Join The Group
Manage Your Group Benefit Program With MyBenefits

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest article, we talk about how business owners can save time managing their group benefit program with MyBenefits from the Chambers Plan.

Looking for a way to save time managing your group benefit program? MyBenefits from the Chambers Plan can help!

 

What is MyBenefits?

MyBenefits is a secure, online tool that you can conveniently use anywhere, anytime. It provides you, as a business owner, a quick and easy way to access your company’s coverage and premium information.

Whether you are looking to ensure a new employee is set up for benefits or calculate payroll deductions, you can use it to keep employee records current. MyBenefits allows you to add new plan participants, change their coverage, or terminate benefits of former employees.

 

What are the Benefits of MyBenefits?

MyBenefits Chambers Plan YXE Benefits SaskatoonContact Your Advisor

If you need to contact your benefits advisor, your employee’s assistance provider or anyone else connected to the plan, it is all just a convenient click away. 

Instead of call centres, talk to a real life person. At YXE Benefits, we know being able to contact the Chambers Plan to speak with someone who ensures your needs are met is crucial for busy small to medium sized business owners, as well as your employees.

 

Access Group Benefit Publications

With MyBenefits you have access to a variety of group benefits publications. You also have access to time saving tools and resources like an employee deduction calculator and taxable benefit report. It’s like having your own personal benefits plan assistant at your convenience! 

Provide your employees easy access to their own personalized benefits and claims information and more! Give them the details and resources they need, leaving more time for you with less questions being directed towards you.

 

Save Paper!

MyBenefits is eco-friendly when you register online! Do away with paper mailings by registering to receive billing statements online as soon as they are ready. No need to wait for the mail to be delivered when you have everything available to you online via phone, tablet or computer.

Start saving time by administering your group plans online today. To register visit my-benefits.ca and follow the instructions.

 

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’

www.yxebenefits.ca

YXE Benefits: What is Generic Interchangeability?

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we discuss what TELUS® Health Enhanced Generic Interchangeability is and how it benefits members of the Chambers Plan.

A partner in managing the Chamber Plan’s drug program is TELUS Health. They provide efficient processing, consistency of claims and develop polices to enhance sustainability for members.
One of these policies, which has a substantial impact by protecting the affordability of the drug plan, is the Health Enhanced Generic Interchangeability policy.

What is Generic Interchangeability?

Picture this. You and another person get prescribed the same drug. However, you are using the generic brand and they are using the brand name drug. They are a direct substitute of each other, so what is the difference?

Price. You paid less for the generic brand than they did for the brand name.

In most cases, when a generic brand is available over a brand name drug, the pharmacy is advised to substitute the generic drug.

Generic Interchangeability YXE Benefits SaskatoonThis is Generic Interchangeability, which is a designation given to generic drugs that have been identified as a direct substitute for a brand name alternative. Not only are the same active ingredients shown in generic and brand name drugs, generic costs less.

One thing to note, is that the pharmacy is advised to substitute the generic drug and under the Chamber Plan, TELUS will reimburse the generic costs. This practice is not always followed by pharmacies, depending on the provincial drug rules. When you are prescribed a brand name drug, YXE Benefits encourages you to ask your pharmacist if a generic brand is available to cover your bases.

Most Chambers Plan Extended Health options include generic substitution for prescription drugs. What if your physician indicates there is no substitution on your prescription? Then the requested drug will be covered based on the brand name cost, as long as it is listed by TELUS.

At YXE Benefits, we encourage Plan members to speak to their healthcare providers about prescribing generic brand alternatives. This will reduce your expenses and contribute to the sustainability of their drug plan.

If you are interested in learning more about The Chamber Plan and how it could benefit you, contact us for a free quote or more information. Chambers Plan combines accessibility, flexibility and the stability of pooled benefits so whether you are looking to start a benefits plan or make additions throughout the pandemic, we are here to help.

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin.

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’

www.yxebenefits.ca

Changes in the Workplace That Should Stay Post Covid-19

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we discuss changes in the workplace that should stay after the Covid-19 pandemic is merely a memory.

Organizations have had to quickly adapt to the changes that have come along with the Covid-19 pandemic by managing policies and procedures daily to comply with government regulations. Through all the changes employees have endured, there are a few positive changes in the workplace that should continue including expanding wellness options, increasing communication practices and the need for absence programs.

Expanding Wellness Knowledge and Efforts

Mental and financial wellness have become more present during these uncertain times for employees. An increased awareness of the warning signs in the lives of people that are struggling with their mental health has been initiated, with virtual resources being offered from some employers. This gives employees a greater accessibility to the resources they may need, especially during the pandemic which has added stress and more attention around everyone’s personal mental wellness. At YXE Benefits we assist by providing resources for mental wellness to both employees and employers.

Employers are also aware of the financial struggles of their employees and some have included financial advisor services within their companies’ benefits program. Whether employees have been given less hours or are working from home on a limited schedule, there has been financial strain for those individuals during this time. We encourage employers to continue highlighting employee wellness within your company and offer a variety of benefits to help get you start initiating one.

In an article by Benefits Canada, they stated that 37% of employers expect to include new resources and tools for overall well-being while 19% of employers plan to increase their financial support for their employees well-being.

 

Heightened Communication Practices

Employers quickly increased communication practices during the Covid-19 pandemic to inform Changes in the Workplace YXE Benefits Saskatoonemployees of how the business and their position was affected and the changes moving forward. Employees represent your brand to the community, if they don’t understand what the company is going through or are misinformed, that could cause harm to the brand’s reputation. After the pandemic is over, employers should continue communicating to their employees about what is going on in the industry and how it not only affects the company but the employees themselves.

Communicating to customers is a different approach since the focus needs to be on what is important to the customer. Companies who increase communication efforts to customers by showing empathy, being proactive and transparent shows the real value of an organization.

Regular communications via email blasts, social media or on the company’s website continue to flow leaving employees and the general public aware of company updates. Communications from the Chambers of Commerce Plan regarding the Covid-19 pandemic are available online.

Changes in the Workplace – Need for Absence Programs

One of the top recommendations to do if you feel ill during the Covid-19 pandemic is to stay home. If employees are back to work or when they return, they may feel obligated to still go into the office in fear of missing work for financial reasons. With short-term and long-term disability options among other absence programs included in an employer’s benefits plan it relieves the stress employees may feel while increasing a safer work environment and decreasing the risk of spreading the infection in the workplace.

The Covid-19 pandemic has enforced change on all of us. It is becoming more vital for companies to provide wellness resources to employees through increased communication practices as well as the ability to offer employees leave without financial strain. These few changes discussed are positive to come out of the pandemic and should be kept in mind long after the pandemic is over.

If you are interested in learning more about The Chamber Plan and how it could benefit you, contact us for a free quote or more information. Chambers Plan combines accessibility, flexibility and the stability of pooled benefits so whether you are looking to start a benefits plan or make additions throughout the pandemic, we are here to help.

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin.

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’

www.yxebenefits.ca

4 Tips on Practicing Moderation

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we Share the benefits and benefits 4 tip on practicing moderation.

4 Tips on Practicing Moderation in 2020

Anytime  is a good time to think about our daily habits—things we’d like to change, but have yet to put into action. Many consider diet change or exercise regimens, but without considering the value of moderation. Many resolutions are not sustainable, and, as a result, go up in flames weeks after launch. A basic online definition of moderation is “avoiding excess or the extreme.” What we do while we are not at work matters, and moderation in our personal lives can positively impact our business lives.

Whether it’s choosing a small instead of the large popcorn at the movie theatre, or saying “no thanks” to work that doesn’t meet your business or personal priorities at the time, opportunity to practice moderation is everywhere.

Diet.

It’s safe to say, moderation is everything when it comes to the food and drinks we consume. In a world where we face open boxes of donuts in the office kitchen, and huge portions at restaurants, we are up against a lot. That is, our will power has to be rock solid.

Practicing Moderation in eating

The latest cleanse challenge or hip diet might seem like the way around this, but more times than not, we turn into ticking time bombs. Once the cleanse is over, we go right back to eating what we always eat (and sometimes over eat to make up for lost time). We are social beings—showing up at the pub for a water and salad is hardly fun, but choosing the healthy option 5 out of 7 days a week can take us a long way.

Moderation tip: If you’re eating out today, consider saving half of your meal to take home, or eat it later this afternoon.

Exercise.

