Employee benefits are a crucial part of compensation packages for companies recruiting and retaining top talent in Canada. With rising healthcare costs and an aging population, robust benefits plans are becoming more critical than ever for employees. Major insurance providers like Desjardins offer a range of benefit options to support Canadian workers’ health, wellness and financial security.

Desjardins (DFS) is one of Canada’s leading providers of group benefits plans, serving over 1.6 million plan members nationwide. With over 100 years of experience providing insurance and financial services, Desjardins has established itself as a trusted source for employee benefits among mid-size and enterprise companies.

In this comprehensive review, we’ll examine Desjardins employee benefits packages and additional services for employers and their workforce. Whether you’re looking to learn more about Desjardins as a potential benefits provider or how their plans compare to competitors, read on for a breakdown of their health insurance, retirement solutions, cost structure, and more.

About Desjardins

History and Company Background

Desjardins Group has a long history dating back to 1900, when it was founded as a cooperative financial institution in Lévis, Quebec. The company expanded across the province over the first half of the 20th century, eventually becoming one of Canada’s largest insurance providers.

2011 Desjardins acquired State Farm Canada’s property and casualty business, solidifying its position as a leader in group benefits with over 5 million members and clients nationwide. It now serves members and clients through its Caisse network in Quebec, insurance agents and brokers across Canada, and financial advisors with subsidiary Desjardins Financial Security.

DFS is a significant property and casualty insurer in Canada. It provides a diverse range of financial and insurance products, including loans and mortgages, investment solutions, and group benefits plans. The company positions social responsibility, cooperation, sustainable development, and ethics as its core cooperative values.

Services and Offerings

In terms of group benefits, Desjardins provides a wide range of insurance options, including:

• Health insurance (extended healthcare)
• Dental Insurance
• Short-term and long-term disability insurance
• Essential and optional life insurance
• Business travel insurance

Beyond standard benefits coverage, Desjardins also offers additional services for group plans, such as:

• Virtual healthcare
• Health spending accounts
• Wellness accounts
• Employee assistance programs
• Disability management

They also provide retirement savings solutions like group RRSPs, defined benefit pension plans, and deferred profit-sharing plans.

Locations and Reach

DFS has a major presence in Quebec, where it originated, but it serves members and clients in every province and territory in Canada. The company’s head office is located in Lévis, and its insurance operations center around offices in Lévis, Montreal, and Toronto.

Desjardins has a network of Caisse branches, agents, financial planners, brokerages and representatives nationwide. This provides national reach while still maintaining local service capabilities.

Company Culture and Values

As a cooperative financial group, Desjardins operates around the principles of social responsibility, collaboration, environmental stewardship, education, and cooperation. The company emphasizes values like integrity, transparency, and commitment to the community.

Desjardins focuses on providing a quality of life in the workplace and upholds diversity, equality, and inclusion standards. In 2020, the company was included among Canada’s Top 100 Employers, showcasing its commitment to employees. Focusing on corporate culture and social values helps strengthen Desjardins’ brand as a group benefits provider.

Desjardins Employee Benefits Overview

Desjardins provides comprehensive insurance coverage to support groups’ and their employees’ health, well-being and financial security. Here’s an overview of the main benefits offered:

Types of Benefits Offered

Health Insurance

One significant component of Desjardins group plans is supplementary health insurance to fill gaps in provincial healthcare coverage. Their extended health plans cover expenses like:

• Prescription drugs
• Paramedical services such as physiotherapy, massage therapy, chiropractic care
• Medical equipment and supplies
• Ambulance transportation
• Out-of-province emergency medical costs
• Private nursing, home care and convalescent care
• Accidental dental treatment
• Travel Insurance

Dental Insurance

DFS offers extensive dental coverage for routine preventative care and significant restorative dental work. Dental plans can include:

• Cleanings, oral exams and X-rays
• Fillings and extractions
• Root canals, periodontics, denture repairs
• Crowns, bridges and implants
• Orthodontic braces

Disability Insurance

Desjardins benefits packages also crucially include protecting income in the event of illness or injury. They provide both short-term and long-term disability options.

