In Canada, approximately 98% of all companies are small businesses — that is, employers with anywhere from two to 100 employees. These small businesses provide the bulk of supplemental health insurance plans to Canadians in order to cover services that the publicly funded Medicare system of the country does not. Used together, these health benefits for small businesses are responsible for keeping Canadians healthy.

However, many employers may not be sure which type of plans they need. There are a variety of plans covering health benefits for small business, so it’s important to choose wisely when deciding on health insurance for employees. Here are a couple of different types of plans that small business owners may want to select from:

Group Benefits for Small Business
Group benefits are fairly straightforward in that they cover services as a traditional health insurance plan would. Small business employees would pay a premium from their paychecks, and they may have to pay a small co-pay for certain services. These plans cover specific services only, however, and they often limit spending on alternative or elective treatments, such as acupuncture or lap band surgery costs. These plans are good for families, too, because they can help with specialist visits for children, such as orthodontic costs. These plans tend to come with vision and dental coverage, too.

Health Spending Accounts
Health spending accounts are another type of plan available, and they are popular because they allow workers to determine how much they’d like to spend and how. These accounts take out 100% pre-taxed funds and put them into a spending account that employees can use to reimburse them for up to 100% out of pocket costs on health services. This is a good option for individuals and families, and they also help with just about any type of specialist visit. Health spending accounts also offer a tax advantage to both employees and employers, so this makes them a fairly common choice for supplemental insurance.

Have questions about health benefits for small business owners and their employees? Be sure to contact a health insurance company about your options. You can also leave a comment below if you have general inquiries. Check out this site for more.