{"id":481,"date":"2017-10-26T10:41:29","date_gmt":"2017-10-26T18:41:29","guid":{"rendered":"https:\/\/spring.is\/old\/?p=481"},"modified":"2019-06-21T09:57:09","modified_gmt":"2019-06-21T16:57:09","slug":"startup-founders-group-benefits","status":"publish","type":"post","link":"https:\/\/spring.is\/old\/partners\/startup-founders-group-benefits\/","title":{"rendered":"Why Startup Founders Should Provide Group Benefits"},"content":{"rendered":"<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"9am9k-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"9am9k-0-0\"><span data-offset-key=\"6lu9l-0-0\">Having the double whammy of group insurance and a pension plan together <\/span><span data-offset-key=\"6lu9l-0-0\">can help retain top talent at your company.\u00a0<\/span><\/div>\n<p data-offset-key=\"9am9k-0-0\">\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"2u39c-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"2u39c-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"a93im-0-0\">The biggest case in favor of providing a group benefits program is employee retention<\/span><\/span><span data-offset-key=\"a93im-1-0\">.\u00a0<\/span><\/div>\n<p data-offset-key=\"2u39c-0-0\">\n<\/div>\n<h2 data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"4ppma-0-0\"><span data-offset-key=\"qme7-0-0\">The Case for Group Benefits\u00a0<\/span><\/h2>\n<div data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"qme7-0-0\"><\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"qme7-0-0\">For anyone that might consider pursuing entrepreneurship, their first concern is often the loss of their group benefits plans. This is especially true for those with families!<\/div>\n<p data-offset-key=\"1v87a-0-0\">\n<div data-offset-key=\"1v87a-0-0\">\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"c3qj9-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"c3qj9-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"c3qj9-0-0\">Working for a large company in the world can be enticing because of the lucrative benefit packages offered<\/span><\/span><span data-offset-key=\"c3qj9-1-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"c3qj9-2-0\">Offering your employees something like a health &amp; dental plan, with a variety of paramedical options such as chiropractor appointments, and vision care can go along way in keeping your employees feeling happy and taken care of<\/span><\/span><span data-offset-key=\"c3qj9-3-0\">.\u00a0<\/span><span class=\"veryhardreadability\"><span data-offset-key=\"a7kka-0-0\">To go along with that group insurance program, many companies offer a group RRSP or Pension that the employees can contribute to; usually with the employer matching a <\/span><\/span><span class=\"complexword\"><span data-offset-key=\"a7kka-1-0\">portion<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"a7kka-2-0\"> of their contributions<\/span><\/span><span data-offset-key=\"a7kka-3-0\">.<\/span><\/div>\n<p data-offset-key=\"c3qj9-0-0\">\n<\/div>\n<\/div>\n<div data-offset-key=\"c3qj9-0-0\">\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"6lu9l-0-0\">\n<blockquote>\n<div data-offset-key=\"6lu9l-0-0\">As a startup founder, you may not have access to such comprehensive benefits plans. So how can a growing entrepreneur support their employees and retain talent?<\/div>\n<\/blockquote>\n<\/div>\n<p data-offset-key=\"6lu9l-0-0\">\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"7edcj-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"7edcj-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"7edcj-0-0\">Luckily, the Health &amp; Welfare Trust can be a viable option for a new startup with a small pool of employees<\/span><\/span><span data-offset-key=\"7edcj-1-0\">. <\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"6d2ha-0-0\">\n<div data-offset-key=\"6d2ha-0-0\"><\/div>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"6d2ha-0-0\"><span data-offset-key=\"6d2ha-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"crvdu-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"crvdu-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"crvdu-0-0\">Even if you are a solo-preneur, (as most group plans <\/span><\/span><span class=\"complexword\"><span data-offset-key=\"crvdu-1-0\">require<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"crvdu-2-0\"> at least of 2 other employees), the Health &amp; Welfare Trust can help provide some tax relief for the medical\/ dental expenses of that new business<\/span><\/span><span data-offset-key=\"crvdu-3-0\">.