Employee benefit plan

[jdg364]

We have a couple of year round employees and our farm is looking at bringing in a benefit program (dental, eyes, drug, health, no life insurance) for them and our family.

Had a quote from the chamber of commerce and it worked out to roughly $2000 a year per employee. Just wondering if that’s a standard amount or if there’s other programs out there better suited for ag-businesses (I just read in the western producer that a division of Farmers Edge, DigiAg Risk Management, will start offering insurance now).

Thanks.

[LEP]

We have a couple of year round employees and our farm is looking at bringing in a benefit program (dental, eyes, drug, health, no life insurance) for them and our family.

Had a quote from the chamber of commerce and it worked out to roughly $2000 a year per employee. Just wondering if that’s a standard amount or if there’s other programs out there better suited for ag-businesses (I just read in the western producer that a division of Farmers Edge, DigiAg Risk Management, will start offering insurance now).

Thanks.

A group policy will likely always be cheaper unless you and your employees don't use it much. Not sure if costco offers a group policy to members. But you can get a quote at Blue Cross or Great West to compare. Look at the various coverages as well as the premium to base your decision on.

[Landdownunder]

Great initiative there.
Wow cheap.
I pay $115 per week for silver cover.
Been in it since I was 18.
Had 2 hips replaced, shoulders repaired 3 times knee once. Plus other pissy minor stuff.
Basically all no cost including hospital stay.
Wife myself and one son on it.

[Sodbuster]

Great initiative there.
Wow cheap.
I pay $115 per week for silver cover.
Been in it since I was 18.
Had 2 hips replaced, shoulders repaired 3 times knee once. Plus other pissy minor stuff.
Basically all no cost including hospital stay.
Wife myself and one son on it.

Looks like your winning, but sometimes winning is not the goal.

[shtferbrains]

The impotant thing about group insurance is that the group has to be big enough that if you find you have a family of hypochondriacs that spend huge dollars it doesn't blow your rates out of the water from one year to the next.
The C of C program is pretty hard to beat from what I hear but have no actual experience.
Was in a small group once long ago that was a disaster. Some pay and don't use at all and some get thier teeth all crowned.

[GDR]

We have a couple of year round employees and our farm is looking at bringing in a benefit program (dental, eyes, drug, health, no life insurance) for them and our family.

Had a quote from the chamber of commerce and it worked out to roughly $2000 a year per employee. Just wondering if that’s a standard amount or if there’s other programs out there better suited for ag-businesses (I just read in the western producer that a division of Farmers Edge, DigiAg Risk Management, will start offering insurance now).

Thanks.

Try to package with your other insurance if possible. What about some long term disability coverage at the same time, should be part of a group plan, should also be valuable to an employee and yourself and depending on where you operate will have an impact on wcb premiums.

[Taiga]

Great initiative there.
Wow cheap.
I pay $115 per week for silver cover.
Been in it since I was 18.
Had 2 hips replaced, shoulders repaired 3 times knee once. Plus other pissy minor stuff.
Basically all no cost including hospital stay.
Wife myself and one son on it.

Is that really $240,000 paid over 40 years (don’t know your age, just using 58 for my calc) ?

[blackpowder]

Wow, $460/month. From memory, $190/3 months for my son and I on AB Blue Cross.
Interesting.

[LEP]

Wow, $460/month. From memory, $190/3 months for my son and I on AB Blue Cross.
Interesting.

Don’t think that is an apple to apple comparison. Mallee has access to a private system , quick access for major joint replacements , diagnostics, plus drugs if I remember correctly. The way he describes it likely access for private care for whatever ails you.

Blue Cross is things like a private room, ambulance, prescriptions etc.

I would take his plan in a minute.

[blackpowder]

I just appreciate learning how others do it. Most people here too narrow minded for health care discussions.
Confirms what I suspected.

So, now curious about access for those Aussies who can't afford that.
Cant be worse than the one for all here?
Sorry if derail.

[Landdownunder]

Is that really $240,000 paid over 40 years (don’t know your age, just using 58 for my calc) ?

When I started at 18 had basic cover and way cheaper then. Good guess with age mate spot on.

Back then wow maybe $600 per year. Once I hit 45 I tamped cover from basic to silver with hospital extras

Yeah edit LEP is correct. I’m on Christmas card list with my orthopaedic surgeon I contribute to his darn BMW payments.

He’s operated on me 5 times before last hip plus clean outs.

Saw him maybe June 20 said me hips nearly stuffed. He said don’t worry about X-rays and shut when your ready ring me. Rang him mid feb new hip 3 weeks later.

Saw him that night did I make right decision he said yep NFG starting to bleed.

If you want full tilt cover ya pay for it I have no qualms.

Call me a white privileged private health right winger so be it. TIC comment there….

Son had to have appendix out in sept 18 hours later out. Private health worth every penny

[Landdownunder]

I used to play Aussie rules football live by the sword die by the sword attitude, rock climb, bar room punch ups my win loss abysmal, screwing around on motorbikes since age of 8. Body’s a bit worse for wear.

Aussie health system ain’t to bad just darn waiting lists you guys might be same.

Missus fell off horse two three years ago helicoptered to big smoke. No cost.

[dfarms11]

Many companies to go with. Alberta blue cross, AMA, Costco, The big life insurance companies have as well. For roughly $100/ month/ person should get you 80% drug and dental coverage ( likely $1200/ year for dental coverage and $10000 drug). $125/ year vision, $500/ year for most therapist's. Plus other benefits. I believe we are close to break even most years. However I figure the little extra we pay is cheap insurance for future years if we ever need more prescriptions. And it spreads medical payments equally throughout the year. Not big lump sum payments especially for dental work

[jdg364]

Many companies to go with. Alberta blue cross, AMA, Costco, The big life insurance companies have as well. For roughly $100/ month/ person should get you 80% drug and dental coverage ( likely $1200/ year for dental coverage and $10000 drug). $125/ year vision, $500/ year for most therapist's. Plus other benefits. I believe we are close to break even most years. However I figure the little extra we pay is cheap insurance for future years if we ever need more prescriptions. And it spreads medical payments equally throughout the year. Not big lump sum payments especially for dental work

Am I reading this correctly, Costco sells health insurance?

[dfarms11]

Am I reading this correctly, Costco sells health insurance?

Yessir. Just Google it