And why offer group insurance to its employees, already?

 And why offer group insurance to its employees, already?

 

Over the past decade, statistics have shown that nearly three out of four businesses (over 70%) have a group insurance program. A group insurance program tailored to the needs of both the business and its employees allows these businesses to stand out from the competition.

Having group insurance is one thing, having the right insurance plan at the best price is another. In Quebec, group insurance provides additional and complementary protection to programs already offered by the government. Whether in terms of health care or income security (in the event of disability or work-related accidents), group insurance helps guarantee the physical, mental and financial health of employees and their families. The health of the business is also a factor, with good group insurance both keeping the best employees AND recruiting new ones who are among the cream of the crop.

In 2020, if you have a health insurance card, you have the obligation to be "covered" by one or the other of these plans:

    a private group insurance plan offering you basic drug insurance and other guarantees such as life insurance, disability insurance and paramedical care, as well as additional cover (dental care, vision care, etc. )
    the Quebec public prescription drug insurance plan (RAMQ)

Join your employer's group insurance plan

If you have the possibility of being covered by a group insurance plan, you are required to join it. I repeat: obligation. Because if the government discovers that you had the possibility of subscribing to your employer's group insurance plan and that you failed to do so, you will have to pay a contribution to the Quebec prescription drug insurance plan (contributions that can sometimes be increase to over $ 600 per spouse - 2019 data).
Convert your group insurance into individual insurance

When you quit your job (voluntarily or not), do not hesitate to contact us for more explanations on the various terms and conditions related to your group insurance. In this regard, first know that you have 60 days to convert your group health insurance into individual health and care insurance. Also note that you have 31 days to convert your group life insurance into individual life insurance, without having to provide any proof or medical questionnaire whatsoever. If you are still not covered by any private or public plan ... what are you waiting for?
Are start-ups eligible for group insurance?

Of course, if you already have some experience with small and medium-sized enterprises (SMEs), it is quite possible to get a suitable group insurance program. The various group insurance companies also encourage new businesses by providing them with assistance to enable them to control the costs of the group insurance plan.
Can a business with only two employees offer them group insurance?

Even if your business only employs two people, it is possible to purchase group insurance. Some financial institutions also offer excellent group insurance programs at a lower cost and advantageous for SMEs with fewer than 100 employees.
If my employer provides a group insurance plan, am I required to join it?

You must subscribe to it, as well as the members of your immediate family. It's the law. And if your spouse has already taken out group insurance with their employer, you can request an exemption in order to integrate their group insurance plan. Find out about the cheapest plans, and compare warranties to make sure you get big savings.
What if my employer does not want to change the company's group insurance plan?

It is in the interests of the employer and employees of an SME to frequently compare the different group insurance plans offered by insurance companies. They thus keep abreast of the various protections offered, and are thereby assured of getting the best price on the market.
What if the company’s insurance broker doesn’t want to change the group insurance plan?

Note that it is not for the broker to decide, for the company, whether the latter should keep its group insurance (or not). He only represents the group insurance company. Point. Every employer and every employee has the right to obtain the best price for their group insurance.