Why is group health insurance so important for employers and employees?
These are the summary of the last survey by the Canadian Life and Health Insurance Association (CLHIA) in Feb 2023
Group Health Insurance is a great deal of value
88% of those who have health benefits plans place it as a great deal of value. 84% say that their benefits plan has been quite helpful in saving them money.
71% of those who don’t have access to such a plan, say they would value having one a great deal.
Group Health Insurance saves money for you
The average plan user estimates that their plan saved their household $913 in prescription drug costs last year, $816 in dental care costs, and $339 in eye care costs.
90% believe that group or employer insurance coverage that helps people with the costs of health services has been an example of private involvement in health care that has been a positive.
Tax credit of Group Health Insurance
The large majority (93%) are open to the idea of the government providing a tax credit for smaller and medium businesses that offer benefits for employees to help cover the costs of eye care, dental care, physiotherapy and mental health services. The appeal of this idea is broad across all regions, generations and across party lines.
Source:
Canadians and Health Care: Workplace and Group Insurance Plans
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