Acquiring a business can be an exciting endeavour!  When you go through the acquisition process, it is important to ensure your new, Canadian employees are transitioned smoothly. Four things to keep in mind are: Offer Letters- Employment Contracts: Ensure that they are compliant with Canadian federal and provincial labour legislation and are reflective of your organization’s culture. Setting a clear expectation at the outset of your relationship with your new employees will go a long way in helping them feel good about the changes that are taking place. Payroll: If it’s possible, choose to keep the same pay cycle or one that is very close to the current set...

Benefits fraud is often viewed as a victimless crime, one that affects large insurance companies rather than individuals.  However, this is not the case when you consider that an increase in benefit plan claims will result in an increase in your benefit rates.  Also, if the claims usage is causing premium rates to increase, an employer may look at limiting or reducing the paramedical coverage (i.e., chiropractor, massage therapy, acupuncture, physiotherapy etc.) to help with cost containment. Benefits fraud can be as simple as a plan member submitting a claim for a massage they did not receive or increasing the dollar amount of the massage.  It can also...

Now that we are in a new fiscal year, it time to start thinking about maximizing your Annual Registered Retirement Savings Plan (RRSP) contribution for 2016.   For those that are not aware, you can make an RRSP contribution anytime throughout the year, or up to 60 days into the following year.  The deadline to make contributions for 2016 is March 1st, 2017. However, before you start making a lump sum contribution you must be aware of your “Contribution Room” limit. So what is a Contribution Room Limit and where do I find it? In Canada there are limits on how much an individual can contribute each year into...

While you were rushing around picking up school supplies, new school clothes, indoor shoes and lunch kits did you remember to book your child’s annual eye exam? Your child should have a routine eye exam before starting kindergarten, then every year throughout their school years. Most learning in school is visual and you need to ensure that your child can see what is being taught, see the board at the front of the class and be able to read books clearly. Most provincial health care plans cover the cost of eye exams for children. The following are some of the signs and symptoms you should keep an eye...

What is your financial retirement goal? How much money will you need to save for your retirement goal? There are numerous investment options you can use in order to achieve your retirement goal. The Tax-Free Saving account (TFSA) is one option that people can take advantage of. TFSAs are a good option for retirement savings and also for short and long term goals. The TFSA allows your investment to grow tax-free, while you are able to withdraw cash without any tax implication. Here are some benefits of investing in a TFSA: Any Canadian resident age 18 and older with a Social Insurance Number can contribute up to $5,500...

Both citizens and residents of Canada are lucky enough to be able to access a comprehensive public healthcare system. The public health system was founded based on the following key principles in the Canada Health Act: -          Comprehensive – Outlines those services which must be provided under the public health system; -          Universality – States that all insured services must be provided on uniform terms and conditions; -          Portability – Allows for persons travelling outside of their home province to maintain coverage, and provides a starting part to determine which province will provide coverage when needed; -          Public Administration – States that the plans must be administered on...

We have life insurance, group RRSP’s, pensions, group retirement services, and other savings to help protect our loved ones in the event that something happens to us…but do you know who is listed as your current beneficiary on these policies? Many of us set the beneficiary designations when we initially enroll or sign up for group RRSP’s, group retirement services, and other programs, and then we tend to forget about them. However, LIFE HAPPENS! We all encounter many changes throughout our lives and we need to be aware that these changes should be reflected in who we want as beneficiaries in the event something dire should happen. It...

As we all take on more responsibility both at work and in our personal lives, there are pressures that continue to mount. Under certain circumstances, these pressures can build to a point where the activities of everyday life can become too difficult. In some cases, these stresses may leave an individual unable to work which could result in a disability claim and use of workers compensation benefits. Knowledge regarding the importance of maintaining mental health and wellbeing is becoming more common and emphasized in group benefits plans and health and dental insurance plans. Individuals, and the companies that they work for, have placed renewed significance on work-life balance,...

Lately, the group benefits team at PEO Canada has been quite busy with the amount of disability claims coming our way as part of our health and dental insurance. Some of these claims have raised eyebrows from international employers as some do not have the knowledge or understanding of the “rules and regulations” behind group benefit claim management and privacy. The rising costs of absenteeism and disability have compelled many organizations to put a new emphasis on actively managing disability claims and in their organization. More often, this leads to a high level of frustration on the employer’s part as all medical information is considered confidential. For my...

  Businesses need to provide the right health and dental insurance and group benefits plans for their valuable employees. Small business health insurance plans are important in Canada and help with employee retention. But there is more to health and wellness than a great group benefits plan. To supplement your company’s group benefits or health and dental insurance plans, healthy eating is a great place to start.   The best form of a health and dental insurance plan is prevention. This paired with great group benefits leads to happy and healthy employees. A simple way to begin eating healthy is to eat more vegetables and fruit with a...