Coordinating Multiple Group Benefit Plans

If you and your spouse both have health coverage from different employers, you can combine the coverage to get 100% of your expenses covered. Coordinating multiple group benefit plans can save much of the out-of-pocket expenses related to health care costs in Canada. This is called coordination of benefits (COB) and is sound financial strategy for most families, especially if you have children.

COB Example

Let’s say your group benefits plan covers 80% of expenses submitted for routine dental cleanings. If your spouse also has a plan that covers 80% with a different employer, you can combine the two plans for 100% coverage.

Your benefits plan would cover the first 80% and your spouse’s plan will cover the remaining 20%.

COB with Dependents

Coordinating multiple group benefit plans can greatly assist with the cost of a child’s health care. If your child needs braces, fillings or any number of dental and medical procedures; COB can allow families save money while providing essential health care for your children. Similar to the first example, the spouse who has a birthday earlier in the year submits claims against their plan, then the remainder is submitted on the other spouse’s plan.

Examples like the one above highlight the need for business owners to provide cost-effective health care options. For single parents, coordinating multiple group benefit plans is not an option, they may be stuck with costly expenses if only a portion is covered, or have no coverage.

To learn more about why small businesses should offer employee benefits, Click Here.

BC’s standard Medical Services Plan (MSP) is excellent for life threatening emergencies, however extended coverage can really ease the burden of routine medical procedures on families. If you would like to learn more about coordinating multiple group benefit plans, or about offer a comprehensive group benefit plan to your employees, contact DENT Benefits today!

The information in this material is derived from various sources. Material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources; however, no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please contact us for benefit, pension and insurance advice based on your corporate or personal circumstances.

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