- Suite 311 – 15 Dartmouth, Rd, Bedford, Nova Scotia, B4A 2M9
- 1-902-877-6555
- geoff@equisgroup.ca
Group Insurance, Employee Benefit Plans
Halifax, Nova Scotia
Our 20+ years experience tells us that group insurance carriers like to offer a low price in your first year, then increase your price in the following years. We understand how this works and can help advise you on what to look for. Let us show you the secrets in the math. The biggest difference between carriers is how they calculate your renewal price next year.
We save clients across Nova Scotia upwards of 30% when they move their group benefits to us. Our goal is to save you money right away, and then continue the savings as the years go on. We can do that because we work with all insurance carriers.
We get quotes for you from the best carriers and present the findings in a way that makes it easy to understand. We are paid commission by the carrier you choose, and only if you decide to accept our recommendations. There is no cost for you to use our group insurance brokerage services. Every business is different. Our goal is to find you the lowest price for a plan based on your needs, and then to build your trust over time.
Why use a broker?
We are the advisor in your corner. You tell us what is important to you so that we can outline the items you need to consider most when comparing quotes. Anyone can contact an insurance carrier and get a quote. Knowing which quote to choose is a different story.
The small differences between the quotes are important. Understanding which quote will lead to a big increase next year is important. We aren’t looking to sell you a group plan for a year. We are interested in long-term partners.
Here’s the playbook that will help identify the best employee benefits insurance for you
- You tell us about you and your employees
- We get quotes from the best insurance benefit carriers
- We present recommendations in a way that makes choosing the best health plan easier
- Ongoing Support – we are you first point of contact for any health plan needs going forward. You will receive a quarterly report on how much premium you’ve paid in vs how much the employees have spent in claims.
Here are the carriers we choose most often with our clients:
Here is a list of products you will choose from in a group plan.
Employee Life Insurance
- Provides coverage for employee’s family in case of untimely death.
- You will choose the amount of coverage. Some choose the same amount for everyone such as $10k or $25k. Others prefer the coverage to be a multiple of income such as 1 times, 2 times, or 3 times annual income.
Accidental Death & Dismemberment
- Provides coverage equal to the amount of life insurance on your plan. If the death is accidental, you’d be paid the amount of life insurance coverage twice. It also provides coverage for loss of limbs, sight, speech, or hearing. With this coverage, your payout will depend on which limbs you lose as a percentage of your life insurance protection.
Dependent Life Insurance
- Provides life insurance for dependents covered on the plan. Standard coverage is $10k for spouses, and $5k for children. This is optional coverage, and the amounts can be increased or decreased.
Critical Illness Insurance
- Provides a lump sum payment to the employee tax-free if they are diagnosed with a covered serious illness. The most common illnesses covered are heart attack, stroke, and life-threatening cancer. Claims paid are based on the diagnosis from the doctor.
Short-Term Disability Insurance
- Provides coverage if an employee is unable to work due to an illness or injury for up to 17 weeks. Standard coverage is anywhere from 50% of 66.7% of your weekly earnings. You may have to pay income tax for this benefit if your employer pays your premium.
Long-Term Disability Insurance
- Provides coverage if an employee is unable to work due to an illness or injury. Standard coverage is 2/3rds of monthly income. If the employee pays this premium, the payout is tax-free on disability claim. If the employer pays for this, the benefit is paid as taxable income.
Virtual Doctors
- Gives you quick access to a doctor. Once registered, you can talk to a doctor in minutes virtually through you phone, tablet, or computer. Most family doctors offer virtual appointments today, but it can take weeks to get to your appointment.
Drug Coverage
- Provides coverage for eligible prescription drugs. The claims process is simple. You show your drug card to the pharmacy, and they bill directly to the carrier on your behalf. You can also buy your drugs online, and have them delivered to your door.
Vision Coverage
- Provides coverage for eye exams, contacts, lenses, frames, and laser eye surgery. You will choose the amount of coverage available to employees on a 24-month basis. Children under 18 can use this coverage every 12-months.
Extended Healthcare
- Helps to provide coverage for items not covered on your provincial plan. Covered items include:
- Ambulance Coverage
- Hospital Coverage
- Travel Coverage
- Nursing Care
- Medical Appliances
- Hearing Aids
- Custom Orthotics
- Practitioner coverage such as Chiro, Physio, Massage, Acupuncture, Naturopath, etc
- You will determine the amount of coverage employees get at each practitioner per year. Standard amounts are $300, $500, and $750.
Dental Coverage
- Basic & Routine
- Provides coverage for all your basic dental needs. Check-ups, cleanings, fillings, polishings, tooth extractions, etc
- Major Restorative
- Provides coverage for bridges, dentures, crowns, inlays and other major services.
- Orthodontics Coverage
- Provides coverage for orthodontic work for children up to age 18.
Employee Assistance Program
- A work-based program that offers free and confidential assessments, short-term counseling, referrals, and follow-up services to employees having personal or work related problems. We have an agreement with one of the largest EAP providers in Canada for preferred pricing. Starting at $2.97 per person
Health Spending Account
- Employees get coverage annually for a predetermined dollar amount for medical and dental expenses not covered by the plan. This can help employees cover the out-of-pocket expenses incurred with their co-pay or when they reach benefit maximums. This type of coverage is often used to cover extra expenses for glasses or practitioner coverage.