June 24th, 2018

Business Beat: Ten things you should know about our employee benefit plan

By Medicine Hat News on August 9, 2017.

10. No minimum firm size

Your company is eligible to apply even if it’s a one-person operation. Chambers Plan was introduced to protect small businesses of various size and statures, from home-based businesses to growing companies (up to 50 employees).

9. No industry restrictions

All for-profit businesses are eligible to participate in Chambers Plan as long as they are members of a participating chamber of commerce or board of trade. We believe that your areas of expertise shouldn’t determine your coverage. Based on the specific needs of your business and employees, we have a plan that’s right for you.

8. Guaranteed approval

With our plan, firms as small as one or two lives can choose options with guaranteed coverage. Organizations with five or more employees can choose extensive dental coverage and groups of ten or more can add children’s orthodontics. Chambers Plan can provide the coverage you need at a cost you can afford.

7. Guaranteed renewable

Chambers Plan guarantees your firm can renew coverage as long asyou pay your premium each month. It’s just another reason why Chambers Plan is different. And we make it easy tostay on top of things by offering one automatic payment to renew your chambermembership and Plan premium.

6. Rate stability

Claims are averaged over more than 30,000 companies just like yours. Unlike most carriers, Chambers Plan utilizes a partial pooling concept on the health and dental benefits. Small fluctuations in a firm’s claims do not automatically factor into the rates giving firms a greater opportunity for rate stability over the longterm.

5. Not-for-profit

Chambers Plan operates under the direction of the not-for-profit Chambersof Commerce Insurance Corporation of Canada. Keeping your interests front and centre, Chambers Plan operates under the guidance of volunteer directors who are also chamber members, with all surpluses going back into the Plan. That’s why 900 chambers of commerce and boards of trade across Canada actively endorse the plan.

4. Outstanding service

The Plan’s Service Centre works in concert with your exclusive, local Chambers Plan advisor to give you answers to all your questions. You deserve an advisor who understands your needs and will help you design a plan that reflects the size and requirements of your business. Our local advisors and our national service centre are here to serve you. And our my-benefits online utility and app allow employees to check coverage and submit claims no matter where they are.

3. Fast, accurate payments

Most health and dental claims turn around in 48 hours. Health options include on-the-spot processing of prescription drug claims using the Assure Card. Chambers Plan is also a member of the TELUS eProvider network which allows thousands of practitioners like chiropractors and vision care providers to submit claims on your behalf. Our my-benefits online utilities and app allow plan members to submit claims electronically with claim reimbursements deposited directly to an individual’s bank account.

2. You choose the coverage

Every firm participating in Chambers Plan has a custom benefit program addressing specific needs. In addition to competitively priced health, dental, and vision benefits, our wide-ranging options include travel insurance, group retirement solutions, life and disability benefits and a guaranteed critical illness benefit up to $50,000. Best Doctors services for employees, and Business Assistance Service for owners, are part of every plan at no additional cost. There are even options for business owners at retirement. Best of all, Chambers Plan can be adjusted as your business expands, financial situation changes, or number of employees increases or decreases.

1. You control the cost

Customization puts you in control so you get top value for your dollar. We recognize that small business owners are constantly struggling to keep costs down. By choosing options based on your company’s needs, and carefully selecting the amount of coverage provided, you can create an impressive custom plan that doesn’t break the bank. Chambers Plan ensures your insurance coverage is every bit as efficient as your business.

Since Chambers Plan is unique to chambers of commerce and their members, we have the flexibility to do more for you, things like a retiree plan for owners, coverage up to age 80, an option for employees to continue benefits after they leave your firm (ContinYou), business assistance service, cost plus options, no family content rules, couples rates and zero industry restrictions. All these features and benefits ensure your insurance coverage is every bit as efficient as your business.

For more information on our Chambers of Commerce Group Insurance Plan contact Joanne Letkeman, exclusive advisor with Brightan Financial Strategies Inc. at joanne@brightan.com or 403-504-2166 ext 1 or visit us online at http://www.medicinehatchamber.com/pages/ChambersGroupInsurancePlan

Lisa Kowalchuk is the executive director of the Medicine Hat & District Chamber of Commerce. For more information on this column or the Chamber, contact 403-527-5214.

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