What is Benecaid and What Can It Do For Me?

Providing employees with access to reasonable health care options isn’t always easy. As an employer, you need a solution that’s effective, affordable, and fills in the gaps left by national health plans. How can you as a small to mid-size business owner, find the right health care partner? The answer is Benecaid.

Benecaid’s History

Established in 2000, Benecaid began with a concept that most insurance providers hate. By treating all business partners as a collective or group, it would be possible to provide a wider range of plans for lower rates. By essentially bundling the purchasing power of all clients, the result would enable smaller business owners to provide benefits normally offered through larger companies.

Based on that concept, Benecaid launched with a modest but effective roster of health care plans. Since then, the company has expanded their plans while still seeking to find the right balance between price and the scope of coverage. Their efforts have made Benecaid one of the fastest growing providers in Canada.

Designed for simplicity, affordability and flexibility, Benecaid is the partner of choice for a number of small and medium-sized businesses throughout the nation. With over 150,000 Canadians receiving in excess of $90 million in coverage, it’s obvious that Benecaid’s vision is now a reality. Best of all, the range of plans offered continues to increase.

Benecaid’s Health Plan Offerings

Benecaid understands that different types of businesses and organizations have different needs. That’s one of the driving forces behind their plan offerings. Here are some examples of plans that may be right for your operation:

beneGUARD: Perhaps you’re an independent contractor. Maybe you work as a consultant. You may even be the sole proprietor of a small business or operate a smaller non-profit organization. If so beneGUARD is a plan you want to consider.

Available in all provinces other than Quebec, beneGUARD offers coverage via a Health Spending Account (HSA) that helps to manage costs for expected and unexpected medical needs. That includes some types of dental procedures, vision care, dermatology, and semi-private rooms during a hospital stay.

flexFIT: Designed specifically for small and mid-sized businesses, this plan locks in 15-month rate guarantees and budgets to establish premium rate. To qualify, your business must have a minimum of three employees. Truly a flexible plan, you get to pick and choose the scope of coverage types. They include health insurance, vision and dental care, and life insurance. Accidental death or disability benefits can also be included in your flexible package.

flexSTYLE: Also designed for small and medium-sized business, this plan is one of the newer offerings. It focuses primarily on customization that allows your employees grater control over the scope of coverage. That includes choosing a deductible level and remitting a fixed amount monthly. Set up on an annual cycle, all unused deposits returned at the end of the term. Think of it as a contingency fund that can be drawn upon to help with covered medical events if something does happen.

There’s more to learn about Benecaid and its extended benefits and what they can help you offer your employees. Why not speak with an account manager today? You could be on the way to providing benefits that motivate your best employees to stay for a long time.

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