Five Things You Should Know about the Chambers of Commerce Group Insurance Plan
Five Things You Should Know about the Chambers of Commerce Group Insurance Plan
Five Things You Should Know About the Chambers of Commerce Group Insurance Plan
By: Greg O’Brien, Owner, Hive Group Benefits
This post is Sponsored Content from Silver Partner Hive Group Benefits
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With the current trends of a labour shortage and increasing emphasis on employee benefits, finding ways to attract and retain the right people in your business is so important. One of the best options available to tackle this increasing pressure is offering a group insurance plan to protect your employees and their families. This is great for your employees, and there are benefits to your business. It’s a win-win! Keeping employees healthy and happy at work will increase productivity, and employer premiums contributed to pay for insurance plans are tax deductible.
And here’s the good news – as a member of the St. John’s Board of Trade, you have access to the #1 group insurance plan in the country, the Chambers Plan. The Chambers Plan was designed with small to medium sized businesses in mind, giving even sole proprietors a way to access a robust group insurance program at a reasonable rate.
Here are five features that make this plan stand out above the rest.
- Rate Stability: When your claims are bundled together with thousands of similar businesses, premiums stay manageable and predictable. Unlike most carriers, Chambers Plan uses a partial pooling concept on health and dental benefits. Therefore, small fluctuations in a business’ claims do not automatically factor into the rates, giving them greater rate stability over the long term.
- Not-for-Profit: The Chambers Plan operates under the direction of the not-for-profit Chambers of Commerce Insurance Corporation of Canada, which is led by volunteer directors who are also Chamber members. Keeping your interests front and center, ALL surpluses are reinvested in the Plan to help control premiums. That’s why 900 Chambers of Commerce and Boards of Trade across Canada actively endorse the Chambers Plan.
- Best in Class Telemedicine Services: Plan participants have free access to top medical specialists from around the world with Teladoc Medical Experts services. In addition, you can get a consultation appointment with a physician within a couple of hours. Avoid waiting hours on end at a walk-in clinic or weeks to see your family doctor (if you have one). Teladoc physicians can also prescribe right to your local pharmacy.
- Valuable Support Benefits: Every plan includes valuable supports for your company and your employees. Business Assistance Service provides owners professional accounting, counselling, legal, and human resource experts who understand the challenges businesses face. And my-benefits health®, our online wellness platform, is filled with resources and tools like health risk assessments to help your employees stay healthy and productive.
- Retiree Plan: For many people, retiring means leaving their health and dental coverage behind. While provincial plans cover some health care expenses, many day-to-day and emergency expenses will now be your responsibility. Our Retiree Plan for Owners, Executives, and Employees allow people aged 50 and over to easily transition their group plan coverage to an individual health and dental plan. These plan options are unrivalled in the insurance industry.
ABOUT HIVE GROUP BENEFITS:
Hive Group Benefits helps businesses and organizations of all sizes secure competitive group insurance and retirement plans. They are located right here in St. John’s. Click here to learn more.
St. John’s Board of Trade Members referred to the Plan will work directly with our local St. John’s representative, Greg O’Brien of Hive Group Benefits. Greg was recently recognized as a leading representative of Chambers of Commerce Group Insurance Plan® at the program’s national conference in Winnipeg, MB in September 2022. The top 100 Chambers Plan representatives from across the country were honoured at the event for experts who met stringent qualifying criteria.
ABOUT THE PLAN:
Nationally, the Chambers Plan provides employee benefits programs to more than 30,000 small and medium sized businesses, and 900 Chambers of Commerce and Boards of Trade endorse the program. The Plan was introduced over 50 years ago to make group benefits available to smaller firms. Today, the program offers competitive rates, outstanding guarantees, and many free, value-added features for participants. Chambers Plan is the largest employee benefits program of its kind in the country, providing tangible benefits to members of participating Chambers and Boards. From the National Service Centre, located in Winnipeg, Chambers Plan is administered by Johnston Group Inc., recognized as one of Canada’s Best Managed Companies every year since 2001.
