Entrepreneurship & Small Business

Benefits purchase for family, self employed.

  • Last Updated:
  • Apr 15th, 2017 10:37 am
[OP]
Sr. Member
Dec 17, 2013
553 posts
222 upvotes
CALGARY

Benefits purchase for family, self employed.

Hello, I own a small business and my wife works for me. We have 2 kids and I recently quit my full time job where I used to get all the benefits. Now I am looking to buy one for myself and family. What are the decent companies that I can look to buy? Here in Alberta, Blue Cross is pretty famous and fairly cheaper. Does anyone has experience with it? How much does it cost for a family? Are there other better alternatives?
2 replies
Deal Fanatic
User avatar
Nov 19, 2004
6944 posts
830 upvotes
Cambridge, ON
Brock Health is good as a PHSP when you are self employed.
Deal Addict
Feb 29, 2012
1359 posts
612 upvotes
Richmond
You and your wife with dependents are probably too small a pool for most small business benefits insurers to be interested. That will limit the number of companies that will even give you a quote, and those quotes will probably be much higher than they would offer larger companies with a large pool including lots of young single employees who don't use the benefits.

You should ask yourself what benefits you are really after. It's understandable that you might want some protection against catastrophic low-probability occurrences like death/disability/critical-illness etc., but for routine benefits like health care/dental/eye care/pharmacy you have to assume that the insurer is simply going to charge you at least twice what it costs them. Paying an insurer to provide those benefits is a net loss.
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