- There must be a contract or undertaking
by one person to indemnify another.
- There must be an agreed to consideration
for benefits for whole or part of medical or dental expenses.
A consideration means either premium or deposits into the
plan (pre-payments)
- Regular premiums or deposits are to
be made towards unanticipated claims. Income Tax Ruling
ATR-8 (May 12, 1986).
- Only Hospital, Supplemental Healthcare,
and Dental claims can be paid out of the PHSP plans.
- Claims have to be adjudicated to ensure
proper payments, under section 118 (2) and/or IT519 qualify.
- Effective January 1, 2004, all plan providers
must adhere to the "Privacy Act of Canada" Pacific
First has adhered to the principles of this new act since
inception on January 2001.
Mandatory
Every eligible employee must be offered
benefits to be in compliance with the equivalency rules.
*Special consideration must be met for
Cost-Plus plans under these agreements. |
