Calculating the Value of the Individual's Coverage

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With regard to the RL-22 slip (see courtesy translation RL-22-T), the following formula is used to calculate the value of the individual's coverage under a multi-employer insurance plan:

( A × B ) C + ( D × E ) F

Definition of variables

A represents the total benefits (and related tax) paid during the taxation year to all employees who had the same types of benefits and coverage as the individual concerned (for a private health services plan, see Services Insured by the Régie de l'assurance maladie du Québec)

Special rules can apply in determining variable A if you paid premiums under a stop-loss insurance contract. For more information, refer to Stop-Loss Insurance (Variable A or D).

Special rules can also apply to a private health services plan that provides coverage not backed by an insurance contract underwritten by an insurance corporation. For more information, refer to Coverage not backed by an insurance contract under Services Insured by the Régie de l'assurance maladie du Québec.

B represents the number of days in the year during which the individual enjoyed the benefits and coverage concerned

C represents the number of employee-days of coverage (that is, the total number of employees who had the types of benefits and coverage concerned, for each day in the year)

D represents the expenses (and related tax) charged by a third party for plan administration or management for the year

Such expenses do not include the cost of establishing or amending the plan (for example, fees paid to obtain professional advice, or other costs related to plan establishment or amendment).

Special rules apply in determining variable D if you paid premiums under a stop-loss insurance contract that applies to all types of benefits and coverage under the plan. For more information, refer to Stop-Loss Insurance (Variable A or D).

E represents the number of days in the year during which the individual was covered by the plan

F represents the number of employee-days of coverage under the plan (that is, the total number of employees covered by the plan, for each day in the year)

Note
  • Where optional benefits (for example, coverage of medical, hospital or dental expenses) or different types of coverage (such as individual, single-parent or family) are available under a plan, and where employee benefits and coverage differ, apply the formula (A x B) ÷ C to each type of benefit the individual has.
  • Where a plan does not distinguish between types of benefits and coverage, do not break down the benefits paid under the plan, when calculating the value of an individual's coverage, according to whether or not employees' families were covered or according to whether or not employees were reimbursed for certain types of expenses.

For an example of how to calculate the value of an individual's coverage, consult document IN-253-V, Taxable Benefits.

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