7 - What About Government Insurance? Flashcards
What are the 3 benefits that CPP/QPP provides?
- Retirement Benefit
- Death Benefit
- Suvivor Benefit
What are the 3 government-provided disability insurance plans?
- Canada Pension Plan (CPP)/Quebec Pension Plan (QPP)
- Veterans Affairs
- Employment Insurance (EI)
Define “Pensionable Earnings.”
A range of income on which CPP/QPP contributions were made.
What is CPP’s definition of disability?
Physical or mental disability must be both severe and prolonged (prevents return to work within 12 months or likely fatal).
What 4 things does EI provide benefits for?
- Unemployment
- Maternity/Parental Leave
- Sickness
- Compassionate care
What percentage of average earned earnings is EI based on?
55% to a maximum of $468/wk (2011)
What are the 5 things EI benefits will be reduced by?
- Employment income
- Workers’ Compensation benefits
- Group disability plan benefits
- CPP disability pension
- Pension income
What is “Workers’ Compensation?”
Available for employees injured on job. Premiums paid by employer. pays up to 90% pre-disability take-home pay. Benefits non-taxable.
What are the 6 basic medical services covered by Provincial health insurance?
- Treatment/services by MD
- Hospital treatment & services prescribed by MD
- Hospital & chronic-care facility stays
- Medically required dental surgery
- Prescription drugs for seniors
- Others unique to individual circumstances and provin. plan provisions
What are the 5 medical services not covered by Provincial health insurance?
- Charges by MDs for transferring files, telephone consultations, and physical exams required for school, camp, or work
- Semi-private/private rooms, private-duty nursing, & ambulance services
- Elective cosmetic surgeries
- Dental services only covered in hospital for fractures/jaw reconstruction
- Prescription drugs & medical appliances (braces, splints, etc.)
