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- Group Insurance is purchased by employers on behalf of employees to provide benefits coverage to employees and their dependents. Employers are required to participate at a minimum rate of 50% of the cost of the program chosen. Insurance companies require a high percentage of participation among employees in order to make programs feasible.
- Group Insurance provides employees with the opportunity to access insurance coverage that could otherwise be prohibitive by cost. Many coverages are also available without having to provide medical history. Premiums paid by the employer on behalf of employees are tax deductible. The security provided to employees by benefit packages helps to encourage a productive atmosphere in the workplace.
- Group Life Insurance provides either a flat benefit, such as $25,000 or a percentage of the employee salary, depending on the plan chosen.
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benefit provides coverage as specified in the plan chosen. The amount of coverage usually corresponds to the amount reflected by the Group Life Insurance plan.
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Dependent Life Insurance provides coverage for spouses and dependent children.
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Extended Health Care benefits provide coverage for the following expenses to the degree specified by the plan:
- glasses
- hospital stay
- prescription drugs
- hearing aids
- nursing care
- paramedical services (Chiropractors, Psychologists)
- phsyiotherapy
- emergency ambulance
- emergency travel benefits
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Short Term Disability benefits provide coverage for employees unable to work in the short term at a percentage of weekly earnings to a maximum specified by the plan.
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Long Term Disability benefits provide coverage for employees unable to work at a percentage of monthly earnings to a maximum specified by the plan and commences at the point that Short Term Disability is exhausted.
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Dental Benefits are outlined as applicable to either the basic, major restorative, or orthodonics plan, as chosen.
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Basic Dentistry includes check-ups, cleanings, fillings, consultations, oral surgery, periodontic work (gum disease treatment), endodontic work (root canals), denture repair, relining and rebasing. Benefits for Basic Dentistry are reimbursed at a rate of 60%-100% of the current general practitioner fee guide ranging from $500 to an unlimited amount per calendar year.
- Major Restorative includes crowns, bridges and dentures. Benefits are remimbursed at a rate of 50%-80% of the maximum ranging from $500 to $3,000 per calendar year.
- Orthodontics are reimbursed at a rate of 50%-60% of the maximum ranging from $500 to $3,000 per lifetime.
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