Everyone knows, when it comes to exercise, consistency is key. Like cleanses and diets, exercise challenges can be fun, but usually only produce short-term gain. If you’ve gone from working out 2-3 days a week to 6 days a week, it can also be a recipe for injury if not supervised by a professional. A challenge is fun, but do it safely. If the gym bores you, change it up! Monday, yoga, Wednesday, gym, Friday kick-boxing, or whatever gets you pumped.

walking up the stairs Practicing Moderation

Moderation tip: Commit to that exercise slot in your schedule the same way you commit to showing up to work on time. The commitment to yourself is as important as the commitment you make to your boss, partner, or co-workers.

 

 

Saying Yes.

Stop it. You are burning yourself out, not leaving enough time or energy for personal growth, relationships, business growth, or whatever is important to you. As President and CEO of Lead from Within, Lolly Daskal says, “You can be a good person and still say no.” It’s been said a hundred times before—define your priorities, vocalize your goals, put them somewhere visible, and you will know what to say yes to, and what to delegate.

Practicing Moderation in saying noIt also helps to have something prepared, like a script, so you feel confident you can turn away work without offending or burning bridges when you’re asked. Your instinct can actually be a strong indicator of whether or not a project is aligned with your business goals. Hang on to that initial feeling when you were asked to participate; if there was a sense of excitement from the beginning, it’s probably work you won’t regret taking on.

Moderation Tip : Above all else, give yourself permission to respect your own personal boundaries.

Spending.

According to Stats Canada, in 2017, “Canadian households in the lowest income brackets spent an average of $33, 764 on goods and services, compared with $105,493 for those in the top 20% of household incomes,”—a good indication that we tend to live up to the lifestyle we make for ourselves. In other words, we spend what we earn.

Practicing Moderation spending

But imagine, this year, you stay put and decide against a bigger mortgage, buy an older vehicle, take one less shopping spree, try a staycation. There might be a natural cleansing to be experienced in having less “stuff” and more in the bank account. We are a consumer culture, but if you step back for a moment the next time you are about to make a purchase and ask, do I really need this? Or better yet, will this make me happy for longer than a day, what will your honest answer be? If you don’t make the purchase, what will you have left at the end of 2020? It might be worth the experiment.

Moderation Tip : If you were to make a personal budget, what would it look like?

Whether you are moderating your single-use plastic consumption, trading in the car for public transportation, cutting back on screen time, or choosing the single-patty burger instead of the double, we all know, but sometimes fail to acknowledge less, more times than not, is more.

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

2020 Canadian Mental Health Week and Covid 19

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we share information about 2020 Canadian Mental Health Week and how Covid 19 may be affecting your teams mental health.

2020 Canadian Mental Health Week is May 4th – 10th

2020 Mental Health Week

During CMHA 2020 Canadian Mental Health Week, let’s #GetReal about how we really feel.

 

“ ‘Social distancing’ is a misnomer: we should be physically distancing, but remain as social as ever. “ – Margaret Eaton, national CEO of the Canadian Mental Health Association.

 

COVID-19 – Taking care of your mental health

The COVID-19 crisis can have an impact not only on our physical, but also our mental health. The current pandemic can cause anxiety ― a lot of false information is circulating, and a lot of unknown remains. Although we do not know all the answers, there is no need to panic. We can instead ensure that we respect preventive measures for social isolation and hygiene, so that we all do our part to protect the population.

Our public health and clinical teams have curated a list of reliable resources that can be helpful to you and your employees.

Novus Health’s Health Information Specialists have been trained to perform a mental health screening assessment for each COVID-19 call they receive, and can provide a list of available resources to those who need professional assistance.

 

RELIABLE RESOURCES

FOR ALL

  • Centers for Disease Control and Prevention (English): https://www.cdc.gov/coronavirus/2019- ncov/prepare/managing-stress-anxiety.html
  • Centre for Addiction and Mental Health- CAMH (English):  https://www.camh.ca/en/health-info/mental-health-and-covid-19
  • World Health Organisation – WHO (English) https://www.who.int/docs/default-source/coronaviruse/coping-with-stress.pdf?sfvrsn=9845bc3a_2
  • World Health Organisation – WHO (English) https://www.who.int/docs/default-source/coronaviruse/covid19-stigma-guide.pdf

 

