Providing an Employer Sponsored Savings Plan such as an RRSP or Deferred Profit Sharing Plan improves employee attraction and retention. According to a 2022 survey by Maru Group Ltd. on behalf of the Healthcare of Ontario Pension Plan, 66% of Canadians would rather have a lower salary and a pension than a higher salary with […]
What is an Infectious Disease Emergency Leave?
Covid19 continues to pose questions for employers and HR leaders on how to manage employee leaves and absences related to the disease. In response to this new normal, Ontario made changes to the Employment Standards Act(ESA) to better address the impact on a business and its employees due to Covid19. The government introduced amendments to […]
Private virtual health care can support your team’s wellness
What is virtual health care? Virtual health care includes any option where the patient does not have to travel to a doctor’s office, clinic or hospital to receive medical treatment, advice or diagnosis. Some health care practitioners provide virtual care over the phone, while others use video chats or text messages to communicate with patients. […]
HealthCare Spending Accounts
Taking care of employees has been top of mind for many employers during Covid. Buisnesses have been left searching for ways to support their employees in maintaining their mental health and overall wellness during this unprecedented time. Do you find yourself asking how it is that you can support your staff during this period in […]
Has the Pandemic Created a Perfect Storm for an EAP?
We’ve seen EAP (Employee Assistance Program) usage jump more than 200% throughout the pandemic. In most years we expect the usage statistics for most plans to be about 8% of the workforce. During 2020, usage spiked for most plans to well over 20% and in many cases over 30%. While EAPs weren’t necessarily designed with […]
Super-charge your Benefit Package!
You may already have a Benefit Plan in place for your employees. Have you considered enhancing it by providing a Group Savings plan that encourages them to grow financially and plan for their future? Ready to super-charge how you motivate your team? Here are some key points to think about: 1. Saving and saying goodbye […]
UPDATED: Covid-19 Federal Government Assistance for Employers and Employees
UPDATED!!!! April 9th, 2020 If your business needs financial support: Canada Emergency Wage Subsidy: Designed to keep (or recall) employees on payroll, this program will subsidize a portion of your payroll cost. For employers that have suffered a 15% reduction in revenue due to Covid-19 in March 2020 and/or a 30% reduction in revenue for […]
Is your Group Benefits plan leaving you open to a large liability?
Written by: Alex Sernoskie Employee Benefits Analyst CAPCORP Financial Group Benefits plans can be a large financial commitment, they shouldn’t also leave you open to a large liability. If you have someone on your plan that isn’t eligible then you can be exposed to a heavy liability. The only people that are allowed to be […]
Is your child’s medication still covered?
If you have a child under the age of 25 and they have a prescription medication it was likely being covered by OHIP+. As of April 1, 2019, the OHIP+ program has changed. OHIP+ is designed to help those under the age of 25 receive their prescription medication for free and currently covers around 4,400 […]
Top 3 Points to Consider when Implementing an Employee Benefits Plan
Employee Benefits Analyst at CAPCORP Written by: Alex Sernoskie An employee benefits plan is an expense that can cost you thousands of dollars a year. So before you make any decisions on a benefits program here a few things to consider: Know why you’re putting in a benefits plan. An employee benefits plan should be […]