Attracting top talent can often be a difficult task for HR professionals. One way to make a position more appealing is to offer superior health coverages. Introducing the health plan that covers everything – FLEX plan.
Younger employees may look for orthodontic coverage for their children, compared to older employees who may look for more frequent visits to a masseuse. Given these specifications, a global health care plan may not meet all employee needs. That’s where FLEX comes in play – it gives employees a predetermined amount to spend on any health expense.
How does it work? There are no limits on prescription drugs, paramedic services, or hospitalization services. All other health care services such as vision care (glasses, contact lenses, laser eye surgery), medications excluded on Health Care plans (fertility drugs, erectile dysfunction drugs), paramedical practitioners (psychologists, optometrists, acupuncturists), and all medical expenses that qualify under the CRA have a predetermined amount to spend.
Additional coverages under the CRA include:
- Medical marijuana
- Premium cost of gluten product for patients that suffer from celiac disease
- Moving and renovations expenses for people with mobility impairment
- Tutoring services for people with learning disability
Finally, if an employee does not claim the maximum amount, the remaining balance that was not used at the end of the year will automatically be carried forward to the following year and will remain available for a period of 12 months. If the credit amount carried forward is not used by the end of the next plan year, this amount is forfeited.
Many employees feel like they are paying too much for a plan they are barely using, but this isn’t the reality with FLEX. FLEX plan offers a fair system for all employees to efficiently enjoy and allocate their health coverages.
To learn more about the flex plan or how to implement it to your company’s insurance plan, join us at our lunch and learn on May 2nd, 2019 at the Graziella Restaurant. Spots are limited, sign up now!
