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2023 median benefit costs way up (7.1%) but in line with long-term inflation

2023-09-05T15:08:02+00:00

Earlier this year, a timely article in Benefits Canada suggested that Aon plc had forecasted an increase in employer-sponsored medical benefits of 7.5% in 2023. At that same time plan sponsors had just been jolted by the release of a similar (8.5%) Ontario Dental Association fee guide increase for 2023. These were disconcerting figures, as health and [...]

2023 median benefit costs way up (7.1%) but in line with long-term inflation2023-09-05T15:08:02+00:00

Plan Administrators – Use Box 85, if you share premiums with members

2020-12-22T16:51:18+00:00

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 [...]

Plan Administrators – Use Box 85, if you share premiums with members2020-12-22T16:51:18+00:00
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