Forms and Links
Health Trust Forms• Claim Forms:
• Set Up Forms:
Employee Enrolment Form - each employee must complete this, including the business owner/sole proprietor
Stop-Loss Travel Medical Enrolment Form - each applicable employee must complete, along with the business owner (requirement for unincorporated business)
Credit Card Payment Form - to accompany Trust Application if paying Set Up Fee by credit card
Request for Direct Deposit (EFT) Form - to have reimbursements paid directly to your personal chequing account
• Administration and Change Forms:
Administrators Handbook - a reference guide for FlexSave™ plan administrators
Change Form - to change your address or update dependent status information
Employee Termination Form - complete this form to remove an employee from the Health Trust plan
• Optional Forms:
Pre-Authorized Debit for Health Trust Deposits Form - for companies that wish to pre-fund their Health Trust plan on a monthly basis
Pre-Authorized Debit for Stop Loss Monthly Premium Form - for individuals or companies that wish to pay stop/loss insurance on a monthly basis
HUB International Barton Insurance Brokers is western Canada's largest commercial insurance brokerage. As such they can offer a wide range of services such as:
- Automobile Insurance
- Homeowners Insurance
- Commercial Insurance
- Liability Insurance
- Marine Insurance
and many other products and services. You may contact them at:
HUB International Barton Insurance Brokers
45710 Airport Road
Toll free: 1.800.668.2112
To locate other offices throughout the city or province, please click the web link.
There are a variety of Government programs available for Canadians, such as the Canada Pension Plan, Old Age Security benefits, Employment Insurance Benefits and obtaining your Social Insurance Number. For your convenience, we have provided a variety of easily accessible links to help you obtain the information and forms required for your current life need.
Canada Pension Plan - for information and application forms regarding:
.... Retirement Benefits, Disability Benefits, Survivor benefits, and Death Benefits
Old Age Security Benefits - for information and application forms regarding:
.... OAS Pension benefits, Guaranteed Income Supplement (GIS) and Allowance benefits
Employment Insurance Benefits - for information and application forms regarding:
.... Accident & Sickness benefits, Unemployment benefits, and Maternity/Parental Benefits
Social Insurance Number (SIN) - for new cards and replacement cards
MSP & Pharmacare
Residents of BC must enrol in the
Medical Services Planand also register for Fair PharmaCare, the prescription drug portion of your MSP.
For your convenience, we have provided the links below to access this information directly, so you can apply, enrol, or make any required changes such as name, address, obtain replacement cards, and so on.
For direct access, we have provided the following links:
- for individuals: you can enrol or update information here
- for employers: you can establish a Group Payment plan for employee deductions
- Financial Tips
- Debt/Save TrapBreaking the "paycheque to paycheque" chains once and for all.....
Many Canadians live like this, and there is a way out. Let's look at a typical household....
Mortgage, car loans, and credit card debt (most of which have high interest payments), and little to no money saved. With a fixed income or salary, it may seem hard to pay it all off. First and foremost, you MUST look at the Smart Equity™ system. This is a powerful debt management tool that can save tens of thousands in interest, WITHOUT increasing your current monthly mortgage payments.
Second, let's take a look at the old strategy of paying off all destructive debt first, then saving money. This is the common reason why people are always in debt. If you pay off all destructive debt first (excluding the mortgage) you may feel great, however you have no money saved. This is where life happens: the transmission in your car goes, need a new roof or deck, hot water tank and furnace go, and on and on. Since you have no money saved, guess what, you go right back into debt for any expenses. What's worse, is a possible lack of discipline and borrowing money for excessive or totally unnecessary wants.
The books say to pay off all destructive first, so as to reduce the interest payments on credit cards, credit lines and so forth. This is a short term view. Yes, you will pay a litlte more interest by saving first (any interest earned offsets interest paid), however, it is insignificant to the total savings made by following this very simple but effective strategy in the correct order...
1)Save 6 months of gross family income to establish emergency fund, use all disposable income.
2)Make the minimum debt payments along the way without increasing or adding to your debt.
3)Re-allocate the current monthly savings from (1)and attack your debt full force, starting with the highest debt balance (excluding your mortgage). 4)Pay cash for all life's needs: do not use credit cards or credit lines.
It may take 2 - 5 years to reach this Financial Independence goal depending on debt load and income, however, once done, you will have control of your cash flow, no debts (excluding mortgage) , and have a healthy emergency fund. Now you can apply the cash flow from
(1)to Retirement savings, new home purchase, investments, etc.
- Do RRSPs Make Sense?Many people ask if investing in an RRSP makes the most sense, or are there other ways to invest in a tax efficient manner? The answer is yes to both. It depends on the stage of your financial life.
Leveraging to invest in non registered funds can be more effective than RRSP's, however, there are dangers to leveraged investments that are not for rookies. Although mathematically this strategy is better than an RRSP, it is less liquid and you could end up owing more than you borrowed. A minimal RRSP portfolio may not affect any future Old Age Security clawbacks. You need to have your financial affairs in a certain order and other liquid investments before you engage in this type of planning.
However, at the right time, this can prove to be a very effective strategy in allowing your money to grow faster, while at the same time recuding future taxes, without forfeiting any tax deductions today.