• Short-term disability replaces income for the initial weeks of disability
• Long-term disability provides ongoing income after short-term coverage ends
• Return-to-work and rehabilitation programs are also offered

Life Insurance

DFS delivers life insurance to support families in the tragedy of a loved one’s death. Life insurance helps cover funeral expenses, outstanding debts and daily bills.

• Term life insurance provides coverage for a set period
• Permanent life insurance lasts for life and builds cash value

Retirement Plans

Desjardins offers group RRSPs, defined benefit pension plans, and deferred profit-sharing plans (DPSPs) for retirement savings. These tax-advantaged programs help employees save and prepare financially for retirement.

Plan Options and Customization

One advantage of Desjardins group benefits is the ability to customize packages to meet the unique needs of different employee groups. Desjardins offers both Basic and Enhanced plan options for health and dental coverage so employers can find the right level of protection for their workforce.

For disability and life insurance, benefit amounts and plan terms can be adapted based on factors like employee income, age, gender and more. Desjardins also allows employers to provide plans based on class – for example, executives can receive enhanced coverage compared to hourly workers.

Online Portal for Administrators

DFS provides a web portal for group plan administrators with tools and resources to simplify benefits management. Key features include:

• Easy access to plan documents like member booklets and contracts
• Ability to add/remove dependents or make changes to coverage
• Integrated absence management for tracking disabilities
• Reporting on billing, claims, member demographics-
• Plan renewal management and online submission of renewal census
• Access to forms and administration resources

This online platform allows administrators to manage all aspects of their group benefits plan, from enrollment to reporting and renewals.

Additional Services

On top of its core benefits offerings, some of the additional services Desjardins provides include:

Fraud Prevention: Identifying and preventing fraudulent claims helps control costs. Desjardins offers plan sponsors reporting on potential fraud along with provider audits.

Disability Management: Specialists provide customized return-to-work planning for ill or injured employees that integrates treatment, workplace modifications and communications between employer, employee and healthcare providers.

Health Platforms: Digital platforms like Health is Cool provide health tips, tools and resources to support employee wellbeing.

Employee Assistance: Confidential counselling, financial planning support, legal advice and more for employees dealing with personal problems.

Virtual Healthcare: Fast access to doctors, prescriptions and referrals through online and phone-based platforms.

These extra services enhance the value of Desjardins benefits packages beyond just the insurance coverage itself.

Benefits Packages and Options

Let’s examine more closely some of the health, dental, disability, and life insurance products Desjardins offers as part of its comprehensive group benefits solutions.

Health Insurance Plans

DFS provides two primary levels of supplementary health insurance – Basic and Enhanced plans. This allows employers to select the right amount of coverage based on their benefits budget and workforce demographics.

Here’s an overview of some of the critical differences between Basic and Enhanced health plans:

Benefit	Basic Plan	Enhanced Plan
Prescription Drugs	50-80% coverage, $10,000 max	80-100% coverage, $10,000 max
Paramedical Services	$300-500 max per type	$400-700 max per type
Medical Supplies	50-80% coverage	80-100% coverage
Ambulance	$1500 max	$2000-$4000 max
Semi-Private Hospital	Not covered	100% coverage
Out-of-Country Medical	$5 million max	$5 million max

Both plans cover expenses like prescription drugs, dental expenses due to an accident, hospital accommodations, paramedical services, medical equipment, and travel insurance. The Enhanced plan increases reimbursement and includes additional benefits like vision care, convalescent home care and semi-private hospital room coverage.

Employers can further customize health insurance by adding options like:

• Increased coverage for high-cost prescription drugs
• Coverage for vaccinations
• Fertility treatments
• Expanded paramedical coverage

Desjardins health insurance provides comprehensive support for various medical costs and health services.

Dental Plans

Desjardins allows employers to add dental coverage to their benefits plans at two levels – Basic and Enhanced.

The Basic dental plan covers preventative services and restorative care, such as fillings and extractions. The Enhanced plan covers major dental work, such as crowns, bridges, implants, and orthodontic braces.

