Blog Category: Chambers of Commerce Group Insurance Plan
As you may have read in the Chamber’s January 24th NewsFlash, the Federal Government is considering taxing employer contributions paid into group benefit plans. Although they have not yet confirmed their intention to proceed with this measure, and details have yet to be disclosed, the insurance industry and advocacy groups have reason to believe it’s more than a possibility and will be announced with the Liberal’s Spring 2017 Federal Budget. (more…)
In recent years prescription drug trend factors (inflation and pricing) have come down in Ontario and some other provinces. This is due to the implementation of generic drug price reforms that were legislated by Provincial Governments and were phased in over a 3 to 4 year period of time in several provinces. A second reason these decreases have been realized is the patent expiry of some extensively prescribed high cost drugs. One such drug was Lipitor and it is used to treat people with high levels of cholesterol. (more…)
Long Term Disability (LTD) premiums are waived by group insurance companies for employees with a disability once they have been off work for a period of 6 months. The Life insurance premiums can be waived too after 6 months and typically are for employees with a disability who have serious health conditions.