Group Benefits

Here’s a stat that might surprise you: 80% of employees say they’d choose better benefits over a pay raise. In today’s competitive job market, offering a group benefits plan isn’t just a perk—it’s a necessity. It’s how you attract and retain top talent, boost morale, and protect your team’s health and financial security. And here’s the kicker: it’s also a tax-effective way to compensate your employees while saving your business money.

At Sykora Financial, we specialize in designing group benefits plans tailored to Ontario businesses. Whether you’re a small startup or a growing enterprise, we’ll help you create a plan that works for your team and your bottom line.

Why Offer Group Benefits?

Let’s break it down:

• Protect Your Team’s Well-Being: Group benefits help employees manage their health and wellness while safeguarding them from the financial burden of unexpected medical and dental expenses.
• Tax-Effective Compensation: Without insurance, employees pay for medical expenses with after-tax dollars. With a plan, they pay less out-of-pocket—or nothing at all. Plus, premium contributions are made with pre-tax dollars.
• Boost Morale and Loyalty: A strong benefits plan shows your team you care, fostering loyalty and reducing turnover.
• Tax Deductions for Employers: Premiums you pay as an employer are tax-deductible, making it a win-win for your business and your employees.

What We Offer

Our group benefits plans are designed to meet the unique needs of Ontario businesses. Here’s what we can include:

• Extended Health Care: Coverage for drugs, hospital stays, paramedical practitioners, medical supplies, and even out-of-country emergency travel.
• Vision Care: Support for eye exams, glasses, contact lenses, and more.
• Dental Insurance: Basic, major, restorative, and orthodontic coverage to keep your team smiling.
• Group Retirement Plans: Options like pensions, RRSPs, and deferred profit-sharing plans (DPSPs) to help employees plan for their future.
• Health Care Spending Accounts: Flexible, self-funded plans that let employees choose how to spend their health and dental benefits.

Ready to Get Started?

Offering a group benefits plan is one of the smartest investments you can make in your business and your team. It’s not just about staying competitive—it’s about showing your employees they’re valued.

Contact us today to get started. Your employees—and your bottom line—will thank you!