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Private Health Services Plan

Large Business PHSP

Definitions

Cost-Plus Health & Dental Plan
The cost of medical and dental expenses plus an administration fee.
Traditional Insurance Plan
A premium based plan that allows for certain medical and dental expenses to be reimbursed by an insurer.

The following section contains an explanation and analysis of our PHSP for large business groups.  This plan is for corporations of six employees or more.  Throughout this section, click a highlighted term for a quick explanation.  We also recommend you read the PHSP Basics section before proceeding through the large business groups area.

The Problem

In order to understand the problem, a brief look at the world of traditional insurance plans is necessary.  For years employers have provided employees with a benefit package that, for better or worse, is entrenched in hiring practices.  The plan is put in place because it may provide a competitive edge for the employer and/or because the employer has a keen desire to protect his/her employees from harm. Group life and group disability plans are ideal for this sentiment.  They are usually cost effective, and serve employees well.

Arguments in favor of retaining a group health and dental plan, however, are not as compelling.  Why?  Traditions have their perils.  A conclusion can be drawn that there are very real emotions related to health and dental care.  To suggest that employers would be remiss in not offering traditional health and dental insurance plans for their employees has an element of truth, or not.

The Solution

Consider a cost-plus health and dental plan for your employees.

  • Cost-plus plans can provide the most comprehensive benefits possible by creating maximum employee choice.
  • A cost-plus plan can control corporate costs by reducing administration fees, and by reducing commissions. 
  • A cost-plus plan allows co-ordination of your plan with government stop-loss plans.

Need More Information?

For more information on the Large Business PHSP, please visit the pages beneath "Large Business PHSP" in the menu on the left navigation menu.