Here’s an overview of how the two plans compare:

Benefit	Basic Plan	Enhanced Plan
Preventative Care	80% coverage, 2 exams per year	100% coverage, 2 exams per year
Basic Restorative	50% coverage	100% coverage
Major Restorative	Not covered	50-100% coverage
Orthodontics	Not covered	50-60% coverage, $2500 max

Adding dental insurance provides essential coverage to maintain oral health and avoid major issues. Desjardins allows employers to select the level of dental care that fits their workforce needs and budget.

Disability Insurance

Protecting employee income in the event of illness or injury is a crucial component of benefits packages. DFS offers short-term disability (STD) and long-term disability (LTD) insurance.

Short-term Disability Insurance

Desjardins STD plans to replace 70-80% of pre-disability income in the initial weeks of disability. They offer options like:

• Waiting periods (elimination periods) of 8, 14, 30 or 60 days
• Benefit payment periods (maximum durations) of 12, 15, 26 or 52 weeks
• Taxable or non-taxable benefits
• Optional cost of living adjustments (COLA)
• Return-to-work bonuses

This coverage supports employees during the first weeks to months of recovery and until long-term disability benefits begin.

Long-term Disability Insurance

For ongoing income replacement, Desjardins provides long-term disability insurance with options that include:

• Waiting periods (elimination periods) ranging from 90 to 365 days
• Benefit payment periods (maximum durations) to age 65
• Non-taxable benefits
• Monthly payouts of 50-75% of pre-disability income
• Early intervention and rehabilitation programs
• Optional cost of living adjustments (COLA)

Having both STD and LTD coverage is critical to maintaining financial stability in the event of sickness or injury lasting weeks, months or years.

Life Insurance

Desjardins offers an array of term life and permanent life insurance that can be customized based on employee demographics and income levels.

Term Life Insurance

For coverage over a set period, Desjardins provides term life insurance with durations of:

• Ten years
• 15 years
• 20 years
• 25 years
• 30 years
• To age 65

Key features include:

• Renewability to age 85 on many policies
• Conversion privileges to extend or convert coverage
• Available coverage up to $20 million
• Joint first-to-die and last-to-die options

Permanent Life Insurance

For lifelong coverage, permanent life insurance options from DFS include:

• Basic permanent life with guaranteed acceptance
• Participating whole life with dividends and cash value
• Universal life with an investment component
• Final expense life insurance

These policies provide long-lasting financial protection along with tax-preferred cash value savings. Adding life insurance is an essential part of benefits packages, giving employees peace of mind their families will be taken care of.

Retirement Plans

Beyond health and life insurance, Desjardins also provides retirement savings options to help employees financially prepare for their golden years. Retirement plan choices include:

Group RRSPs: These tax-advantaged savings programs allow employees to grow their nest egg through employer and employee contributions. Desjardins offers investment management and ongoing tracking of savings amounts and fund performance.

Defined Benefit Pension Plans: Desjardins can establish customized pension plans for employer groups, with reliably fixed retirement benefits based on length of service and earnings history.

DPSPs: Deferred profit-sharing plans provide retirement income through employer contributions, typically calculated as a percentage of annual employee earnings. Contributions compound tax-deferred.

Providing retirement benefits helps attract and retain employees by giving them tools to save for the future while allowing them to benefit from tax reductions now.

Additional Perks and Services

In addition to the core insurance coverage in benefits packages, Desjardins includes several additional programs and services for comprehensive support.

Health and Wellness Platforms

Digital platforms like Health is Cool provide health tips, directories of medical resources and prevention programs to keep employees physically and mentally fit. This promotes productivity, reduces absenteeism, and helps control benefits and costs.

Employee Assistance Programs

Desjardins offers 24/7 phone counselling and in-person sessions to help employees deal with personal issues, including relationships, substance abuse, workplace performance, and more. These confidential programs provide support in times of stress or crisis.

Supplementary Products

Critical illness insurance and Best Doctors services can be added on to provide financial and healthcare support in the event of severe medical conditions like cancer, stroke or heart attack.

Virtual Healthcare

Desjardins now partners with health tech providers like Akira and EQ Care to offer virtual access to healthcare providers through secure messaging, video calls and app-based platforms. This makes care more convenient for employees.

