Group travel insurance in Alberta is an important component of your overall group benefits package. Employees are your most important asset, and ensuring they are protected while traveling is sound asset management. Group travel insurance can also an enticing part of your overall compensation offer as it eliminates the need for your employees to purchase it out-of-pocket.
We have all heard the horror stories of someone incurring massive medical costs while abroad, and then returning home to hear they aren’t covered by some insurance loophole. This is why it is important to review your plan and make sure your employees are properly informed of their options while traveling.
The average employee doesn’t always read the fine print, but here are some common limitations you should be aware of:
A stability clause states that coverage may not be available to plan members who have had a major health change within a certain period of time before a trip. Coverage is not necessarily guaranteed if you have been prescribed medication for a recent health change.
Part Time Employees
Eligibility for group travel insurance benefits usually requires the employee to work at least 20 hours per week. If an employee went from full-time to part-time, they may remain on the plan but they could have problems when it comes time to submit a claim. This is a common problem for business owners too, perhaps you are still somewhat involved in the business but are no longer responsible for the day-to-day operations. If you plan on escaping the Alberta cold and wintering down south we encourage you to review your coverage!
Most group travel insurance policies cover travelers for up to 180 days abroad. However, some policies change that coverage period to 90 days for individuals over the age of 65. It’s important to know how long you are covered for, and exactly what you are covered for.
Group travel insurance in Alberta is an important, but often overlooked, component of your overall group benefits package. For a complimentary review of your coverage, contact DENT Benefits today to ensure you and your employees are properly insured while not in-country!
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.