Why is Having a Group Health & Dental Plan a Good Idea?

Are you a business owner looking for ways to improve your business and compensate your employees? Group benefit plans are a great tool for business owners and can greatly improve the quality of your company.

Signing up for employee health and dental benefits gives you and your employees access to insurance products that might be available on an individual basis. The greater number of people seeking benefits, the better group plan you’ll have access to – and at a significantly lower cost that individual insurance.


Furthermore, groups of three or more do not have to complete medical questionnaires, so you and your employees will not be subject to exclusions or denial based on pre-existing health conditions.

In addition to the increased availability of insurance products, group benefit plans provide tax benefits for both the employee and the employer. Business owners are able to write off any portion of the group plan they pay for as a business expense, making benefit plans even more affordable than some might think. If you choose to have your employees pay for their benefits, they will be considered non-taxable to the employee.

Some business owners choose to include benefit plans as part of employee compensation and are often offered to employees instead of a monetary raise. This benefits the employee by not increasing CPP and EI deductions on their paycheck.

Other benefits of group benefit plans:

  • Travel insurance; employees don’t have to purchase additional insurance when travelling out of province or out of country.
  • Improved employee health; with access to extended health care benefits, employees can take better care of themselves outside of the workplace.
  • Improved morale; providing benefits for your employees lets them know that you, as an employer, care about their health and well-being, leading to a more cohesive and productive work place.