<\/span><span data-offset-key=\"u4f-0-0\">\u00a0<\/span><span class=\"hardreadability\"><span data-offset-key=\"9ge95-0-0\">Though fear can have a big influence on your decisions, so can the feeling of <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"9ge95-1-0\">being appreciated<\/span><\/span><span class=\"hardreadability\"><span data-offset-key=\"9ge95-2-0\"> and well taken care of<\/span><\/span><span data-offset-key=\"9ge95-3-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"9ge95-4-0\">This should be the biggest motivator, because keeping your employees happy should bring greater productivity for your business and less turnover of employees<\/span><\/span><span data-offset-key=\"9ge95-5-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"e6p86-0-0\">\n<div data-offset-key=\"e6p86-0-0\"><\/div>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"e6p86-0-0\"><span data-offset-key=\"e6p86-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"c0oo2-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"c0oo2-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"c0oo2-0-0\">A big dental bill, laser eye surgery, or braces for kids can be a big expense to find the money for, even when it&#8217;s <\/span><\/span><span class=\"adverb\"><span data-offset-key=\"c0oo2-1-0\">partially<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"c0oo2-2-0\"> covered by 80% co-insurance under a group insurance plan<\/span><\/span><span data-offset-key=\"c0oo2-3-0\">. It&#8217;s even worse when the employer does not pick up the cost, and you have to pay for it <\/span><span class=\"adverb\"><span data-offset-key=\"c0oo2-4-0\">personally<\/span><\/span><span data-offset-key=\"c0oo2-5-0\"> with after-tax dollars. <\/span><span class=\"hardreadability\"><span data-offset-key=\"c0oo2-6-0\">If paid <\/span><\/span><span class=\"adverb\"><span data-offset-key=\"c0oo2-7-0\">personally<\/span><\/span><span class=\"hardreadability\"><span data-offset-key=\"c0oo2-8-0\"> only a small percentage (18%) <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"c0oo2-9-0\">is reimbursed<\/span><\/span><span class=\"hardreadability\"><span data-offset-key=\"c0oo2-10-0\"> under the Medical Expense Tax Credit after the deductible <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"c0oo2-11-0\">is met<\/span><\/span><span data-offset-key=\"c0oo2-12-0\">. A 3% of net annual income <\/span><span class=\"passivevoice\"><span data-offset-key=\"c0oo2-13-0\">is used<\/span><\/span><span data-offset-key=\"c0oo2-14-0\"> as far as yearly deductibles for the METC. <\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"cd72b-0-0\">\n<div data-offset-key=\"cd72b-0-0\"><\/div>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"cd72b-0-0\"><span data-offset-key=\"cd72b-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"diccc-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"diccc-0-0\"><span data-offset-key=\"diccc-0-0\">For many, finding the money to get dental work done can be difficult. Having the company absorb these costs can mean the difference of getting any work done at all. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"diccc-1-0\">The company can also make the premiums for a group insurance program tax deductible, or in the health &amp; welfare trust case, make the medical or dental expense a tax-deductible business expense<\/span><\/span><span data-offset-key=\"diccc-2-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"3ou1f-0-0\">\n<div data-offset-key=\"3ou1f-0-0\"><\/div>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3ou1f-0-0\"><span data-offset-key=\"3ou1f-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<h2 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"bbr0l-0-0\"><span data-offset-key=\"bbr0l-0-0\">Why Don&#8217;t More Companies Provide Group Benefits?<\/span><\/h2>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"9glu1-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"9glu1-0-0\"><span data-offset-key=\"9glu1-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"3qs4s-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3qs4s-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"3qs4s-0-0\">Some of the main issues that may dissuade a company from going down the road to providing group benefits <\/span><\/span><span class=\"adverb\"><span data-offset-key=\"3qs4s-1-0\">mainly<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"3qs4s-2-0\"> depend on the size of the company, I&#8217;ll list off some of the main reasons I&#8217;ve encountered:<\/span><\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"5mi6l-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"5mi6l-0-0\"><span data-offset-key=\"5mi6l-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"a9vjh-0-0\">\n<h4 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"a9vjh-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"a9vjh-0-0\"><strong>Cost<\/strong><\/span><\/span><\/h4>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"a9vjh-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"a9vjh-0-0\">simple enough, some companies might believe the value they are getting in return <\/span><\/span><span class=\"qualifier\"><span data-offset-key=\"a9vjh-1-0\">just<\/span><\/span><span class=\"hardreadability\"><span data-offset-key=\"a9vjh-2-0\"> isn&#8217;t worth what they have to