Traditional Health and Dental Plans

Traditional health and dental plans are employer-sponsored benefits that provide employees and their dependents with coverage for a range of medical and dental expenses. These plans are typically offered through group insurance policies purchased by employers and are regulated in accordance with provincial and federal laws. Key features include:

• Employer‑sponsored and purchased from private insurers to supplement public provincial healthcare
• As the employer, you can deduct health and dental insurance premiums from your taxable income
• Health coverage can include coverage for prescription drugs, paramedical services (physio, chiro, massage, mental health), medical equipment, prescription eyewear, etc.
• Dental coverage typically covers routine care (cleanings, X‑rays) and procedures (fillings, crowns, root canals, dentures, orthodontics) with set annual limits
• Plans usually involve cost‑sharing to help balance costs for employers and employees
• Employers can tailor plans based on budget and specific coverage maximums

Self-funded Benefit Plans

ASO (administrative services only) benefit plans mean the employer self-funds employee health/dental benefits while a insurer or third‑party administrator (TPA) handles plan administration and claims adjudication. The employer bears the claims cost; the vendor provides administrative services only.

• Who pays: employer pays actual claims; vendor charges a PEPM admin fee.
• Risk control: optional specific and aggregate stop‑loss policies to cap big or total losses.
• The employer can deduct claims and expenses from taxable income
• Pros: lower insurer loading on ‘rates’ included on traditional insured plans, flexible plan design, better claims data and control
• Cons: financial volatility and cash‑flow/reserve requirements

Best for: medium/large employers with predictable headcount and resources to manage risk

Flex Plans for any Company Size

Flexible benefit plans in Canada (aka modular flex plans, cafeteria plans or choice plans) lets employers customize their benefit plan to provide employees with a fixed benefit budget or menu of options so each person can pick the mix of benefits that best fits their needs.

• Can be fully insured or ASO, with the same tax advantages mentioned
• Structure:
  • Core + Flex: basic core benefits for everyone, plus a credit/allowance to choose extra options
  • Points/credits: employees use points to “buy” benefits from a catalogue.
  • Health Care Spending Account (HCSA/HSA) are also great flexibility options: an employer-funded account that reimburses eligible health/dental expenses

Voluntary Benefits

These benefits are optional, employee-paid and offered through the employer at group rates; employees choose and pay via payroll deduction.

Common types of voluntary benefits include life and dependent life, accidental death & dismemberment (AD&D), critical illness, buy‑ups to disability, top‑up health/dental, vision, hospital cash, pet insurance, legal/ID protection, voluntary long‑term care.

Note: group life insurance, AD&D, dependent life, critical illness, short- and long-term disability can also be included as core benefits in any benefits plan, should the employer want to include

Registered Pension Plan (RPP)

A Registered Pension Plan (RPP) is an employer-sponsored program that helps employees turn their hard work today into financial security tomorrow. Contributions from employers and employees grow tax-deferred over time, creating a dependable source of income in retirement. In Canada, RPPs are carefully regulated to protect members, giving employees confidence that their future is supported and their retirement goals are within reach. At GBL, we make it easier for plan sponsors by providing end-to-end support (from compliance and administration to member education and investment guidance) so they can focus on their people while we take care of the details.

Registered Retirement Savings Plan (RRSP)

A Group RRSP (Registered Retirement Savings Plan) is an employer-sponsored savings plan that helps employees build retirement savings through convenient payroll deductions. Contributions are tax-deductible, grow tax-deferred, and employers can choose to match contributions to encourage participation. Group RRSPs are simple to set up, easy to administer, and provide employees with an accessible way to save for their future while giving employers a valuable tool to attract and retain talent. GBL is here to assist you every step of the way, including compliance, administration, and member education.

Deferred Profit Sharing Plan (DPSP)

A Group Deferred Profit Sharing Plan (DPSP) is an employer-sponsored savings plan that allows companies to share business profits with their employees by making tax-deferred contributions to their retirement savings. Only the employer contributes, and funds grow tax-deferred until they are withdrawn in retirement, making it a cost-effective way for businesses to reward and retain talent. DPSPs are flexible, easy to administer, and provide employees with an additional path to build long-term financial security. GBL is here to assist you every step of the way, including compliance, administration, and member education.

