Big Benefits for Small Firms
Underwritten by Sun Life Financial, one of the most financially
secure financial institutions in North America, this plan is
available to all members of the Better Business Bureau of the
Maritime Provinces Inc. There are special benefits available for 1-2 employees.
The benefit packages for 3 employees and up include:
LIFE INSURANCE
Plan One: 1 X Annual Salary
Plan Two: 2 X Annual Salary
Plan Three: 3 X Annual Salary
Plan Four: Flat $25,000
ACCIDENTAL DEATH AND DISMEMBERMENT
(Matches Group Life Schedule)
DEPENDENT LIFE
EXTENDED HEALTH CARE
Benefits include prescription drugs, semi-private
hospital, glasses, physiotherapist, chiropractor, massage therapist,
psychologist, Out of Canada benefits - emergency travel, nursing,
hearing aids, etc. There are four plans available, each with three
options, for a total of twelve different plan designs. The plan uses
a drug card with either a $2.00 or 20% co-pay for either a generic
substitution plan or a managed health care plan following the
government benefit plan.
DENTAL BENEFITS
There are four plans available for 3 or more lives.
Plan One: Basic Dentistry - 80%
to include check-ups, cleanings, fillings, consultations, oral
surgery, periodontic work (gum disease treatment), endodontic work
(root canals), denture repair, relining and rebasing.
Plan Two: Basic plan covers 100%
with no deductible.
Plan Three: The same as Plan Two
with the addition of major restorative benefits such as crowns,
bridges, and dentures all reimbursed at 50% to a maximum of $1,500.
per calendar year per individual patient.
Plan Four: The same as Plan Three
but includes a 50% benefit for orthodontics to a maximum of $1,500.
SHORT TERM DISABILITY (not available for 1 and 2 lives)
Provides benefit from the first day of an accident or the eighth day
of sickness to a maximum of $750 per week at a rate of 66 2/3% of
weekly salary. This benefit will replace Employment Insurance which
will allow an E.I. premium reduction for employers. The standard rate
of 1.4 times the employee rate will be reduced to 1.29 times the
employee rate.
This benefit can be either taxable or non-taxable.
LONG TERM DISABILITY (not available for 1 and 2 lives)
Provides taxable or non-taxable benefits payable to age
65 at 66 2/3% of monthly earnings and can include a cost of living
adjustment to a maximum of 3% per annum. The benefits include a
partial disability benefit payable at the rate of 50% to a maximum of
two years. The definition of disability is the inability to perform
your occupation for two years. Thereafter the inability to perform
any occupation for which you are reasonably qualified by training,
education and experience.
TEN REASONS WHY EMPLOYERS SHOULD CONSIDER BUYING THE GROUP INSURANCE PLAN OFFERED TO MEMBERS OF
Better Business Bureau of the Maritime Provinces Inc.
Employee Benefits are generally considered to be the 2nd most important factor in an employee’s feelings about his work environment.
1.
SUN LIFE FINANCIAL- As the carrier Sun Life is large, solvent and has developed cutting edge technology to support their group products and is committed to the business.
2.
SERVICE FROM OUR OFFICE- We provide 24 TO 48 hour turnaround time for quotes, proposals, changes to plan design and additions and deletions of employees. Our staff goes the extra mile to ensure customer satisfaction. Changes to an employee, such as marital status, home address, terminations etc. can be done over the phone, through our toll-free number 1-800-565-1908, via e-mail joanne@cjmatthews.com . New employees and change of beneficiary still require an actual signature by the employee.
3.
EASY CLAIMS PROCESS- Prescription drug cards ensure payment to the pharmacy and no fuss for the customer. Dental claims can also be adjudicated this way. The dentist can determine on-line what payment will be received and most dentists will wait for the cheque from Sun Life rather than make the employee pay. Some physiotherapists can use this system as well. This means that 80% of all claims do not require an outlay of cash by the employee. In addition, claims which require payment by the employee can be reimbursed directly to the employee’s bank account.
4.
INTERNET ACCESS FOR EMPLOYEES- Employees can access their own personal site to determine the status of claims that are not prescription drugs or dental. This is also useful in determining, when the last pair of glasses was purchased, or how much was used.
5.
EASY ACCESS TO SUN LIFE FORMS- We make available a PDF file of all the forms that the client needs, in addition to the administration kit which the employer receives which includes a selection of forms.
6.
NEWSLETTERS- We provide a monthly health newsletter to all employers, which provide helpful hints on health issues that the employer and his/her employees may encounter. This is also available on our website. Sun Life provides information on a wide range of topics in their monthly newsletters and is updating their website in the last Quarter to include health information
7.
CLAIMS EXPERIENCE ALERTS- Because of privacy laws we are only able to provide the employers with general information. We provide alerts to employers every 3 months if they are facing a big rate increase due to adverse claims experience. We provide helpful tips to employers on how to control claims.
8.
FLEXIBILITY- Because of the size of the plan (premium wise) we can meet most employer needs for group insurance.
9.
RATE GUARANTEES- The 1st renewal occurs April 1st 2008 for all groups written now, this will give each new group a rate guarantee of at least one year and as much as 23 months. New cases written in May 2006 and later will be renewed in April 2008. Thereafter every renewal after the first is April 1st of each year.
10.
BETTER BUSINESS BUREAU- This plan is designed to assist small to medium sized companies which is primarily what the BBB attracts as its membership base. The plan has all the flexibility of a large group because of its size. The plan is exclusive to BBB members and is only sold by agents approved by the local BBB’s.
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Learn more about C.J. Matthews & Associates Limited by visiting the About CJM section of our website or contact us to arrange a personal meeting to discuss your particular need(s).
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