pay<\/span><\/span><span data-offset-key=\"a9vjh-3-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"a9vjh-4-0\">Insurance companies aren&#8217;t exactly fighting over each other to win the small business group insurance marketplace either<\/span><\/span><span data-offset-key=\"a9vjh-5-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"a9vjh-6-0\">Depending on the age and occupation of your employees the premium you can <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"a9vjh-7-0\">be charged<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"a9vjh-8-0\"> might deter from implementing the program, or taking the renewal if you had a bad claim year the previous year<\/span><\/span><span data-offset-key=\"a9vjh-9-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"7fas8-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"7fas8-0-0\"><span data-offset-key=\"7fas8-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"d2s8t-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"d2s8t-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"d2s8t-0-0\">If you go the Health &amp; Welfare Trust route the cost is straightforward with the setup fee and admin fee per claim, so there are no unexpected surprises<\/span><\/span><span data-offset-key=\"d2s8t-1-0\">. There is no discrimination based on age, sex or occupation either. Every company has the same costs.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"ectc9-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"ectc9-0-0\"><span data-offset-key=\"ectc9-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"c6m31-0-0\">\n<h4 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"c6m31-0-0\"><span class=\"hardreadability\"><strong>Not Incorporated<\/strong><\/span><\/h4>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"c6m31-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"c6m31-0-1\">If you are a sole proprietorship or partnership, there is a very small pool of options out there for you<\/span><\/span><span data-offset-key=\"c6m31-1-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"c6m31-2-0\">If there is an option, such as the Health &amp; Welfare Trust, then what&#8217;s covered such as the <\/span><\/span><span class=\"complexword\"><span data-offset-key=\"c6m31-3-0\">maximum<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"c6m31-4-0\"> amount of claims <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"c6m31-5-0\">is limited<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"c6m31-6-0\"> compared to what is available to incorporated companies of the same size<\/span><\/span><span data-offset-key=\"c6m31-7-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"ff2vb-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"ff2vb-0-0\"><span data-offset-key=\"ff2vb-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"46io7-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"46io7-0-0\"><em>The solution, time to get Incorporated&#8230; <span class=\"hardreadability\">in all seriousness most group insurance programs make the most tax, cost, and benefit sense when you <\/span><span class=\"passivevoice\">are incorporated<\/span>.<\/em><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"8fmfa-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"8fmfa-0-0\"><span data-offset-key=\"8fmfa-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"4p0m5-0-0\">\n<h4 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"4p0m5-0-0\"><span class=\"veryhardreadability\"><strong>Lack of Income<\/strong><\/span><\/h4>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"4p0m5-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"4p0m5-0-1\">Having your premiums or expenses tax deductible for your business is an attractive reason why you might provide a group benefits program, but if you have no active income then there is no revenue that you can deduct for tax purposes<\/span><\/span><span data-offset-key=\"4p0m5-1-0\">. <\/span><span class=\"hardreadability\"><span data-offset-key=\"4p0m5-2-0\">Seems simple enough of a concept, but for many startups still in the pre-launch phase of their company, it can be a major detriment<\/span><\/span><span data-offset-key=\"4p0m5-3-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"44jlv-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"44jlv-0-0\"><span data-offset-key=\"44jlv-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"6tlje-0-0\">\n<h4 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"6tlje-0-0\"><span class=\"veryhardreadability\"><strong>Perceived Complexity<\/strong><\/span><\/h4>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"6tlje-0-0\">An overabundance<span class=\"veryhardreadability\"><span data-offset-key=\"6tlje-2-0\"> of information in the marketplace and for each program available can seem overwhelming to some<\/span><\/span><span data-offset-key=\"6tlje-3-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"6tlje-4-0\">Most