When it comes to health insurance, Canada operates much differently than the United States. Canada has a Medicare-for-all system that is universal and funded through the government. This means that patients are not required to pay any deductibles, and co-pays are rare if there required at all. Early diagnosis of medical conditions and precautionary action are valued very highly, and annual check-ups are strongly recommended. All of this helps to contribute to longer, better lives, all while lessening the price of health insurance.
All that said, sometimes people get small business health benefits through their employers. And with that in mind, half of all business owners in Canada worry about the prospect of providing supplemental health coverage for their workers. If you are among those business owners, you may want to consider getting small business group health insurance, possibly through health spending accounts or HSA plans.
For employers needing a money-saving approach that can also be beneficial for tax purposes, an HSA may be advantageous. Employees who receive coverage under an HSA can get treatments that may have otherwise been withheld under the typical health insurance plan.
If you have further questions, comments, or tips regarding small business group health insurance, be sure to share them in the forum below. More like this.
