve the security of its digital services.
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