My Financial Elements CA

Group Plans

Group Health Insurance

What is extended health insurance?

A group benefits plan helps employees cover the cost of things that provincial health care plans may not pay for, including certain prescription drugs, dental, hospital, vision, paramedical and ambulance services. You can also combine your group benefits plan with a retirement and savings plan to help your employees reach their financial and retirement goals.  

Why offer a benefits plan?

Benefits for your employees

· Employees can get coverage at a reduced cost compared to most personal plans

· Help protect your employees and their family’s health

· Help reduce financial stress if something happens

Benefits for your company

· Help improve morale and increase productivity

· Can be less expensive than providing salary increases as there are no additional increases in CPP, EI or Workers’ Compensation rates

· Premiums paid on group benefits can be written off as a business expense

· Maintain a competitive edge in the job market

· Attract and keep key employees

Health & Dental Benefits


Reimburses a portion of most prescription drug costs.

Vision care

Covers all or a portion of the cost of prescription eyeglasses or lenses.

Hospital expenses

Helps cover hospital care costs, in the province you live in, that are not covered by your provincial plan.


Covers eligible paramedical expenses that may include the services of chiropractors, physiotherapists and other medical professionals, depending on your plan.

Medical services and equipment

Covers services and equipment your physician considers necessary.


Covers medical and related expenses.


Can cover expenses ranging from cleanings to orthodontics – partially or fully – depending on your plan.

Health and wellness

Offers programs focused on improving and maintaining your health and wellness – depending on your plan.

Changing jobs or retiring? We have options to replace your group benefits.

Leaving your job doesn’t mean you need to leave your benefits behind. Stay protected with affordable health and dental insurance coverage through Sun Life. You may be eligible to replace your coverage with our Choices plan. This could include:

· Health and dental insurance

· Critical illness insurance

· Life insurance

Group Retirement and Savings

Help secure your employees’ financial future

A group retirement and savings plan can be tailored to the needs of your business and your employees’ financial goals.

The advantages of a Canada Life group retirement and savings plan

Offering a group retirement and savings plan can be an affordable and effective way to attract, motivate and keep employees, while helping them save for their retirement. But it’s not just about your employees. There are real benefits to your company when you offer a plan.

What is a group retirement and savings plan?

A group retirement plan is set up by an employer for employees as a workplace benefit. Employers offer the plan because their contributions are tax-deductible, and the plan acts as an employee incentive.

Employee contributions are invested in preselected investments offered under the plan and when they are, employers often match a percentage of the contributions. For employees, it’s an easy way to save for retirement or other goals