Whether your company is looking to start or improve your benefits plan, or you are looking to reduce costs, we can help. Our friendly, knowledgeable staff specializes in group insurance. We have the expertise needed to make informed decisions about your group insurance plan. If you've ever been frustrated by an unpaid claim or feel like your insurance contract is written in another language, we can help solve your insurance problems, explain how group insurance really works, and most importantly, make your life easier, safer and ensure you and your employees are properly protected. Learn more about group insurance and employee benefits >
We also provide Personal Insurance, Savings, and Financial Planning to the employees of our group clients and the public at large, not only in Victoria but across BC and Alberta. We provide Life Insurance, Disability Insurance, and Critical Illness Insurance to protect yourself and your loved ones from unforeseen events. Our Individual Savings Plans provide returns similar to mutual funds, but also provide certain benefits and guarantees that no mutual fund can offer, such as principal and death benefit guarantees, as well as protection from creditors. Business owners in Victoria can take advantage of the tax sheltering offered by Universal Life Insurance while simultaneously enhancing their estate. Learn more about permanent life insurance >
Here is a great little Infographic on Generic Vs Brand Name Drugs.
Hat tip to Mint.com where I found it.
March 22, 2010 Medical Expense Tax Credit
On March 4th, 2010 the Federal Budget brought about changes to the Medical Expense Tax Credit (METC) that has implications for the Private Health Services Plans.
Budget 2010 proposes that expenses incurred for purely cosmetic procedures (including related services and other expenses such as travel) be ineligible to be claimed under the Medical Expense Tax Credit. This generally includes surgical and non-surgical procedures purely aimed at enhancing one's appearance such as liposuction, hair replacement procedures, botulinum toxin injections, and teeth whitening.
Telus Health (formerly Emergis) has just issued a report on average pharmacy dispensing fees in BC. Read all about it on the Blog
November 30, 2009 Health Care Savings May Start in Employee Diets.
Employers are starting to look to more inovative and out of the box solutions to the problem of rising health care costs.
"Four years ago, Mr. Burd, whose grocery chain (Safeway) is the nation’s third largest, became something of health care expert when his company saw a looming financial crisis. In 2005, Safeway was forking over $1 billion a year to provide health insurance for its workers, and the cost was rising 10 percent a year. It was Mr. Burd’s moment of truth: he realized he could no longer stand by as health care costs ballooned.
“We were saying ‘Wow, we’re paying almost twice in health care costs as what we’re making in earnings, and in five years it’s going to be another half a billion dollars,’ ” he recalls.
November 3, 2009 Federal Govt. introduces "Special" Employment Insurance (EI) benefits for Self-Employed
The federal government has introduced legislation to extend some Employment Insurance benefits to the self-employed, human resources and skills development minister Diane Finley said Tuesday morning.
The new legislation, if passed, would provide maternity benefits (up to 15 weeks), parental and adoptive benefits (up to 35 weeks), sickness benefits (up to 15 weeks), and compassionate care benefits (up to 6 weeks). Though they will not get EI's regular weekly income replacement should they become unemployed. These are the same benefits available to working Canadians.
October 27, 2009 BC Private Sector Pension Plan
The BC Provincial Government is proposing a Private-Sector pension plan for all small businesses in BC. Details are still scarce but the plan would provide an estimates 75% of private-sector employees with a pension option they do not currently have through their employer.
Send a Direct Message and be entered to win a $20 Starbucks Gift Card.
July 22, 2009 Congratulations
HMR Employee Benefits Ltd. would like to congratulate Robert Reynolds on his successful completion of the Group Benefits Advisor (GBA) certification, a specialty designation focusing on health care and other group benefits.
With this designation Robert solidifies himself as a credible and knowledgeable source of employee benefits and group insurance information in Victoria.
There are currently several articles posted regarding Mortgage Insurance with more to come.
Please come visit the blog, read the articles and post in the comments. The blog is intended to be a place of learning and information. All the articles are intended to increase the readers knowledge of insurance and benefits as well as to give some insight into the often murky waters of the insurance industry. To encourage participation in the blog for every comment or question you post you will be entered into a draw to win a $20 Starbucks gift certificate which will be awarded at the end of the month. Post as often as you wish, please remember to post your name to identify you for the prize.
As always, if you would like more information on any topic, of if you would like to suggest a topic for future issues please feel free to contact us.
June 23 2009 Workplace Flu Shot Clinics
Seasonal flu affects 10-25% of Canadians and result in an average of 20,000 hospitalizations and 4,000 deaths in Canada each year.1 The impact on productivity is substantial, as viruses are typically easily transmitted at workplaces, and flu-related absenteeism ranges from one to five days per employee.
This year conducting seasonal flu clinics is even more critical, given the possibility of contracting both seasonal and swine (H1N1) flu at the same time. The combination of animal and human flu viruses was the cause of the last two pandemics, and this year’s H1N1 pandemic has been linked with unusual seasonal flu activity. While the seasonal flu shot does not protect again H1N1, it does protect immune systems from being compromised, and thereby more vulnerable to other illnesses like H1N1, or other serious complications.
Studies show that up to 45 percent of employees would be more likely to get a flu shot it they had access to immunization in the workplace. Research also shows that workplace flu vaccination programs result in substantial cost savings, including 34% reduction in days of illness and up to 45% reduction in lost work days.
Call us for more information about setting up a flu program for your Victoria business, or download the pdf more info, Shepell FGI's Corporate Flu Shot Clinic
"Fifty-two per cent would choose their benefits plan over an additional cash compensation of $15,000 per year ( versus 41% choosing the money), 92% would choose their plan over an extra week's vacation (versus 6% choosing the vacation), and 59% would choose health benefits over a more generous pension plan (versus 30% choosing the pension plan). Even when the cash was increased to $20,000, nearly half still chose their health benefit plans (45% versus 47% choosing the money)."
"Regionally there are some differences, with plan members in British Columbia being the most likely to choose their health benefits plan (58%) over an extra $20,000 cash per year (35%)."
