The Fear Factor: Switching to PHSP
A concern among employers even when they know they can save money by implementing a cost plus plan is that without an insurance plan, employees may lose significant protection if disease or injury occurs.
This is a valid concern. But consider:
- The Canada Health Act covers all hospital stays and doctor’s visits.
- Each province has an effective and relatively inexpensive chronic drug program. (B.C, Alberta, Saskatchewan, Manitoba)
- Premiums charged by insurers are in fact redundant to the taxes paid for the above.
Contact Olympia Trust to find out how our government plans combined with our PHSP can protect your employees.