Small businesses are the lifeblood of the Canadian economy. According to Statistics Canada, almost 98% of all employer businesses in Canada are small businesses (with less than 100 employees). GroupHEALTH understands that there are many small businesses with just a handful of employees; these companies face a very different reality compared to those with 100 employees. While being small can have its advantages, it can also be really challenging. We get that. That’s why GroupHEALTH works hard to support small businesses with employee benefits information, tools and products tailored to small businesses.
We Started Small
GroupHEALTH began like many other small businesses – in a home office in a small town. In our case, it was 1982 and it was Prince George, British Columbia. We experienced the triumphs and challenges of growing a business from only a few employees to more than 700. The good news is, that we still remember what it’s like to be a small business.
We know that when you’re fighting to make your business profitable, each dollar counts. Containing costs is important and finding the best value is a must. Recognizing this reality is one of the reasons we’ve been so successful in supporting small businesses as they navigate employee benefits.
Benefits fit for a Small Business
As a small business, your employees are your most valuable asset. You want to support them so they can be healthy and productive. You also want to use your benefits plan to help retain employees as well as attract stellar new talent to your team.
Accomplishing those goals for your benefits plan means offering many of the benefits that larger employers offer, but with some modifications. Your plan will need to provide comprehensive coverage, but it will also have to incorporate cost control mechanisms.
GroupHEALTH’s Smart Rx Solutions are a good example. Many of the Smart Rx Solutions utilize a central dispensing pharmacy in order to receive full coverage for prescription drugs. This is a way to provide great coverage and improve convenience, but also control costs.
Providing great benefits for a small business means providing access to support like disability management services and an Employee and Family Assistance Program. These types of support can also help contain costs over the long term.
Smart Plan for Small Business
To make it easy for a small business to launch its first-ever employee benefits plan, we created the Smart Plan for Small Business. The plan was created specifically for companies that have never sponsored an employee benefit plan before. It balances excellent coverage with cost containment.
The Smart Plan for Small Business offers comprehensive coverage for things like extended health, prescription drugs, dental, life insurance and accident and serious illness coverage. It’s configurable, so you don’t have to pay for coverages that you don’t need. Best of all, it provides cost transparency. As a small business, knowing exactly what the plan will cost can remove a lot of stress associated with sponsoring a plan.
Service and Support
We know that in many small businesses, employees “wear many hats” so we’re realistic in knowing that there likely won’t be someone in a role dedicated only to administering the benefits plan. As such, we’ve focused on finding ways of making it as easy as possible to sponsor and administer an employee benefits plan. Some of the ways we support small businesses include:
- Small Business Guide to Employee Benefits – The small business guide to employee benefits is like taking “Benefits 101.” It breaks down everything you need to know about employee benefits, different options that are available, the pros and cons of choices you must make, and everything else you need to know about benefits. It provides answers to many of the questions you may have but is afraid to ask.
- GroupHEALTH Benefit Hacks – Another guide related to employee benefits, Benefits Hacks focuses on practical advice around implementing and administering employee benefits. It’s a great resource even after your plan is in place and you’re learning to administer the plan.
- Customer service team – Small businesses have readily available support from our customer service team. The team can help answer questions, troubleshoot challenges and guide your Plan Administrator through the world of employee benefits.
- WEBSonline – Our purpose-built employee benefits administration platform allows small businesses to automate many of the day-to-day tasks usually performed by the Plan Administrator. It includes triggers and alarms to alert the Plan Administrator to items that need to be addressed, saving time and money for the small business.
Good Advice is Key
Are you a small business looking for an employee benefits provider that actually understands small businesses? Do you need straightforward info on employee benefits? Review your options with one of our licensed advisors on the phone, or contact us for a comparison quote.
Whether you’re looking for extended health and dental coverage, disability coverage, or life and critical illness coverage, GroupHEALTH has affordable benefits packages that work as hard as you do.