A group health benefit plan is important and vital to employees. As employers, these plans ensure a stable and long term employee base. A group health benefit plan is important to both the bottom line, and overall health of the company. You want to make sure that your employees are happy and well taken care of, and employee benefits are a major contributor.
Canadian Employee Health Benefits Plan or CEHBP is a group health benefit plan that uses a new design called Smart Plan. This plan provides small businesses stable premium rates. This allows employers to provide better group health benefits to their work force.
This employee health benefit plan works by unbundling the cost for employee health insurance from other benefits such as disability and life insurance, and other group benefits. The formula for determining the premium is simple. Take the current health benefit premium for the current year, then subtract the new cost for administering the plan. Next determine the level of deductible that your want. The remaining funds are then allocated to individual employees health benefit accounts.
By unbundling the health benefits that are part of a group health benefit plan, you can save money, as well as providing a high level of coverage to your employee base. The Canadian Employee Health Benefits Plan was developed with small and midsize businesses in mind. The plan provides an alternative to other group health benefit plans that are offered by large Canadian insurance providers.
Start saving today and investigate this new group health benefit plan. Your employees will appreciate it and your business will continue to thrive with a happy employee pool.