Tax Free Savings Account (TFSA)

A Group Tax-Free Savings Account (TFSA) is an employer-sponsored savings program that allows employees to save and invest money without paying tax on the growth or withdrawals. Unlike retirement plans, funds in a TFSA can be accessed at any time, making it a flexible tool for both short-term goals and long-term savings. For employers, offering a Group TFSA is a simple and cost-effective way to support employee financial wellness and enhance their overall compensation package. At GBL, we support plan sponsors every step of the way with compliance, administration, and member education to ensure their programs deliver maximum value.

Defined Benefit Pension (DB)

Many corporations provide their employees’ retirement benefits through a defined benefit pension plan. GBL can provide plan sponsors with a wide range of the necessary actuarial services with respect to these DB pension plans, including:

• Funding and Solvency actuarial valuations

• Accounting valuations for DB pension plans and other post-retirement benefit programs

• DB pension plan design including integration with DC or supplemental/executive plans

• Administration of DB pension and supplemental pension plans

• Custom solutions to suit your organization’s unique concerns

Supplemental Executive Retirement Plan (SERP)

A Supplemental Executive Retirement Plan (SERP) is a non-registered retirement plan designed to provide additional retirement income for high-earning executives. SERPs are ideal for:

• Senior executives or key employees of companies of any size whose income exceeds the thresholds of registered plans.
• Organizations of any size looking to attract, retain, and reward top-tier talent

Retirement Compensation Arrangement (RCA)

Ideal for high-income earners ($150,000+) such as business owners, athletes, executives, and incorporated professionals who wish to sustain their standard of living into retirement, a Retirement Compensation Arrangement (RCA) represents the highest level of retirement program available in Canada.

• Lowers participant’s tax rate

• Flexible

• Creditor-proof

• Taxed only at time of withdrawal

Individual Pension Plan (IPP)

An Individual Pension Plan (IPP) is a defined benefit pension plan that allows you to increase your tax deferred retirement savings and establish long-term financial security.

• Increase your retirement assets

• Make large tax deductible contributions

• Go beyond the traditional RRSP

• 100% creditor-proof

Executive Benefits

Tailored corporate insurance strategies that can include compensation and benefit arrangements for senior leaders designed to attract, retain and reward key executives beyond standard employee programs.

• Supplemental executive retirement plans (SERPs) / non‑registered pension top‑ups
• Deferred compensation plans (unregistered, payable at a future date)
• Executive life insurance (including split‑dollar or corporate‑owned policies) and key‑person life/AD&D
• Enhanced disability and health benefits (higher limits, extended coverage)

Individual and Group Disability Top-up

As an individual, your greatest asset is your ability to earn income. We help tailor coverage to specific individuals and groups to maximize desired outcomes.

• Group disability top-up
• Combination individual and group disability solutions
• Enhanced coverage wordings like own occupation, cost of living adjustments, return of premium, etc.
• Professional designation specific coverage

Specialized coverage for lawyers, athletes, physicians, business owners, etc.

Employee and Family Assistance Plans

Employee Assistance Programs (EAPs) provide short‑term, confidential counselling and other support services to employees and their household members.

• Core services: mental‑health counselling, crisis/critical‑incident support, substance‑use help, stress and relationship issues
• Extras: legal/financial advice, work‑life referrals, digital resources, women’s/family health and wellness seminars

Expat and Cross Border Benefits

Coverage for employees permanently or temporarily posted out of Canada. Designed for long-term international assignments and usually include global medical (inpatient/outpatient), evacuation and repatriation, local medical plan/top‑up, dental, vision, prescription, mental‑health, life/AD&D, disability/top‑ups, relocation and dependent support (schooling, housing allowances), and 24/7 assistance.

Special Risk, Accident and Illness

Coverage for special events or travel.  Tailored coverage to protect participants, spectators, volunteers, teachers, etc.

• Defined coverage periods or annual policies
• Enhanced wordings on travel medical

Expert Medical Access

Sometimes, provincial healthcare cannot meet the needs of an individual.  Items like delays for specialist visits, diagnostic imaging and non‑urgent surgeries can sometimes be covered or expedited through insured programs.

• Expedited access to diagnostic services and testing, MRI, CT Scan, etc.
• Expedited and home services for Labs
• Concierge services for health conditions including diagnostic recommended surgery and assistance with expediting wait times for MRI and equivalent services

Are you a business owner or HR professional interested in learning more about our services? Connect with the experts at GBL Human today to discover how we can support you and your organization.

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