The Benefits of Small Business Health Plans
Did you know that around half of all Canadian businesses are concerned about the level of coverage for their employees? Even though Canada has a publicly funded medicare system and most services are provided by the private sector, there are still companies who provide small business health benefits for their employees.
A Strategic Counsel survey actually found that over nine tenths of Canadians prefer their health care system over an American system. In the American health care system, of course, private citizens pay for their own health care coverage, although employers sometimes provide part or full coverage as well. In Canada, however, there is the Canada Health Act, which specifies the conditions and criteria with which the provincial and territorial health insurance programs must conform in order to receive federal transfer payments under the Canada Health Transfer.
Things like health care savings accounts and health care spending accounts benefit employees, but often the company leadership struggles with the ability to pay for it. In any case, employees who are covered under a health savings account have access to a range of health care services, which standard health plans would either limit or exclude. Ultimately HSA health plans provide small business health benefits, and keep employees happy.