Taxation of Group Benefit Plans

Based on federal government legislation

Looking at Benefit Plans for your business?

Health and Dental Premium Relief Extended for June

The health and dental premium reduction we provided to plan sponsors for April and May gave relief in real-time. In implementing this, it reflected the anticipated decrease in plan member health and dental claims due to pandemic closure of service providers. We...

COVID 19: Support For Small Businesses In BC

Small Business BC Support For the latest information on small business supports, resources and advisory services during COVID-19, please visit Small Business BC. Advisors are ready to help by phone at 1-800-667-2272, email and daily digital meetups. See how COVID-19...

Prescription Drug Costs Breakdown

Understanding the total cost of a prescription drug claims means learning the 3 main components: 1) Ingredient Cost Actual cost the pharmacy pays the drug company or wholesaler to buy the drug. 2) Pharmacy Markup Percentage charged to cover the expenses involved in...

Why we ask for detailed quote information

Why Ask For Detailed Quote Information?

Why we need detailed quote information from your current plan? Detailed Quote Information tells us a story, enabling us to create the right solution Getting involved in a Group Benefits program is different than purchasing a commodity. Most consumers are...

Non Evidence Maximums for Long Term Disability plans

ClearBenefits.ca is pleased to announce new Non-Evidence Maximums (NEM’s) for Long Term Disability in our Pooled Programs. The following enhanced LTD Non Evidence Maximum table applies to new business in both our Essentials and Lifestyle programs: ...

Medical Cannabis Coverage

Groups with over 100 lives can request to add medical cannabis coverage to their Extended Health coverage. Medical Cannabis Coverage In October of 2018, recreational marijuana will be legalized in Canada. The legalization of recreational marijuana has sparked a...

Experience-Rated Program: Finding Facts

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ClearBenefits.ca Pooled Programs – YTD Performance

We just completed our monthly review and thought I would share an update on the YTD performance of the pool: Fiscal year-end: Nov 30 Renewal rate implementation: June 1 As of August 31, 2018 we are 9 months into our fiscal year Claims are below target for...

	Employer Pays Premium	Employee Pays 100% of Premium
Life Insurance & Dependant Life	Benefit is tax-free Premium is a taxable benefit for the employee (added to employee’s T4)	Benefit is tax-free Premium is not taxable
AD & D	Benefit is tax-free Premium is a taxable benefit for the employee (added to employee’s T4)	Benefit is tax-free Premium is not taxable
Short Term Disability	Benefit is taxable to employee (benefit amount would be received upon claim payout) Premium is not taxable	Benefit is non-taxable to employee Premium is not taxable
Long Term Disability	Benefit is taxable to employee (benefit amount would be received upon claim payout) Premium is not taxable	Benefit is non-taxable to employee Premium is not taxable
Critical Illness	Benefit is tax-free Premium is a taxable benefit to employee (added to employee’s T4)	Benefit is tax-free Premium is not taxable
Extended Health Care	Benefit and Premium are tax-free	Benefit and Premium are tax-free
Dental Care	Benefit and Premium are tax-free	Benefit and Premium are tax-free
EAP (Employee Assistance)	Benefit and Premium are tax-free	Benefit and Premium are tax-free
Second Opinion Consult	Benefit and Premium are tax-free	Benefit and Premium are tax-free

Taxation of Group Benefit Plans

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