While the answer depends on the insurer, most insurance companies share a similar stance regarding COVID. If an individual contracts COVID while traveling and needs medical attention or needs to be hospitalized, the travel insurer will cover any cost associated with that. However, if an individual tests positive for COVID but does not require any...Read More
Experts say that the pandemic has accelerated e-commerce by five years. However, no one is talking about how the pandemic is evolving the group insurance industry. It has been one year since the beginning of COVID-19, and many companies are finally reviewing their group insurance. Last year most companies were unwilling to make any changes,...Read More
Group insurance can have a significant impact on a company’s financial position, but what is it that you are paying for exactly? What is considered insurance, and what is considered excessive fees? Dentists, opticians, osteopaths, massage therapists, chiropractors, and many other services are very limited during this pandemic. Employees do not have the same level...Read More
Dentists, opticians, osteopaths, massage therapists, chiropractors, and many other health care services are unavailable during this pandemic. Employees do not have access to such services, yet companies are still paying premiums for them during these difficult times. If your company is paying the same premiums as pre-covid19, you should contact your insurance providers or brokers....Read More
Eye care can be quite expensive and not very popular on private insurance plans. The government of Quebec recently launched a new program “see better to succeed” to aid parents, regardless of whether they have private insurance or not, with the cost of eye care. As of September 1st, 2019, all parents in Quebec are...Read More
A traditional group insurance model can be divided into two parts: Insured Benefits (life, LTD, AD&D, and travel)Experience Rated Benefits (health, dental, etc.) The bulk of your claims are made within the experience-rated benefits, in which lie hidden fees that are not shown on your renewal report. Further, experience-rated benefits can be divided into two categories:...Read More
A health plan is divided into two parts: 1. Insured benefits, which on average is 20% of your premiums. This is based on gender, age, salary, and occupation. It consists of; Life insuranceLong-term disabilityTravel health coverageAccidental death and dismembermentStop Loss These benefits are covered by insurance companies in both traditional and auto insured models. This is considered real...Read More
A health plan is divided into two parts: 1. Insured benefits, which on average is 20% of your premiums. This is based on gender, age, salary, and occupation. It consists of; Life insuranceLong-term disabilityTravel health coverageAccidental death and dismembermentStop Loss These benefits are covered by insurance companies in both traditional and auto insured models. This is considered real...Read More
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...Read More
Cutting benefits, or even reducing health coverages can often result in a loss of top performers of a company and difficulties in hiring new talent. Employers and brokers should work collectively to educate employees on how to efficiently use their health insurance plans. Here are 5 ways to help you reduce costs: 1. Shop pharmacies...Read More
