This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Workplace Health Benefits Programs Becoming More Accessible For Canada's Smallest Employers

Stocks in this article: MFC

TSX/NYSE/PSE: MFC    SEHK:945

WATERLOO, ON, July 17, 2013 /CNW/ - A new benefits product introduced by Manulife Financial this week will help make workplace health benefits programs more accessible and manageable for the country's smallest employers.

Manulife Financial's LaunchPlan was created to meet the specific needs, priorities, and concerns of small business owners - those with two to nine employees. The new plan complements a growing small business-focused product shelf from Manulife Financial. LaunchPlan is designed to protect small employers from the unpredictability of health benefit costs, keeping the coverage affordable over the long-term.

"Small businesses are a critical part of our economy, employing millions of Canadians," said Marc Avaria, Vice-President, Group Small Business for Manulife Financial. "We're in the business of helping Canadians prepare for their futures and one of the ways that we're doing that is by making it as easy as possible for all Canadian employers - no matter what their size -  to provide their employees with access to valuable and meaningful health care coverage."

Small business in Canada is vitally important. According to Industry Canada 1, 98 per cent of all companies with employees in Canada are considered small businesses and they employ nearly half (48 per cent) of the working population 2.

"Many small businesses in Canada don't have group health benefits. Small business owners in Canada certainly understand the value and advantages of having a group benefits plan, but they might be under the impression that it's too expensive to maintain or too complicated and difficult to set up and administer," added Mr. Avaria. "This product's stable pricing makes it a great fit for small companies. It's also an extremely simple and affordable plan design that owners and plan members can easily understand and use."

In surveys conducted on behalf of Manulife Financial, small business owners indicated that cost and time are two important considerations that influence their decisions around health benefits plans 3.  As Mr. Avaria noted: "Now, the advisors who work with these owners have a simple, straightforward plan to recommend, putting health care benefits within reach for the country's smallest employers."

The LaunchPlan has the potential to provide valuable health coverage to more Canadians. "This plan gives even the smallest employers a tool that will help them attract the best performing staff members," Mr. Avaria said. "And it gives those workers more incentive to start and stay with the company."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs