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How to Solve Complex Disability Management Issues in Indigenous Organizations?

How to Solve Complex Disability Management Issues in Indigenous Organizations?

It is no secret to employers that managing short-term, long-term, and occupational disability, as well as other absence-related matters, can be overwhelming – even at the best of times. It is not uncommon for a seemingly simple case to quickly develop into a much more complex and challenging one, for even experienced HR or health & safety professionals. Entrusting your disability claim management to experts in the field alleviates the administrative burden from your organization while guaranteeing exceptional results.

From the onset of a claim through to its conclusion, Disability Management Companies (DMC) proactively manage occupational, non-occupational injuries and illnesses with personalized recover-at-work solutions.

The following benefits are usually provided to our clients through our third party disability management providers:

  • A collaborative review of your company’s return-to-work policies and procedures to ensure best practices are in place. This includes establishing/understanding job demands, modified duties and developing comprehensive “Employee return to work” plan development for current and future use.
  • Management, record-keeping and constant stakeholders communication from onset of a disability to its conclusion.
  • Comprehensive custom reporting includes, but is not limited to, claims activity reports, trend analyses, cost projections, forecasts and annual report summaries.

“ Unfortunately, waiting for appointments and diagnostic procedures is standard practice in Canada’s public health care system. Disability Management services can alleviate the administrative burden from your organization while guaranteeing exceptional results.

At Eagle Bay Financial Services, we believe the key to reducing cost and lost time by prioritizing your organization and employees is critical for effective health management. Your team members` speedy recovery directly translates into an early and safe return to work.

Unfortunately, waiting for appointments and diagnostic procedures is standard practice in Canada’s public health care system. In response to this barrier, we would like to introduce you to one of our Disability management partners, TeksMed!

TeksMed Services Inc. is an industry leader with over 25 years of disability management experience. TeksMed offers Expedited Health Care with occupational and non-occupational programs at no additional cost. Early access to health care prevents any delays to diagnosis and treatment, which could otherwise impede the employee from returning to work safely and swiftly.

With this exceptional solution, your team will enjoy accelerated access to free diagnostic scans and specialist appointments. They will be supported throughout their recovery and receive additional coverage for services such as MRIs, CT scans, and specialist consultations. 

 

In addition to the disability management programs, TeksMed also offers several wellness solutions for organizations to support their employees before absences occur:

QuikCare Thrive is an app-based mental wellbeing program that was developed to help employees build resilience to stress. Users can access mental health support, information and coping techniques anytime and anywhere.

QuikCare Platinum is an employee benefit that can help workers avoid taking time off work by giving them expedited access to health care. Should one of your employees be suffering from a medical condition causing them stress or, perhaps, worry is developing into something that may require a leave of absence, TeksMed can proactively intervene to arrange for diagnostic scans or specialist appointments in a mere matter of days.

We are thrilled to have a strong relationship with TeksMed and happy to offer their services to our valuable clients. TeksMed shares our commitment to expert knowledge, unparalleled services, integrity, and confidentiality. We would like you to see the return on investment through reduced time loss and administration costs in your Indigenous organization.

Inspired by a never-ending quest to be the best, TeksMed continues to set the standard and raise the bar for integrity, innovation and exceptional service. For more information, visit www.teksmed.com.

To get started, contact our Account Managers Jenny Kellet or Denise Perry.

Jenny Kellett

Account Manager

Group Benefits

Denise Perry

Account Manager

Group Benefits

Canada Life Introduces RESP for Group Plan Members

Canada Life Introduces RESP for Group Plan Members

Canadians want to give their children a better future and send them to post-secondary education; however, paying high tuition fees makes learning a privilege and put a lot of financial stress on families.

According to Statistics Canada 2019/2020 data, the average tuition cost for Canadian undergraduate programs was $6,463. This number is estimated to go up to $6,610 in 2020/2021. Families struggle to make ends meet and experience challenging times to reach their retirement goals.

 

RESP(Registered Education Savings Plan) is one of the most powerful savings tools available to families hoping to avoid or minimize student debt. As an employer, you can show support to your employees by adding Canada Life’s new self-directed registered education savings plan (RESP) to your existing Canada Life group benefits or retirement and savings plan with no cost to your business.

“ As of November 1, 2020, Canada Life’s first fully digital employer-sponsored RESP started helping employees advance their long-term savings goals! 

How Does Canada Life‘s Group Plan RESP Work?

The contributions are placed into a fund designed to lower the risk of a potential decrease in value as students get closer to starting post-secondary education.

In addition, contributions, potential investment growth and compound interest will grow tax-free until the beneficiary withdraws funds to register at a qualifying educational program.

When the time comes, filling up simple forms and a streamlined withdrawal process will release the funds to the beneficiary.

How Your Employees Will Benefit If You Decide to Add RESP to Your Existing Canada Life Group Benefits or Retirement Plan?

Many Canadians think an RESP is more complicated than coordinating after-school activities.

With Canada Life’s new self-directed registered education savings plan, your employees will;

  • Gain access to traditional RESP advantages like applicable government education grants and tax-sheltered earnings on contributions including Canada Education Savings Grant (CESG) and Canada Learning Bond (CLB),
  • Benefit from Canada Life’s low investment fees,
  • Have convenient payroll deduction, pre-authorized debit or online banking bill payment,
  • Have the ease of fully digital experience,
  • Have the flexibility to choose either the family or individual plan,
  • Family and friends can also make direct contributions.

How to Add RESP to Your Existing Canada Life Group Benefits or Retirement plan?