people understand the basics of a traditional plan with co-insurance, deductibles, and premiums. But, for something like the Health &amp; Welfare Trust, the word trust alone can get people hung up<\/span><\/span><span data-offset-key=\"6tlje-5-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"6tlje-6-0\">Many proposals can seem confusing when their 10 pages plus and you&#8217;re not exactly sure what <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"6tlje-7-0\">is covered<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"6tlje-8-0\"> under a group insurance program after deductibles, premiums and coinsurance <\/span><\/span><span class=\"passivevoice\"><span data-offset-key=\"6tlje-9-0\">is paid<\/span><\/span><span data-offset-key=\"6tlje-10-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"8kggd-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"8kggd-0-0\"><span data-offset-key=\"8kggd-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"da2ji-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"da2ji-0-0\"><em>I apologize in advance for the amount of paperwork you will have to read through. I promise though, the concept at its core is a simple one. <span class=\"hardreadability\">Working with a broker with experience in the group insurance marketplace can go a long way in simplifying some of these concepts for you<\/span>.<\/em><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"35jhe-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"35jhe-0-0\"><strong>\u00a0<\/strong><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"d0rko-0-0\">\n<h4 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"d0rko-0-0\"><b>Lack of Coverage<\/b><\/h4>\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"d0rko-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"d0rko-0-1\">depending on the industry you are in, you might not be insurable under a traditional group benefits program<\/span><\/span><span data-offset-key=\"d0rko-1-0\">. <\/span><span class=\"adverb\"><span data-offset-key=\"d0rko-2-0\">Specifically<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"d0rko-3-0\">, Short Term &amp; Long Term Disability is most <\/span><\/span><span class=\"adverb\"><span data-offset-key=\"d0rko-4-0\">commonly<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"d0rko-5-0\"> not offered to a large <\/span><\/span><span class=\"complexword\"><span data-offset-key=\"d0rko-6-0\">portion<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"d0rko-7-0\"> of occupations &amp; industries as part of most plans<\/span><\/span><span data-offset-key=\"d0rko-8-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"d0rko-9-0\">There are sometimes underwriting requirements for certain benefits depending on the plan, which some employees may not qualify for because of health reasons<\/span><\/span><span data-offset-key=\"d0rko-10-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"cshab-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"cshab-0-0\"><span data-offset-key=\"cshab-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"apqia-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"apqia-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"apqia-0-0\">If you are not looking for disability or life insurance as part of your group insurance program then the health &amp; welfare trust is a viable alternative<\/span><\/span><span data-offset-key=\"apqia-1-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"apqia-2-0\">There is no health underwriting to qualify, and many more industries and occupations qualify that wouldn&#8217;t under a traditional plan<\/span><\/span><span data-offset-key=\"apqia-3-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"2gnt5-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"2gnt5-0-0\"><span data-offset-key=\"2gnt5-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<h2 class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"5okfc-0-0\"><span data-offset-key=\"5okfc-0-0\">In Summary<\/span><\/h2>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"1tvm2-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"1tvm2-0-0\"><span class=\"veryhardreadability\"><span data-offset-key=\"5c3s-0-0\">If you are currently entertaining the idea of a group benefits program for you and your employees then please speak with a broker like myself who can guide you through the options available<\/span><\/span><span data-offset-key=\"5c3s-1-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"5c3s-2-0\">There are attractive benefits of implementing a program for your company which include: coverage for shareholders\/ employees and their families, tax-deductible premiums (or in the H&amp;W Trust case, medical&amp;dental expenses), increased employee retention and happiness, having the insurance company pick up the cost of your medical &amp; dental expenses instead of paying for them <\/span><\/span><span class=\"adverb\"><span