May 2017 - Dehoney Financial Group

Government of Saskatchewan imposes PST on insurance premiums effective August 1, 2017

12:05 pm
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The Government of Saskatchewan will impose a 6% PST on all insurance premiums with an effective date on or after August 1, 2017. The original effective date for the application of the Provincial Sales Tax (PST) was July 1, 2017, but was extended to August 1, 2017, to provide additional time for implementation. The PST of 6 per cent impacts employers with employees in Saskatchewan and applies to the following:

Self-insured group benefit arrangements, also known as Administrative Services Only (ASO) arrangements
New individual permanent life insurance policies, including whole and universal life insurance, effective after […]

OHIP+ is good news for Ontario-based businesses arriving January 1, 2018

11:42 am
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Given the rising cost of specialty prescription drugs and increased use of paramedicals, Ontario businesses who sponsor an employee benefit plan are finally receiving some good news. With the April 27, 2017, announcement by Ontario’s Ministry of Finance, introducing free prescription drug coverage (OHIP+) for everyone aged 24 and under, a plan sponsor’s bottom line will improve.

How will plan sponsors benefit?

A lower number of claims – although children comprise a relatively low percentage of the overall drug spend, drug claims will drop. ClaimSecure recently analyzed the claims data of […]