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Group Insurance (5)
According to the CRA rules, these types of purchases would become a taxable benefit to the employee, and the employee would have to pay income tax on these when they file their tax return.
Eligibility for employees is generally based on the number of hours worked per week. The minimum most insurance companies use is 20 hours per week. And you cannot discriminate between which part-time employees you want to put on the plan.
A Health Spending Account is 100% contributed to by the Employer, and the employer cannot discriminate between employees. An Employer can, however, offer a Health Spending Account to only certain classes of employees. For example, management-only or salaried, versus hourly paid employees.
Not all group insurance carriers are clear about this in their policy wording, however, most companies have a “stability of health” clause in them. If there has been any change to your health within 90 days of your travel departure date, it would be prudent for you to call the Travel Assist provider who’s behind your group travel insurance benefit and ask for clarification.
Generally “stable” means within 90 days preceding your departure your pre-existing condition(s) has been controlled without any change in medication, dosages or frequency. Any new medically diagnosed conditions within the same 90-day period would also not be covered. This includes any tests, investigations or scheduled exploratory surgical procedures.
This question generally comes from “first time” buyers of group insurance and the answer is, NO. For the most part, group insurance is a 30-day contract. Whenever you pay your premium you’re basically saying to the insurance company “I’ll stay with you for another 30 days.”