Morn.Pension Flashcards

1
Q

Briefly explain the primary objective of the Canada Health Act (Hint = PPR)

A

Protect, promote, restore the health of Canadians without financial or other barriers

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2
Q

Identify 5 conditions for province to receive unreduced funding under Canada Health Act (Hint = CUPPA)

A
  1. COMPREHENSIVE: covers all hospital & medical services
  2. UNIVERSAL: covers all eligible residents
  3. PUBLIC: requires administration by non-profit public authority
  4. PORTABLE: between provinces
  5. ACCESSIBLE: uniform terms & conditions for all eligible residents
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3
Q

Identify 4 methods that provinces use to raise balance not covered by federal transfer payments for medical programs

A
  1. Direct cost-sharing by residents & employers (Ex: ON)
  2. Payroll tax (Ex: ON)
  3. General revenue (Ex: NB)
  4. Tax on group insurance plans (Ex: ON)
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4
Q

Identify 2 reasons for the inception of WC insurance

A
  1. COURTS: overwhelmed by rapid industrialization and workplace accidents
  2. VICTIMS: needed prompt medical & financial assistance
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5
Q

What is the underlying insurance principle of WC insurance

A

no-fault insurance

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6
Q

How is WC insurance funded

A

By the employer

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7
Q

Explain individual liability in WC insurance regarding:

a) operation
b) funding
c) where used

A

a) OPERATION: by WC boards
b) FUNDING: each employer is self-funded based on claims history
c) WHERE USED: public agencies

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8
Q

Explain collective liability in WC insurance regarding:

a) operation
b) funding
c) where used

A

a) OPERATION: by WC boards
b) FUNDING: each industry class (based on activity & risk) is assessed
collectively based on claims history
c) WHERE USED: non-public industries

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9
Q

Identify the 2 objectives of EI (Employment Insurance)

A
  1. Income replacement (temporary)
  2. Re-employment assistance
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10
Q

Identify 3 reasons why EI wouldn’t be viable without Govt involvement

A
  1. ADVERSE SELECTION: only those about to lose their jobs would buy it
  2. EMPLOYERS WOULDN’T CONTRIBUTE: they get no benefit (government
    must mandate coverage)
  3. COMPLEXITY: Govt already has necessary structures in place to facilitate
    operations
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11
Q

Briefly describe 4 minimum requirements for an employee benefits plan to qualify for EI premium reduction.

A
  1. Employee benefits GREATER than EI benefits
  2. Benefits START in 15 days
  3. Benefits DURATION longer than 15 weeks
  4. Employee compensation NOT REDUCED even if additional EI benefits are given in same period
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12
Q

Briefly describe 3 circumstances under which a potential claimant will not qualify for regular EI benefits.

A
  1. Dismissal with cause
  2. Quit
  3. Strike
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