Do you share the cost of your benefit plan (through payroll deduction) with your employees? Employees who share the cost of their health and dental premium are entitled to claim their contribution amount on their annual tax return. The portion deducted from employees should be reported annually in box 85 on your employees T4. The [...]
Disability incidence rates have increased continually over the past 5 years. This incidence trend, which is the rate at which new claims are changing compared to the past, is industry wide and affects everyone. Based on published reports from industry leaders, Manulife and Sun Life, current Long-Term Disability (LTD) pricing, is not reflective of this [...]
Cassandra Williamson-Hopp | May 15, 2020 - Benefits Canada Quotes from Chris Pryce - Human Capital Benefits In the midst of the coronavirus crisis, virtual health care is taking center stage. But Ontario Power Generation was ahead of the curve, introducing a pilot project in 2019 to help employees with high mental-health incidences and absenteeism [...]
Although dental coverage today is different from true “insurance”, in that the plan sponsors pay for all the claims members use, plus an administration fee to the Insurer, dental coverage is viewed consistently as one of the most important and highly desirable aspects of an employee benefit plan. Recently, dentistry has been under scrutiny. Insurers [...]
With the drug plan landscape continuing to shift and the idea of sustainability hanging in the balance, managing costs and value for the plan members is what is ultimately at risk. The 2019 Canadian Leadership Council on Drug Plan Partnerships recently hosted a roundtable discussion on the drug benefit and how it is an ongoing [...]
