Archive for November 10, 2013

How Health Care Plans Can save Your Company Money

Written by Small Business Tips. Posted in Dental insurance for small business, Health spending account cra, Travel medical insurance

Small business health insurance benefits

Unlike in the United States, health care in Canada is provided by a publicly funded health care system which is regulated according to the Canada Health Act. Under this system, most procedures are free for patients, as the doctors are reimbursed by the state. The system is funded by taxes and, in some provinces, by annual premiums. On top of the services the government provides, many businesses also offer their employees supplemental coverage. This is usually used to cover things like dental, vision and prescription drug costs that are not otherwise covered under the government plan.

These employer provided plans, combined with out of pocket expenses, end up accounting for almost a third of health care expenditures in Canada. Thus, one of the biggest challenges for Canadian companies,