Morn.Pension Flashcards
Briefly explain the primary objective of the Canada Health Act (Hint = PPR)
Protect, promote, restore the health of Canadians without financial or other barriers
Identify 5 conditions for province to receive unreduced funding under Canada Health Act (Hint = CUPPA)
- COMPREHENSIVE: covers all hospital & medical services
- UNIVERSAL: covers all eligible residents
- PUBLIC: requires administration by non-profit public authority
- PORTABLE: between provinces
- ACCESSIBLE: uniform terms & conditions for all eligible residents
Identify 4 methods that provinces use to raise balance not covered by federal transfer payments for medical programs
- Direct cost-sharing by residents & employers (Ex: ON)
- Payroll tax (Ex: ON)
- General revenue (Ex: NB)
- Tax on group insurance plans (Ex: ON)
Identify 2 reasons for the inception of WC insurance
- COURTS: overwhelmed by rapid industrialization and workplace accidents
- VICTIMS: needed prompt medical & financial assistance
What is the underlying insurance principle of WC insurance
no-fault insurance
How is WC insurance funded
By the employer
Explain individual liability in WC insurance regarding:
a) operation
b) funding
c) where used
a) OPERATION: by WC boards
b) FUNDING: each employer is self-funded based on claims history
c) WHERE USED: public agencies
Explain collective liability in WC insurance regarding:
a) operation
b) funding
c) where used
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
Identify the 2 objectives of EI (Employment Insurance)
- Income replacement (temporary)
- Re-employment assistance
Identify 3 reasons why EI wouldn’t be viable without Govt involvement
- ADVERSE SELECTION: only those about to lose their jobs would buy it
- EMPLOYERS WOULDN’T CONTRIBUTE: they get no benefit (government
must mandate coverage) - COMPLEXITY: Govt already has necessary structures in place to facilitate
operations
Briefly describe 4 minimum requirements for an employee benefits plan to qualify for EI premium reduction.
- Employee benefits GREATER than EI benefits
- Benefits START in 15 days
- Benefits DURATION longer than 15 weeks
- Employee compensation NOT REDUCED even if additional EI benefits are given in same period
Briefly describe 3 circumstances under which a potential claimant will not qualify for regular EI benefits.
- Dismissal with cause
- Quit
- Strike