We’ve all seen taglines like “employees want benefits, not pizza parties.” But for many Alberta-based small and medium-sized businesses, being able to offer employee benefits doesn’t always seem possible.
We’re here to help. Our new group plan gives businesses with 2 to 50 employees another option. The Employee Choice™ plan provides more predictable and affordable costs for employers while offering employees the ultimate level of flexibility and choice.
Employees get benefits and a pizza party, too
Unlike traditional plans, Employee Choice™ provides fewer fluctuations in pricing and no surprising rate increases at renewal time.
A traditional benefit plan’s pricing is based on claiming activity. “This means there are more fluctuations in pricing each year when it’s time to renew,” explains Alberta Blue Cross’s® vice-president of Group, Jerry Rudelic. “Small businesses can be more susceptible to unexpected increases if they have high claiming activity. This can make a benefit plan seem unaffordable for businesses who don’t have any wiggle room in their budget.”
One Health Spending Account to rule them all
A Health Spending Account is an individual employee account that provides reimbursement for eligible health care expenses or other benefits not covered under provincial health insurance plans. Because a Health Spending Account is the core benefit of the Employee Choice™ plan, employers can choose how many credits to allocate to their employees’ spending accounts each year, which gives employers better control of their budget.
With Employee Choice™, employees are empowered to make decisions themselves based on their health and wellness needs—letting them choose how they spend their allocated credits each year. For example, if an employee needs to dedicate more funds to prescription drugs one year and dental the next, they have the flexibility to do so.
Flexibility, freedom and a flourishing workforce
Offering greater choice and flexibility can give employers a competitive advantage over employers who don’t. And a happier, healthier and more engaged workforce leads to greater business growth and success.
“This plan really puts employees in the driver’s seat,” says Jerry. “For example, a young employee may not need coverage for many benefits that are components of traditional plans, such as a wheelchair, a knee brace and hearing aids. But what they might want instead is to use their credits for massage, dental and mental health coverage.”
Here’s how it works
We don’t want businesses to have to choose between keeping the lights on and offering a benefit plan. Designed with small businesses, entrepreneurs and start-ups in mind—the Employee Choice™ plan is ideal for businesses with 2 to 50 employees.
Employers start with a Health Spending Account and access to our online wellness program, Balance® and can then choose the add-ons that are right for their business and employees including
- a Wellness Spending Account,
- peace of mind coverage: a bundled package that protects employees from unforeseen catastrophic events,
- virtual care, and
- Life and Disability insurance options.
And everything can be done completely online—from getting a quote to purchasing the plan to employees enrolling in the plan.
Options, options, options
While we try to do everything we can to maximize plan sustainability and affordability for all our benefit plans, there are some companies that want to know exactly how much they’ll be spending. This is where the Employee Choice™ plan comes in—employers can decide how much they’re going to spend each year.
