Emergency Coverage: In-Province & Out-of-Province
In order to provide comprehensive coverage for your clients benefit plan, HUB Financial Inc. in conjunction with SSQ Insurance offers supplementary coverage to all FlexSave™ applicants. For a minimal cost, this coverage provides your clients with protection should a catastrophic medical event occur either in province or while traveling. These products are exclusively for FlexSave™ clients.
The coverage is in no way meant to replace traditional insurance. The In-Province Catastrophic policy includes a pre-existing condition clause unless there are 10 or more employees covered under the policy. The Travel policy does not include a pre-existing condition clause.
1. Travel Component1:
If your clients and/or your clients covered dependents require medical or surgical treatment outside of your own province of residence, this policy will pay certain covered expenses to a maximum of $2,000,000.
There is no deductible associated with this component, however, is limited to a maximum trip length of 60 days.
2. In-Province Catastrophic Component1
If your clients and/or your clients covered dependents require medical or surgical treatment due to injury, sickness or disease in their province of residence, this policy will pay for the following covered expenses after they have satisfied the deductible - $1,500 per person. The plan will then cover up to $25,000 per category expense up to a combined maximum of $125,000 annually subject to a total lifetime maximum of $250,000. The applicable categories are as follows:
a) Semi private hospital room and board
b) Private nursing (ordered or prescribed by a Physician)
c) Prescription drugs, sera and vaccines
d) Ambulance (including air)
e) Services of specific licensed practitioners
f) Rental of durable medical equipment
g) Accidental Dental coverage
1Please refer to the contract for full details of benefits and restrictions.
A Wellness Plan is a separate benefit category within a FlexSave™ account and has its own limit/amount of benefit. The Wellness Plan shares the same benefit period, unused benefit option and co-pay structure as the main FlexSave™ plan. Adding a Wellness Account to FlexSave™ provides plan flexibility allowing employees to:
• Enhance and maintain personal health and wellness
• Pay for expenses not on eligible expense list, or those removed from list by CRA
• Pay for expenses above main plan limits
Wellness Account Categories
Adding a Wellness Plan expands the expense categories in the plan to include things like:
• Health and wellbeing – i.e. naturopath, smoking cessation
• Fitness activities – i.e. gym membership
• Fitness equipment
• Family care/child care
• Professional services i.e. health assessments/health care
Taxation of Wellness Benefits
Wellness reimbursements to an employee are considered a taxable benefit to that employee. As such employers must provide totals on the employee T4.
Wellness Account Reporting
In order to provide employers with the information necessary to report a taxable benefit on their employee T4, HUB Financial will provide an annual report of all Wellness claims paid for employees. This report will be automatically generated at the end of each calendar year.