RRSP
For those staff members wanting to build a nest-egg for their retirement, an employer sponsored Register Retirement Savings Plan (RRSP) can be very helpful in those goals.
For business owners and the their key executives, Indiviual or Personal Pension Plans (IPP/PPP) can be a home-run!
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Immediate Tax Benefits are realized by the employee. That is, there is no tax incurred by the employee on funds deposited into their RRSP or DPSP account. The investment growth within the fund, including interest, dividends and capital gains is tax deferred as well. Only when funds are withdrawn does income tax become payable.
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RRSP's & DPSP's provide the advantage of the Home Buyers' & LifeLong Learning loans. There are no taxes applied at time of withdrawal for these programs however, the borrowed money must be repaid under a set schedule.
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Not being subject to Pension Standards Legislation allows much broader flexibility in tailoring the plan's rules. Although the plan must be registered, there is no government reporting required by the employer. As well, tax receipts for plan members are issued by the service provider.
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"Target Dated" funds......pick your expected retirement date and your RRSP will automatically reduce its risk exposure as that date draws near. Great opportunity for those not intimately involved with the management of their fund..
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Voluntary deposits allow plan members to increase their investment in support of their retirement goals.
RRSP/IPP/PPP
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IPP & PPP plans can allow for substatially higher contributions than an RRSP program:
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do not attract payroll expenses,
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funding and administration expenses are a fully deductible business expense,
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under certain conditions can claw-back to 1991,
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can have defined benefit or define contribution choices.
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"defined benefit" choice allows locking in of pension benefit.
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IPP's are creditor proof while most RRSP's are not.
Health Benefit
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electronic claims submission
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"NO FEE" Drug Card
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bilingual call centre
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Emergency Travel
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Out-of-Province/Country Student coverage
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Retirement Benefits
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Health Spending Accounts
Provincial & Stop-Loss coverages handle the big Health expenses for your staff however, this benefit picks-up those "consumable" expenses that aren't covered. Drugs deductibles are the biggest expense your plan will face in this Health section. Choice of drugs covered & management, accurate claims adjudication/delivery should be where your focus is.
The employer pays 100% of the cost of consumables plus an adminstration fee for these benefits.
Dental Benefit
Low income aside, there are no Dental coverages included in the Provincial plan. It's not unusual for annual "consumable" expenses for Dental to exceed Health. Quite simply, all Dental expenses incurred by your staff are your responsibility to pay. This is a group benefit highly relied on and, its design and delivery is scrutinized by your staff.
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Basic, Major & Orthodontic coverage
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Health Spending Accounts
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Direct payment to dentist office
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Accidental damage to teeth
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Adjustible Co-insurance and Deductibles
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Health Spending Accounts
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Retirement Benefits
The employer pays 100% of the cost of consumables plus an adminstration fee for these benefits.
LIFE & DISBILITY INSURANCE
Life, Dependent Life, Accidental Death & Dismemberment, Short & Long Term Disability Insurances are crucial in providing financial security for your staff and their loved ones.
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Life & Dependent Life Insurance
Provides life insurance protection in the
event of the untimely death of a staff member,
spouse or child dependent.
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Accidental Death & Dismemberment Insurance
For a covered member, this benefit can match
or double the the Life insurance benefit in
the event of accidental death.
In the event of Hemiplegia, Paraplegia or
Quadraplegia, of a covered member, up to
200% of the Life insurance benefit may be
payable.
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Short Term Disabilty Insurance
Provides a weekly income for a short
period of time, 15 weeks generally, when a
staff member is not able to maintian their
work schedule due to illness or accident.
These are invaluable benefits when
continuing an income during
unexpected disability is desired.
The majority of our plans are set-up so that
members receive their disability benefits
"Tax-Free".
We look at Contract Wording and the
Ability to Pay claims when selecting your
carrier for these coverages.
Custom
Designed Coverages
for all Company Divisions & Classes.
Informed Choices - Valued Solutions
Health, Dental & Vision - Life and Disbility Insurance & Investment
Vision Benefit
Members generally think of eye glasses, frames, lenses etc. with this benefit and, those are included. However, we feel your staff's safe & clear vison dictates that proper exam techniques and procedures be included in the coverage as well. Proper financial planning will offset the added cost of providing this additional coverage.
Our HYBRIDRX plans are the only effective vehicles that offer traditional styled plans, Drug Card, point-of-purchase
Dental coverage etc. which include a 100% refund of any and all "EXCESS, UNUSED PREMIUM"
at the end of each 12 month coverage period!
FACT: Health, Dental & Vision Benefit Expenses are 100% "Experience Rated"
Insured group benefit programs are priced with the expectation that the employer pays 100% of the total cost of all claims incurred by its' staff for:
- Provincial Health deductibles and/or co-insurances,
- those eligible products and services, included in your plans design, but not covered under your
Provincial Health coverages,
- those eligible Health, Dental and Drug expenses, included in your plans design, up to your
plans Stop-Loss attchment point,
- the Administration Fees charged by your carrier to manage your plan.
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Long Term Disabilty Insurance
Much the same as Short Term Disability
however, this benefit is paid on a monthly
basis instead of weekly.
Again, like the Short Term Disability
benefit, if one becomes disabled, the
value of this benefit is unmatched.
Disability benefits are quite simply the
foundation protecting the claimants
financial stability.
Any benefits received from this coverage
are usually set-up on a "Tax-Free" basis.
Paying particular attention to contract
wording allows our clients to make
coverage choices that see this product
protecting the way they intended it to.
HOURS & LOCATION
Location
141 Invermere Street
Winnipeg, Manitoba R3Y 1P7
CANADA
PH: 204-231-4371
FX : 204-231-4628
TF : 866-660-1466
Hours
Monday - Friday
9:00 am to 5:00 pm
Testimonial:
Jim reviewed my group benefits plan and pointed out a number of flaws including a potential liability problem. When Jim finished customizing our plan we ended up with much better contract wording and benefits, all at a reduced price. Service? Can't be beat!
George Beckta - President, (retired)
Winnipeg, Manitoba
Have a question? Need a quote?
Let us know below!
Call us today 1-866-660-1466