Medical Reimbursement Plans
The average group benefits plan provides plan members with comprehensive, cost-effective coverage. Our group Medical Reimbursement Plan (MRP) takes that coverage one step further by allowing your organization to strengthen its coverage while providing valuable tax savings to your key plan members. Table Start
Solutions That Fit Your Needs
- Supplements your organization's healthcare, dentalcare and visioncare coverage
- Provides enhanced benefits to your key plan members
- Allows you to reward your members
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The MRP provides coverage for a specific group of plan members, such as managers or executives. All plan members in this group must be eligible for coverage.
Coverage also extends to any dependant for whom the plan member is entitled to claim a Medical Expense Tax Credit under the Income Tax Act. For example, an MRP member could have enhanced coverage for a dependent parent that is not available with the plan member’s regular plan.
The MRP covers the cost of a variety of expenses, including:
- Deductibles and coinsurance
- Prescription drugs, eyeglasses and contact lenses
- Chiropractic or physiotherapy treatment
- Devices to assist people with disabilities
- Orthodontia
An MRP has a $5,000 or $10,000 maximum per plan member, per year.
Note: Before establishing an MRP, you should consult with your independent tax advisor to review your needs and determine whether an MRP is appropriate for your organization.
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