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.