These extra services work cohesively with the insurance benefits offered to encourage employee health, well-being and productivity.

Costs, Ratings and Reviews

Desjardins offers competitive premiums for group benefits plans based on factors like industry, demographics, coverage types and more. Here’s an overview of Desjardins benefits costs, customer service ratings, and testimonials.

Benefits Plan Costs and Premiums

For health and dental insurance, monthly premiums are determined based on:

• Benefit types and levels chosen
• Employee and dependent demographics like age, gender, smoking status
• Industry and associated risks
• Location
• Past claims experience

For life and disability insurance, premiums vary based on:

• Benefit amount and coverage terms
• Employee age, gender, salary, occupation
• Industry risks and hazards
• Prior disability experience

Desjardins prices for group benefits tend to be competitive compared to other major carriers in Canada. Bundling multiple policies together can allow for 10-15% discounts, lowering the total cost.

Customer Service Ratings

Desjardins maintains positive ratings for customer service, policyholder experiences and financial stability from independent rating agencies.

• A.M. Best Rating: A+
• Standard and Poor’s Rating: A+
• Moody’s Rating: Aa2
• J.D. Power Customer Satisfaction Score: 835 out of 1000

These scores reflect Desjardins’ strong reputation as an insurer and service provider based on metrics such as pricing, responsiveness, transparency, and more.

Pros and Cons of Desjardins Benefits

Here’s an overview of some of the critical advantages and potential drawbacks of Desjardins Group benefits packages and services:

Advantages of Desjardins Benefits

• Wide range of benefits beyond just health/dental, including retirement, life insurance, disability, virtual healthcare and more
• Significant customization is available for benefit types, levels, terms
• National reach combined with local support and service
• Positive reputation and ratings for pricing, claims processes and customer service.
• Extensive additional services like fraud protection, disability management and employee assistance
• Beneficial for employers seeking a full-service benefits provider and one-stop-shop

Potential Disadvantages

• Slightly higher premiums compared to some competitors
• Access to rates and applications requires calling a broker or representative; quotes and applications are unavailable online.
• Older technology systems compared to some newer digital-first competitors.
• Most expensive for small groups under 100 employees

Desjardins provides a comprehensive employee benefits package, but costs may be higher than those of some carriers. The trade-off is more customization options and hands-on support.

Conclusion

Finding the right benefits provider is critical to attracting and retaining top employees while optimizing costs for your organization. Desjardins is among the leading group benefits providers for mid-size to large Canadian companies with its comprehensive benefits offerings, customized packages, and additional services.

While premiums are higher, Desjardins allows employers to tailor coverage to meet their precise needs. This, combined with supportive programs for health, disability, and retirement, makes Desjardins a one-stop-shop for benefits, with the advantage of both national scale and local assistance.

Strong ratings for financial stability, claims processes, and customer satisfaction reflect Desjardins’ long-standing reputation with Canadian group insurance. While not the cheapest option, Desjardins brings expertise from over 100 years of experience, providing coverage and peace of mind to millions of plan members.

Visit Ebsource for more latest employee benefits news in Canada.

Article Sources

At Ebsource, our mission is to equip Canadians with complete and factual information to make prudent employee benefits and human resources decisions. We leverage seasoned financial experts’ insights to ensure our guidance reflects industry best practices. The statistics we reference come from trusted governmental and industry bodies, like Statistics Canada and the CLHIA, to guarantee accuracy.

Our advice stems from meticulous, unbiased research of major employee benefits providers in Canada. This allows us to tailor suggestions to individuals’ unique budgets and needs. Ebsource maintains rigorous standards of objectivity, transparency, and independence in all our content. We pride ourselves on furnishing counseling readers can trust by citing reputable sources and following editorial principles. As Canada’s most reliable outlet for employee benefits and HR news, we devote ourselves to empowering Canadians’ benefits choices.

Desjardins Life Insurance Review: Everything you Need to Know – policyme.com
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Desjardins Group Insurance: Detailed Guide – groupenroll.ca