Gilgunn Benefit Management is a Victoria, BC custom group insurance broker. We are able to provide benefits in BC and Ontario.
Group Benefit Plans
As part of the group benefit program, we offer employee on-boarding. This can be done in an in-person meeting (recommended) or in a series of webinars and recorded video (for anyone who missed the meeting, or additional employees). We welcome employees to contact us to discuss individual planning needs as well, especially where the group life or disability/critical illness coverage is not sufficient for their individual needs.
Life Insurance
Life insurance is a base feature in most group benefit plans. The range is usually $10,000 (final expense coverage) to 3x an employee’s salary or income. There is usually a “non-evidence” maximum - a limit before medical questions are required for additional coverage.
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Health & Dental component
The Canada Health Act of 1984 harmonized Medicare across the country, however, each province and territory administrates its own system and coverages. The covered services are usually only medically necessary and in-hospital. For this reason, additional health & dental coverage is offered by private insurers. Covered services could include:
Prescription drug coverage
Massage Therapy
Counselling
Chiropractic/Physiotherapy
Dental cleanings
Dental fillings, extractions, etc.
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Some other notes about healthcare in Canada:
Canadians healthcare plans are funded out of provincial revenue or - in some provinces - a payroll tax on employers.
Provincial coverage differs - midwives are covered in BC, but not in Prince Edward Island, for example. The provincial drug formulary lists differ as well.
Ontario and BC (for example) both have drug plans to help seniors/children/low-income families. BC Fair Pharmacare is usually a requirement for private insurance plans, as it potentially further limits the risk. After a family deductible, approved drugs (not all are) are covered at 70%, then 100%. Everyone can register for Fair Pharmacare (deductible is income-based).
Health care costs are increasing at a much higher rate than the CPI (this study is great overall, but page 6 shows the graph of the cost increase).
The insurers pay up to the fee guide, which changes each year. Some practitioners and dentists charge above the fee guide. For example, a cleaning covered at 80% could cost $140 total. If the fee guide was $120, the insurer would pay $96 (80%) and the patient would pay $24 for the co-insurance (20%) plus the $20 that was above the fee guide.