Flexible, tax-efficient employee benefits designed for Ontario businesses of every size – from sole proprietors to growing teams.
Many small business owners believe comprehensive employee benefits are only for large corporations — but that’s a myth. Group benefits on an individual basis let companies of any size offer health, dental, disability, and life insurance coverage through structures that are cost-effective and tax-efficient.
At Nova Star Insurance Consultants in Richmond Hill, Ontario, we work with business owners across the Greater Toronto Area to design customized benefit programs that attract top talent, improve retention, and protect both employees and their families.
Offering employee benefits isn’t just a nice-to-have – it’s a strategic investment in your company’s most valuable asset: your people.
Attract & Retain Top Talent: Competitive benefits packages are among the top factors candidates consider when evaluating job offers. Stand out in today’s tight labour market.
Improve Employee Morale & Productivity: Employees who feel supported are more engaged, take fewer sick days, and perform at a higher level – directly impacting your bottom line.
Financial Security for Families: Group benefits protect employees from unexpected medical costs, disability, and loss of income – reducing financial stress and improving focus at work.
Tax Advantages for Employers: Many group benefit premiums are tax-deductible business expenses, making it a smart, cost-efficient way to compensate your team beyond salary.
We offer a suite of individual-based group benefit solutions tailored to your business size, industry, and budget. Each plan can be customized and combined for comprehensive coverage.
A well-designed group benefits plan typically includes several layers of protection. Nova Star helps you choose and combine the right components for your team.
Group benefits on an individual basis allow small business owners and their employees to access health, dental, disability, and life insurance coverage similar to large-group plans – but structured flexibly to suit companies of any size, including sole proprietors with no other employees.
Most Canadian businesses can qualify, including small businesses, incorporated self-employed individuals, and corporations with one or more arms-length employees. Nova Star will assess your specific situation and recommend the most suitable structure for your business.
A Health Spending Account is a CRA-approved arrangement that lets incorporated business owners pay for eligible medical and dental expenses through the corporation as a tax-deductible business expense. This effectively converts what would be an after-tax personal cost into a pre-tax business cost – a significant tax advantage.
Under a Cost Plus arrangement, the employer pays for eligible health and dental expenses submitted by employees. These expenses are processed through a third-party administrator and treated as a deductible business expense. It gives employers full control over their benefits budget with no premiums or surprises.
No – that’s one of the biggest misconceptions in employee benefits. Many group benefit structures, including Health Spending Accounts and Cost Plus arrangements, are specifically designed for small businesses and even single-person corporations. Nova Star specializes in finding flexible solutions that work for businesses of every size.
Speak with a Nova Star Insurance consultant today to explore group benefits options tailored to your Ontario business. No obligation – just expert guidance.
