Extended Health Care Benefits

Extended Health Care Benefits are a great way to provide tax-free benefits to employees in an area where it’s highly needed.

Health Benefits are customizable, but usually include coverage for the following:

  • Prescription Drugs
  • Paramedical Services (physiotherapy, naturopaths, chiropractic therapy, etc)
  • Medical Equipment
  • Vision Care
  • Private Hospital coverage within Canada
  • Emergency Out of Province Travel Health Insurance
  • Health Spending Accounts (for non-taxable health items)
  • Personal Spending Accounts (for taxable items such as gym memberships)

Claims under this benefit could be volatile, and its claims could easily sometimes be larger than historical levels and expected or projected levels. We offer two basic choices to fund this benefit:

  1. Participation in the co-operative: We provide monthly rates much like any insurance company, but if at the end of the calendar year your claims are lower than the projections, you receive a refund, and if not, you are not liable to pay back the deficit or penalized. However, if you are in a deficit position, your rates will increase in the following year.
  2. Self-insurance with appropriate stop-loss: Your claims are adjudicated by an insurance carrier, just like any other plan. However, you are responsible for claims up to the stop loss, and the insurer would cover any claims above the stop loss. If you are in a deficit position under the stop-loss level, you are responsible to pay that difference back.

We strongly recommend this benefit be funded as part of The Beneplan Co-operative.

Request a quote: 1-800-387-1670 or email admin[at]beneplan[dot]ca.