Group Benefits

WHAT IS FLEXSAVE? WHY FLEXSAVE? HOW DOES IT WORK? WHAT IS FLEXSAVE? FlexSave™ is a Private Health Services Plan (PHSP) that helps incorporated business owners and self-employed individuals with employees pay the health and dental expenses for themselves and their employees in a tax-effective and cost-efficient manner. FlexSave™ works very differently than traditional group or

A Health Care Spending Account (HCSA), also known as a Health Spending Account (HSA), is an individual employee account that provides reimbursement for eligible health care expenses or other benefits that are not covered under provincial health insurance plans or other benefit plans sponsored by the employer. A Health Spending Account can be implemented on

In law a trust is a relationship where property is held by one party for the benefit of another party. A trust is created by the owner, also called a “settlor”, “trustor” or “grantor” who transfers property to a trustee. The trustee holds that property for the trust’s beneficiaries. A trust is simply a mechanism by which assets can be held for the

Mandatory Contracts require 100% Participation of all eligible employees who are actively at work and satisfying the hourly requirements outlined in the booklet. Non Mandatory requires either 75% or 85% of all eligible employees. The plan administrator in this case is responsible for ensuring that 75% or 85% of all eligible employees are on the

We will begin by going through many of the most common beneficiary designations, show how they should look and point out some of the issues that can occur. Written By Mr. Ian Tod B.A.(Econ), MBA, CFP, CLU Advance Markets Specialist, HUB Financial IncShared By Deepak Jotwani, Director, Wescan Insurance Brokers Estate: We sometimes see the estate named