FOR KIDS AND TEENAGERS

  • Unicef (Bilingual) https://www.unicef.org/coronavirus/how-talk-your-child-about-coronavirus- covid-19
  • Kids Help Phone / Jeunesse, J’écoute https://kidshelpphone.ca/get-info/were-here-for-you- during-covid-19-novel-coronavirus/ & https://jeunessejecoute.ca/information/nous-sommes-la- pour-toi-pendant-lepidemie-du-covid-19
  • World Health Organisation – WHO (English) https://www.who.int/docs/default- source/coronaviruse/helping-children-cope-with-stress-print.pdf?sfvrsn=f3a063ff_2

 

FOR VICTIMS OF DOMESTIC VIOLENCE

  • Ending Violence Association of Canada: Find Help Across Canada https://endingviolencecanada.org/getting-help/
  • Government of Canada: Get help with family violence https://www.justice.gc.ca/eng/cj-jp/fv- vf/help-aide.html
  • HealthLinkBC: Domestic Violence https://www.healthlinkbc.ca/health-topics/te7721 ONLINE PSYCHOLOGIST SERVICES (VIDEO, AUDIO AND CHAT):
  • HASU – Therapy from home (across Canada): https://www.hasuecounselling.ca/hasu-provider- network/

 

TIPS TO COPE WITH STRESS AND ANXIETY WHILE WORKING

Social distancing measures are the most effective to slow down the outbreak, and many companies now allow their staff to work from home, often for an indefinite period. This means employees may tend to have less social interaction, and maintaining good communication can be a challenge.

In this regard, here are some tips and advices from the Centers for Disease Control and Prevention you can share with your staff to help manage stress and anxiety in this particular situation of the COVID-19 pandemic:

  • Take breaks from watching, reading, or listening to news stories, including social media. Hearing about the pandemic repeatedly can be upsetting.
  • Take care of your body. Take deep breaths, stretch, or meditate. Try to eat healthy, well-balanced meals, exercise regularly, get plenty of sleep, and avoid alcohol and drugs.
  • Make time to unwind. Try to do some other activities you enjoy.
  • Connect with others. Talk with people you trust about your concerns and how you are feeling. https://www.cdc.gov/coronavirus/2019-ncov/prepare/managing-stress-anxiety.html

 

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

Will an accident leave your business disabled?

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  Our  latest post subject is will an accident leave your business disabled?

What if you had an accident and couldn’t work for a while?

Your disability insurance would provide income in place of your salary until you were on your feet again, but what about those business bills! Unfortunately, none of us can predict a sudden illness or injury. It’s wise to consider how your absence would impact your business and make sure you’re prepared for unforeseen circumstances.

Designed for self-employed business owners who generate all of their firm’s sales and revenues and who are involved in the day-to-day operations of the business, BOE covers your business’ fixed expenses if you’re away for an extended period of time due to disability. BOE must be purchased in conjunction with Long Term Disability benefits.

Available in blocks of $100, coverage is available from $500 to $2,000 per month. The benefit will pay eligible business expenses, after a 30 day waiting period, for up to 18 months while you are disabled. Eligible business expenses are the actual, normal and customary expenses incurred by you, the owner, in the operation of your business. For partnerships, your assumed portion of such expenses is covered.

Eligible business expenses include:

  • Rent, electricity, telephone
  • Business taxes and licenses
  • Property taxes for the place of business
  • Leasing and amortization costs of equipment, including automobiles
  • Interest including the interest portion of mortgage payments, unpaid bills or lines of credit
  • Amortization or periodic repayment of capital including mortgages

In Addition:

  • Salaries of personnel who do not generate income and whose services are essential during your disability
  • Professional services of an outside accountant
  • Professional dues and professional liability insurance
  • Office cleaning
  • Postage and office supplies

You can purchase Business Overhead Expense coverage in conjunction with Chambers Plan Long Term Disability benefits. Together, it’s the coverage business owners need, at an affordable price.

With quick claim payments, rate stability, and guaranteed renewable coverage, the Chambers Plan makes it easy for you to invest in the health and well-being of your employees. 3,000 small businesses just like yours join the Plan every year. With the help of our local advisors at YXE Benefits, let us design a plan to fit your needs and your budget from an array of benefits and options:

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

Medical Cannabis by Shoppers Now Available in Saskatchewan

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we share the news that the Canadian Pharmacy chain, Shoppers now offers medical cannabis on their e-commerce platform to Saskatchewan consumers.