data-offset-key=\"5c3s-3-0\">personally<\/span><\/span><span class=\"veryhardreadability\"><span data-offset-key=\"5c3s-4-0\">, and attracting new high-quality employees<\/span><\/span><span data-offset-key=\"5c3s-5-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"1akvr-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"1akvr-0-0\"><span data-offset-key=\"1akvr-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"4klj1-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"4klj1-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"4klj1-0-0\">If lack of insurance coverage is holding you back from finally making that dentist appointment then please reach out and have a chat with me<\/span><\/span><span data-offset-key=\"4klj1-1-0\">. We intend to write more articles for Spring in the future, so keep an eye out for future posts.<\/span><\/div>\n<\/div>\n<div data-offset-key=\"4klj1-0-0\"><\/div>\n<div data-offset-key=\"4klj1-0-0\">\n<hr \/>\n<\/div>\n<h4 data-offset-key=\"4klj1-0-0\">About Karl Jung Financial Services Ltd.<\/h4>\n<div data-offset-key=\"1sldo-0-0\">\n Adam Jung and Karl Jung\n<div data-offset-key=\"1sldo-0-0\"><\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"1sldo-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"1sldo-0-0\"><span data-offset-key=\"1sldo-0-0\">Karl Jung Financial Services Ltd. is a family owned and operated financial services company. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"1sldo-1-0\">As independent brokers, we help families and small businesses find the most appropriate life and disability insurance solutions, along with group benefits packages and pension fund management<\/span><\/span><span data-offset-key=\"1sldo-2-0\">. <\/span><span class=\"veryhardreadability\"><span data-offset-key=\"1sldo-3-0\">We broker with 9 of the largest insurance companies in Canada, and have a combined 40 years of experience in the insurance &amp; financial services industry<\/span><\/span><span data-offset-key=\"1sldo-4-0\">.<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"aj7hs-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"aj7hs-0-0\"><span data-offset-key=\"aj7hs-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"2ljdp-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"2ljdp-0-0\"><strong>Other key areas we can assist you with:<\/strong><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"3va08-0-0\">\n<ul>\n<li class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3va08-0-0\"><span class=\"hardreadability\"><span data-offset-key=\"3va08-0-0\">What would happen to my business if either myself or my business partner were to <\/span><\/span><span class=\"complexword\"><span data-offset-key=\"3va08-1-0\">pass away<\/span><\/span> <span class=\"adverb\"><span data-offset-key=\"3va08-3-0\">prematurely<\/span><\/span><span data-offset-key=\"3va08-4-0\">?<\/span><\/li>\n<li class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3va08-0-0\">What would happen if a key employee were to <span class=\"complexword\"><span data-offset-key=\"3u2jl-1-0\">pass away<\/span><\/span> <span class=\"adverb\"><span data-offset-key=\"3u2jl-3-0\">prematurely<\/span><\/span><span data-offset-key=\"3u2jl-4-0\"> or become disabled?<\/span><\/li>\n<li class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3va08-0-0\">How do I protect my income and business if I <span class=\"passivevoice\"><span data-offset-key=\"avtr1-1-0\">were disabled<\/span><\/span><span data-offset-key=\"avtr1-2-0\"> or developed a serious illness?<\/span><\/li>\n<li class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3va08-0-0\"><span data-offset-key=\"ehvgh-0-0\">What type of benefit packages are available to my employees and how can I provide them with an adequate retirement<\/span><span data-offset-key=\"ehvgh-1-0\">?<\/span><\/li>\n<li class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"3va08-0-0\">How do I get money out of my company in the most tax-efficient manner and how do I fund my retirement?<\/li>\n<\/ul>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"80rls-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"80rls-0-0\"><span data-offset-key=\"80rls-0-0\">\u00a0<\/span><\/div>\n<\/div>\n<div class=\"\" data-block=\"true\" data-editor=\"2u471\" data-offset-key=\"b870i-0-0\">\n<div class=\"public-DraftStyleDefault-block public-DraftStyleDefault-ltr\" data-offset-key=\"b870i-0-0\"><span data-offset-key=\"b870i-0-0\">Written by Adam Jung<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Having the double whammy of group insurance and a pension plan together can help retain top talent at your company.\u00a0 The biggest case in favor of providing a group benefits program is employee retention.\u00a0 The Case for Group Benefits\u00a0 For anyone that might consider pursuing entrepreneurship, their first concern is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - 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