Group insurance plans, group term benefits for former employees, remittance deadlines (Ask an expert)

All premiums paid by the employer on behalf of the employee should be treated as a taxable benefit
By Annie Chong
|Canadian Payroll Reporter|Last Updated: 01/15/2013

Group insurance plans

Question: Our company has a group insurance plan that covers employees' life insurance, dependant life insurance, accidental death and dismemberment (AD&D), private health insurance (including prescription drugs, health, dental, and vision), short-term disability (STD) and long-term disability (LTD). If the employer pays for the premiums on behalf of the employees to cover the cost of the group insurance plan, does a taxable benefit result and, if so, where is it reported at year end?