If you are an employer or a Plan Administrator, please contact your Account Manager at Eagle Bay Financial Services and add the RESP option to your group benefits or retirement and savings plan.

The rest is simple; plan members need to sign up online, and they are all set!

 

When the time comes, it will be easy to withdraw the money for children’s education, and your employees will appreciate that you had the foresight to plan for their future.

This document is adapted from;

* Canada Life blog article “Canada Life’s new RESP employee benefit to help Canadians save for children’s post-secondary education” on October 15th, 2020.
** Canada Life’s email communication “Introducing registered education savings plans for group plan members” on September 14th, 2020.

Health Insurance for Seniors | Invitation for Victor Insurance’s 2020 Open Enrollment

Are you an Indigenous Elder, considering purchasing additional health & travel insurance at age 60?

You are not alone!

 

The older we get, it gets harder to afford proper healthcare. Hidden healthcare costs can be shocking for many retirees since ageing comes with the additional risk of falling sick. Especially if you have a chronic medical condition requiring regular prescriptions, it makes sense to purchase that health insurance.

From September 1 – October 31, 2020, Victor Insurance is accepting all health, dental and annual travel plan applications for anyone aged 50–75, with no medical questions. Applicants do not require previous health care coverage to enroll either.

 

“This is a unique opportunity with limited-time for enrollment. ”

Here is Why?

    • Typically, when you retire, you live on a fixed income.
      If you don’t have insurance, through an individual or a spouse’s group policy, it will be risky to face unexpected healthcare costs without the safety net.
    • If you don’t have enough savings and have recurring medical expenses, you may not be able to take care of all of your spending out-of-pocket. With additional health and travel insurance, it makes sense to have a piece of mind and offset these costs even if they fall outside the provincial and government plans.
    • You do not need to have an existing health care coverage to enroll.
    • You won’t need to fill out a medical questionnaire.
    • It is quick and takes less time to get it approved.

Are you already a Victor policyholder?

It is great!
If you like, you can add dental and/or annual travel coverage to your existing health care plan. You can also add coverage for your spouse, to keep him/her protected.

We know that finding the right insurance solution can be daunting for our Elders.

At Eagle Bay Financial Services Ltd., we have established long-term, stable relationships with Canada’s top insurers. We can quickly compare rates, and our experienced financial advisors can find the right fit for you.

Contact our financial advisors to help you determine your needs & build a plan for you and your family’s needs.

New Covid-19 Protocol

New Covid-19 Protocol

“ We are conducting a simple screening questionnaire to reduce the potential risk of exposure of COVID-19 to our team members and visitors. ”

Dear Clients,

As the COVID-19 restrictions begin to ease off, we are slowly opening our doors to serve you.

To reduce the impact of COVID-19 outbreak conditions on our businesses, among our employees and customers, it is essential to comply with the social distancing policies.

We are paying close attention to regulations and guidance issued by federal and local government agencies.
We encourage everyone to follow the best practices for minimizing the spread of COVID-19. Therefore, we implemented Basic Infection Prevention Measures to increase the physical distance among our team members and clients.

 

Prevention Measures

  • We are only accepting clients with appointments.
  • If you are sick or showing any illness symptoms, travelled recently or have been in contact with anyone who is ill, kindly cancel your appointment.
  • We promote frequent and thorough hand sanitizing for our team members and customers.
  • We maintain regular housekeeping practices, including routine cleaning and disinfecting of surfaces, equipment, and other elements of the work environment.
  • We provide our clients with tissues, face masks and trash receptacles.
  • Please keep your distance with our staff and other customers at least 2 meters apart at all times.
  • If you are visiting our office, our staff will ask you these questions upon your arrival;
  • Have you been required to self-isolate for any reason?
  • Have you travelled outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who has returned from travelling outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who is now in quarantine or self-quarantine?
  • Have you been in recent contact with anyone who is now feeling ill?
  • Are you feeling ill in any way?

We sincerely thank you for your continued support during these difficult times – and staying connected while we were apart.

Best Regards

Eagle Bay Financial Services Ltd.

COVID-19: Support Options For Economic Development Corporations & Indigenous Businesses

Shortly after the World Health Organization (WHO) declared the COVID-19 a global pandemic on March 11 2020, the Government of Canada shut down the economy to combat the spread of Coronavirus.

Like many other businesses, First Nations Development Corporations, Medium and Small-sized non-essential companies took a big hit; revenues and sales dropped significantly. Some organizations had to layoff employees, and others had to close their businesses permanently.

 

On March 18, 2020, to minimize the financial impact of COVID-19, the federal government announced its $82B COVID-19 Emergency Response Package for individuals and businesses struggling with the economic effects of the Coronavirus.

 

If your business has been facing financial difficulties due to the pandemic, we suggest you review the list below that summarizes different types of financial support that are available to your Indigenous business due to COVID-19. It is an excellent source of information that is compiled by the Aboriginal Financial Officers Association of BC(AFOABC).

[wptb id=215572]

*Eligible employees are individuals employed in Canada during the claim period except if there was a period of 14 or more consecutive days in that period where they did not receive any pay from you. Employee eligibility is based on whether the person is employed in Canada, not where they live.

**Eligible remuneration is salary, wages and other taxable benefits, fees and commissions. Severance pay and items such as stock option benefits or the personal use of a corporate vehicle are not part of eligible remuneration.

Information in this table has been gathered from https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Still have questions?

If you need more information, please visit Canada’s COVID-19 Economic Response Plan and read more detailed information about the financial support options that are available to your business.

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