As part of the plan’s design, claims are pooled together with other small businesses that have been operating for at least six months. This claims pool approach will lower the financial impact of high claims activity and ensure that the plans remain cost-effective for businesses over time, Medavie explained in a statement.

Other features of the plan include:

• Stable pricing for “must-have” employee benefits that can be up and running within days
• No deductibles or medical questionnaires required for core benefits
• Digital tools for convenient plan access and claims management
• Direct payment of claims through Medavie Blue Cross’s provider network
• Access to virtual health care options
• Easy activation and administration

“With a strong commitment to improving the wellbeing of Canadians, we are always looking at ways to reimagine our plans to support the needs of Canada’s diverse workforce,” said Medavie Blue Cross regional vice president of business development Alaina MacKenzie. “We’re excited to offer Benefits for Small Business as a flexible, cost-effective way for small business owners to give their employees access to a comprehensive benefit plan that supports their health and wellness needs, both during the pandemic and beyond.”

Source: Insurance Business Mag