What Are Health Benefit Plans?

Group health insurance rates

In a survey of Canadian small businesses, around a third of businesses surveyed said they didn’t know how benefit plans would help their business. Essentially, benefits for employees can increase productivity, as employees who know they have health insurance and other benefits hypothetically work harder to keep those benefits.

By and large, around 30 percent of Canadian health expenditures come from private sources, both insurance and out of pocket payments. In addition, under the current Canadian health care system, preventative care and early detection are considered important, and yearly checkups are encouraged. Early detection even extends life expectancy and quality of life and even reduces overall costs.

The Canada Health Transfer is the Canadian government’s transfer payment program in support of the health systems of the provinces and territories of Canada. It affects businesses, as it can link businesses with health care providers and health plans, and even provide the money necessary for some health plans. Obviously, in a business there are benefits for employees. There are even benefits of employee training, like being eligible to receive health benefits.

At the end of the day, a company that provides for its employees is far more appealing to work for than a company that does not. A company that makes workers want to reap the benefits of employee training is going to get more applications and might even get higher quality workers than companies that do not.
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One Response to What Are Health Benefit Plans?

  1. Darrel Fox says:

    Even though I have a pretty good position in a top company, I still provide my own health insurance. I like to be able to provide it myself, and all through my life I have felt a need to take care of myself no matter what.

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