Medical Cannabis by Shoppers

The Shoppers e-commerce platform for medical cannabis (shoppersdrugmart.ca/cannabis) allows patients to order directly from a familiar and trusted Canadian brand. It also provides counselling, strain selection and support.

On Dec 3rd Shoppers Drug Mart shared a media release to share the news.

Shoppers Drug Mart expanded its online platform for the sale of medical cannabis to include Saskatchewan. The service breaks down existing barriers for patients by providing convenient access to a broader range of options through a single source, alongside expert advice and counsel from trusted healthcare professionals.

According to Statistics Canada, over 1.1 million Canadians use cannabis for medical purposes, but more than 800,000 patients are self-medicating with recreational or illegal cannabis, without the guidance of a healthcare professional. In Saskatchewan, 8,952 patients obtain their medical cannabis through the legal system, with a decline of almost 5 per cent in the first six months of 2019. The high rate of self-medicating is concerning as a 2019 survey found that 76 per cent of medical cannabis patients wrongly believe there are no side effects from combining cannabis with other medications.

“Canadians continue to use cannabis for medical purposes but many have been left behind by traditional models. Patients need more convenient access to their medicine with professional oversight and trusted support,” said Jeff Leger, President, Shoppers Drug Mart.

“We expanded Medical Cannabis by Shoppers nationally to provide enhanced service to more patients so they can feel empowered to access medical cannabis by Shoppers through the medical market with the guidance of healthcare professionals.”

 

First launched in Ontario in January 2019 and then in Alberta in April 2019, Medical Cannabis by Shoppers provides patients access to a number of products from Canadian licensed producers, shipped directly and discreetly to their doorstep. Additionally, support is available for patients through the Shoppers cannabis care centre – a call center staffed by professionals who offer counselling and support for patients. Under current regulations, pharmacists cannot dispense medical cannabis from a pharmacy.

Patients in Saskatchewan can now obtain their medical document (authorization from a health care practitioner) directly from shoppersdrugmart.ca/cannabis or bring it to their local Shoppers Drug Mart pharmacy to help process the information.  Specialized advisors from the Shoppers cannabis care centre will then contact patients, review their medical history and any contraindications with current medications, and provide support with online registration and strain selection.

Education for pharmacists is supported by the Shoppers Drug Mart Medical Advisory Board, a panel of independent medical experts from across the country who provide guidance and advice on new clinical evidence, and have developed clinical algorithms to help the Shoppers cannabis care Advisors select the correct strain based on the prescriber’s recommendation.

For patients who do not have access to a healthcare practitioner, Shoppers can connect patients to a licensed physician or nurse practitioner to assess whether a patient is an ideal candidate for medical cannabis.  Shoppers can connect patients to healthcare practitioners through an online telemedicine portal or patients can use the Shoppers Clinic Finder at https://cannabis.shoppersdrugmart.ca/medical-document-info

Shoppers has signed supply and quality agreements with 12 cannabis producers to provide a wide variety cannabis brands and medical accessories with the convenience of one medical document.

Read More about Canadian Cannabis Legalization and its impacts in our other cannabis articles 

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

Chambers Plan Disability Insurance Coverage Explained

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the The Chambers of Commerce Group Insurance Plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we discuss Disability insurance coverage.

Chambers Plan Disability Insurance Coverage

With quick claim payments, rate stability, and guaranteed renewable coverage, the Chambers Plan makes it easy for you to invest in the health and well-being of your employees. 3,000 small businesses just like yours across Canada join the Plan every year. With the help of your local advisors at YXE Benefits , the Chambers plan design a plan to fit your needs and your budget from an array of benefits and options including disability insurance.

Comprehensive Protection: Short Term & Long Term Disability Insurance

Disability insurance, whether short or long term, gives employees a financial cushion in the event they become disabled due to an injury or illness and are unable to work for a period of time. Although Health insurance will typically cover the costs of treating an injury or illness, most people will have a difficult time paying for basic necessities if they aren’t able to work.

Short Term Disability Insurance (Weekly Indemnity)

We understand that each of our clients has a different budget and unique needs. You will be able to decide how long your employees must be off work before they may begin to collect benefits, and how long they may collect benefits. For employees under age 65, Short Term Disability insurance benefits represent 66 2/3% of their gross income to a maximum of $1,200 per week.

