Group health insurance

Offering health insurance to your employees as an employer allows you to look after employees' health and well-being – contributing to an overall happy and invigorating work environment.  

Since group insurance allows risk and premium amounts to be shared amongst a large group of people, it makes them more cheaper compared to individual health plans. 

Employers who offer group health insurance can receive tax advantages under certain sections under the Income Tax Act, such as a tax-deductible.

• Enrolling in a SHOP plan can allow a small employer to claim the Small Business Health Care Tax Credit. 

Compared to individual or family health insurance, employee health insurance may be available at a cheaper premium due to the total amount being shared with fellow employees.

Group health insurance allows an employee to provide health insurance for their family under a single plan.  Coverage for families depends on type of policy, but mostly covers costs, like medicines, maternity, and more. 

Group health insurance allows you to file a claim for any pre-existing illnesses on the first day of coverage, so there are no waiting periods. 

An employee can claim the benefit of a group health insurance tax deduction under the Income Tax Act when paying a health insurance premium for yourself or your family members. Overall, claiming a tax deduction on a medical expense allows you to save more.