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Group Benefit
Group Critical Illness Insurance for Small Business
Features That Help Small Business Owners Manage Costs
Comprehensive Benefit Solutions for Small Business
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Jake Jun Qiao, Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), Member of Million Dollar Round Table (MDRT). Please contact me for any financial planning inquires.

 

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Features That Help Small Business Owners Manage Costs

Small business clients are always looking for ways to manage their costs more effectively. We’ve taken a close look at how to help them sustain affordable group benefits programs. Here’s what’s new:

Keeping group benefits affordable

Experience has more of an impact
 
Although our pricing model has included an experience component for years, it can now accommodate two experience periods. This lets us apply greater credibility to a group’s own claims experience and is also taken into consideration at the group’s first renewal.
 

Keep it simple 

Only paid premiums, paid claims and current rates are required for cases that have existing coverage, keeping information requirements to a minimum.
 

Extended Health Care 

Small business clients now have the option to include or exclude each of the following:
 
• vaccines (now available for reimbursement drug plans too);
 
• surgical stockings (limited to $400 per plan member per calendar year);
 
• orthopaedic shoes and orthotics.
 

Professional Services 

• Currently, AlphaPlus® offers a per-practitioner annual maximum for professional services. Now, you can choose a combined maximum to help clients manage these escalating costs more effectively.
 
• In addition, there is enhanced flexibility with the choice of four different practitioner bundles:
 
• Basic: includes chiropractor, psychologist, physiotherapist;
 
• Standard: Basic along with osteopath, podiatrist, speech therapist, naturopath;
 
• Standard Plus: Standard along with massage therapist;
 
• Enhanced: Standard Plus along with acupuncturist.
 
• When clients choose a coinsurance amount for paramedical services, the coinsurance for medical services and supplies will automatically match.
 

Out of country coverage 

• The $5 million dollar maximum out of country benefit is intended to protect active plan members while travelling outside of their province on business or pleasure. A 60-day trip limit is being introduced that will continue to provide appropriate coverage to meet the travel needs of most plan members while helping plan sponsors control costs.
 

Eye exams 

• Eye exams are now covered once every two calendar years to align with the vision care benefit.
 

Dental 

• Dental implants – For clients with major restorative coverage, dental implants will now be considered an eligible expense under the Alternate Benefit clause.
 
• Bitewing x-rays – This benefit will allow two films per recall visit, ensuring that plan members get the diagnostic services they require to manage their dental health.
 
• Dental scaling – To align with Canadian Dental Association recommendations and the industry, our new standard will be to provide eight units of dental scaling – one unit of scaling with each recall along with six additional units of periodontal scaling as
 required. For clients located in Quebec, periodontal
 scaling will be limited to eight units.
 
• Flouride treatment – Currently, coverage for fluoride treatment includes both adults and children. Clients now have the option to exclude adult coverage to help reduce costs.
 
• Oral hygiene instruction – Coverage for oral hygiene instruction is being removed. Oral hygiene instructions are available on the Canadian Dental Association’s website. Plan members can find the link on www.manulife.ca/groupbenefits. These instructions may support parents in educating their children on proper oral hygiene and at the same time, help plan sponsors reduce their dental costs.
 

Termination age options 

• For Extended Health Care, Life and Dental, the termination age options for active members are now 65, 70 and 75, or prior retirement.
 
 
 Simply dial 416-835-8805 for details.
 
 
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