Long Term Disability (LTD) Insurance

Insuring employees for the long term, LTD coverage can help provide financial security so a disabled employee can focus on recovery and returning to work. Chambers Plan LTD benefits provide employees with:

  • Up to $7,000 per month
  • Benefits for 2 or 5 years, or until age 65
  • Guaranteed coverage to groups with 3 or more employees (non-evidence limits vary from $1,200 to $3,000)

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

The Chambers Plan Group Retirement Savings Plan In Saskatoon

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the Chambers group plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we share information on The Chambers plan group retirement savings plan.

The Chambers Plan offers an innovative group retirement savings plan designed to help Saskatoon businesses like yours be competitive and assist in your employees’ future financial needs.

Stay Competitive With a Group Retirement Savings Plan

  • Submit contributions
  • Access support tools and reports that are easy to read and understand.

group retirement savings plan

Having access to our online retirement planning tools, statements, and educational materials, Chambers Plan Group Retirement Solution works well with your company’s overall compensation approach by enhancing the future financial security of your employees and their families. Implementing a comprehensive retirement savings plan will help you to stand out when recruiting and retaining employees and create a sense of long-term loyalty and pride in your team.

Benefits to Your Employees

  • Low fees. The investment management fees (IMFs) in a group plan are typically lower than the management expense ratio fees charged by individual mutual funds and banks.
  • Immediate tax savings. Employees see immediate tax savings with the group RRSP if contributions are deducted from their gross pay, which means they pay income tax only on the reduced amount.
  • Simple online administration:
    • Fast and easy online enrolment
    • A secure website featuring comprehensive education and support tools
    • Ongoing online administrative support, including access to live support through our customer service centre and from licensed financial education specialists
    • An annual statement that is mailed to the employee’s home, summarizing account activity

See related YXE Benefits posts on group benefits.


We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

 

What Is Stop Loss Insurance?

YXE Benefits offers the simple, stable, smart group benefits choice for Saskatoon businesses; combining accessibility, flexibility and the stability of pooled benefits. Saskatoon companies choose the Chambers group plan because it offers unsurpassed value & outstanding customer service. The Chambers plan group benefits are for Saskatoon Chamber members.  In our latest post, we share an article by Benefits Canada on stop-loss insurance.

YXE Benefits Saskatoon

Stop-loss Insurance takes claim off the Employer’s shoulders

When an employee has a health issue requiring expensive treatment, the associated high-cost claims can be significant for their benefits plan sponsor. But it’s impossible to predict when a large claim will arise, so stop-loss insurance, which takes the claim off the employer’s shoulders, is one option to help protect against these unexpected costs.

As a type of insurance policy that sits on top of a benefits plan, stop-loss is available to both fully- and self-insured plan sponsors. When choosing stop-loss insurance, an employer selects a threshold up to which it can reasonably cover claims — ranging from between $10,000 and $100,000 — and any claims beyond that will be covered by the policy.

Stop-loss not a substitute for plan management

The main benefit of stop-loss insurance is its ability to protect the Saskatoon employer from catastrophic claims. Forstop loss insurance
self-insured groups, it primarily acts as a budgeting tool so there aren’t any unexpected hits that could affect accounting.

On the other hand, stop-loss can become costly. While a claim may be mitigated in the first year, premiums can rise
in the following years, essentially providing only short-term stabilization. This is especially difficult if the claim is reoccurring, which is the case for most drug claims.

“Stop-loss doesn’t help you avoid cost; it simply helps you prevent an unexpected surge in costs in a given year. It’s not a substitute for plan management.”

Another drawback is that most plans only have a single market for stop-loss insurance, meaning employers can only purchase it from one group, typically their own health insurer, which limits them to that insurer’s quote.

To limit risk, employers can use a pre-existing condition clause for an employee’s first year of employment by setting benefits to a specific limit so they can’t bring in unexpected expenses. Another option is to put a limit on drug reimbursement levels or incorporate provincial drug programs into the benefits plan.

While stop-loss prevents large, unexpected claims from affecting a plan sponsor, it’s important to understand that issues can still arise after a claim is made and employers should be aware of all the available options, so they can make a decision before it’s too late.

See related YXE Benefits posts on health insurance.

We encourage you to connect with us on our Saskatoon social media platforms on Facebook, Twitter & Linkedin. 

Contact us today for a quote…. find out if you can benefit!

‘Join the Group- It’s Time To Benefit’
www.yxebenefits.ca

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