Group insurance brokers worried about taxation of health benefits

Two-thirds (67 per cent) of group insurance brokers said their client base would decrease if employer-paid benefits became taxable income, according to a survey by the Canadian Group Insurance Brokers and Digital Journal Group.

, Prime Minister Justin Trudeau said in Parliament his government wasn’t planning to tax employee health and dental plans. However, the Parliamentary Budget Office released a report in May 2018 looking into .

“This leaves the Canadian broker community uncertain about this issue,” said Dave Patriarche, founder of the Canadian Group Insurance Brokers, in a news release. “The taxation of benefits will cause lost jobs across the industry, increased costs to taxpayers and a reduction in benefits for many.”