Group Long-Term Disability Insurance
Coverage that provides a monthly income.
Group Long Term Disability is coverage that provides a monthly income. If an employee is unable to work due to an accident and or sickness, group disability can provide coverage up to certain levels, regardless of health.
The cost is generally a blended rate based on the makeup of the group. Group disability is generally provided at a dramatically lower price when compared to the cost of individual disability coverage. The ability to offer coverage up to certain levels regardless of health is a huge benefit; many employees would not be able to get coverage without this feature.
Many say that Long-Term Disability is the best value offered among group benefits.
For more plan information, call us Toll-free at 1-866-936-1548 and we can discuss your wants and needs.
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What is extended health care?Extended health care can be grouped as whatever the government health plans do not cover might be covered in the group health plans subject to the coverage decisions. Typically items like prescription drugs, chiropractors, massage therapists and physiotherapists and more paramedical providers, Vision care, out of country emergency insurance and a variety of covered items are included in extended health care.
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What kind of Extended Group Health plan is best?There are multiple plan types in group health, insured experience rated, insured pooled and self-insured. All plan types can be good; it just depends on your situation.
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Are extended health benefits a taxable benefit?Extended health benefits are a non-taxable benefit and, due to this tax treatment ,the market has developed around employers providing coverage to its employees. The plans available in the market are generally available to employers at lower prices and better terms than an employee could buy for themselves.
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How does the claims process work?Claims are progressing faster and faster. From pay-direct drug cards with instant payment at point of sale; online and mobile app claims submission; direct service provider submission; the pace of claim reimbursement is increasing all the time. The percentage paid on a claim is typically a choice made in the plan design by the plan sponsor.
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Who pays the claims?The insurer or service provider pays the claims.
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What is a health spending account?A health spending account is a set amount of money which can be used to pay for CRA eligible medical expenses.
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