Why Do Companies Provide Benefits to Employees?

Group health benefits

In Canada, the health care system is laid out in the provisions of the Canada Health Act of 1984. In short, Canada has a publicly funded medicare system, with the majority of services provided by the private sector. Because of public funding for health care, many employee benefits solutions do not contain health care plans, because to do so would be redundant.

The provincially based Medicare systems in Canada are very cost effective, because their administrative simplicity lays out exactly what to do. Interestingly, about three quarters of Canadians have at least some sort of supplementary private health insurance, although many of them do receive it through their employers.

With that said, one of the best benefits for employees is to offer employee benefit plans that have perks like supplementary health insurance, dental insurance, retirement accounts, and a bevy of other things as well. Some supplementary health plans cover things such as surgery and other services like psychotherapy. Some employee benefits solutions also cover costs incurred at clinics and doctors’ offices as well as dental surgery at dental offices and even cover the costs of laboratory tests.

At the end of the day, many companies wish they could provide expansive solutions to their employees as part of benefits plans, but the cost of doing so is sometimes too high. Fortunately, in Canada, people are better taken care of through health care plans than Americans are, because of the differences in health care legislation. Nevertheless, an employee benefits plan in either country can generally entice an employee to either come to, or stay with, a particular company. Find out more here: www.cehbp.com

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