- Cash Flow ManagementOne of the most overlooked areas of Financial Planning is focus on your Cash Flow. Every successful company large or small needs to know exactly and precisely the inflows and outflows of capital. This scrutinizing is essential to know how to manage resources and take advantage of investment or growth opportunities.
Although you may be working with a family budget, the process is the same. Many people do not realize how much money is being wasted away, simply because they do not pay attention to their budget. It's not about making sacrifices so much as investing in your future. The smarter decisions you make today, the better off you'll be in the future.
Smart Equity™can also assist in managing your cash flow by significantly reducing the time it takes to pay off any and all debt, especially your mortgage.
- Deduct Your Mortgage
This is a common question asked by many Canadians: is there a way to deduct my mortgage payments? The answer is yes, if certain conditions are met. There are typically 2 ways to do this:
1)If as an example you have $200,000 of mortgage debt and a $200,000 investment portfolio, you can deduct your mortgage interest payments by liquidating the portfiollio to pay off the mortgage, and then simultaneously borrow back to re create the same portfolio you had prior. What this does in effect is change the loan from a mortgage on a home to money borrowed to invest or generate income, which is now tax deductible. 2)The second method is to utilize the Smith Maneuver™, however this is more complex and involves leveraged investments.
Both have their merits depending upon your financial situation.
- Joint OwnershipIf you are married or in a common law relationship, it may be prudent to consider the Joint Ownership with Right of Survivorship of your assets in case of premature death. Many people fail to do this, and it can result in delays of accessing, using, and controlling these assets such as your home, vehicles, investment portfolios, and so on.
It is essential to obtain the correct legal advice on these matters, including updating your Will, so that your assets transfer to your intended survivors and beneficiaries as planned.
- Mortgage or RRSP?One of the most common financial planning questions is "do I allocate any extra disposable income against my mortgage or invest for tomorrow?"
The simple answer was, if the interest rate on the mortgage was greater than the expected rate of return on the investment, then it would make sense to pay off the mortgage debt first. Or vice versa, if the rate of return was greater than the mortgage interest rate, then invest the extra. The ultimate goal was to increase your net worth as effeciently as possible.
As each situation is unique, it is critical to run the numbers or calculations to see what makes the most sense (please review the attached sample).
RRSP or Mortgage Paydown
There is actually a better strategy which can combine both ideas together. First, take at look at the Smart Equity™ debt management tool. This is a very powerful program that can save tens of thousands to hundreds of thousands in interest, WITHOUT increasing your monthly mortgage payments.
This now frees up any extra disposable income for any and all types of investments, to further enhance your net worth, and possible retirement savings. Now you don't have to choose, you can always allocate extra funds to any and all investments of your choice.
- Life Insurance
Frequently Asked Questions:Click to see the answer...How much Life Insurance do I need?Every person or family is unique, and their needs will change over time. The only way to know is by a thorough analysis of your current situation.Click to see the answer...What type of Life Insurance policies are there?There are only 3 kinds: Term Life, Universal Life, and Whole Life. They all have advantages and disadvantages, therefore it is important to review each option and see what is best for your needs.Click to see the answer...How long do I need Life Insurance for?Most people's needs will drop off after retirement, once the mortgage is paid off, the kids have moved out on their own, and you have built a retirement nest egg. However, for those who have accumulated a significant net worth, you may need lifetime coverage to preserve your Estate for the next generation.
- Disability Insurance
Frequently Asked Questions:Click to see the answer...How much coverage can I get?The majority of insurance plans will provide about 85% of your net take home pay, tax free if set up properly.Click to see the answer...How long am I covered for?The claim payment period can range from 2 years to age 65, assuming of course you are continously disabled.Click to see the answer...Can I get coverage even if I have it at work?In most cases yes, you can have a private policy as a top up to existing group coverage.Click to see the answer...Is there a difference in the quality of plans?Absolutely yes: there are good plans and ones not worth the paper they are written on. It is essential to understand the differences, as it has a direct impact on how much you receive at claim time, and for how long.Click to see the answer...Are there any hidden clauses or fine print?Contrary to popular belief, no. The problem is few people take the time to review the policy options or wordings, or mistakenly go for the cheapest plan. There's a reason it's cheap. However, all good policies clearly illustrate all key definitions and terms.
- Critical Illness
Frequently Asked Questions:Click to see the answer...How much coverage can I get?10,000 to 2,000,000 dollars are the policy coverage limits.Click to see the answer...How long am I covered for?10 years from policy issue all the way to age 100, or for as long as you keep the plan.Click to see the answer...Can I get coverage even if I have it at work?Absolutely yes: in fact, CI is an excellent top up to Group Long Term Disability Insurance.Click to see the answer...Is there a difference in the quality of plans?For the most part no. They all have the same standard medical definitions, however, some plans cover more medical conditions than others.Click to see the answer...What does Critical Illness cover?CI policies cover life threatening medical conditions such as Heart Attacks, Stroke, and Cancer, as well as several other conditions.
- Mortgage Insurance
- Employee Benefits
- Collateral Loan Insurance
- Pension Maximization
- Estate Planning