This is the home of all the news about Vital Partners, as well as our blogs, newsletters, and event notices. Check back often to see what is going on at Vital Partners.

CPP and EI Changes in 2016

What can we look forward to the following changes to CPP, EI maximums and RRSP limits in 2016: Contribution limits The 2016 RRSP dollar limit has increased to $25,370. Defined Contribution Pension Plan (DCPP) - $26,010 Deferred Profit Sharing Plan (DPSP) - $13,00 Defined Benefit Pension Plan maximum pension limit (DBPP)...

Understanding the Financial Cost of Cancer

Cancer is a devastating diagnosis for many reasons – one of which is the financial hardship that it brings to patients and their families. In 2012, the Canadian Cancer Society released a report called “The Financial Hardship of Cancer in Canada: A Call to Action,” where...

Need to Know: Benefits – November 2015

It’s time for another edition of our monthly “Need to Know” series, where we rotate between our focus areas of Insurance and Employee Benefits. This month, our focus is on Benefits. This month, we are focusing on “reasonable and customary” fees. How do these terms affect...

What does reasonable and customary mean?

Reasonable and customary limits apply to many areas of a benefit plan -- from dental to medical supplies to paramedical practitioners, like a massage therapists. These limits are put in place as an effort by the insurer to protect plan sponsors from paying for services...

Insurance Jargon, Decoded: Mandatory Generic

When we’re shopping for consumer goods such as cookies, our perception is that the generic brand is not quite as good as the brand name equivalent. But in the case of prescription drugs, generic medications are considered to be “bioequivalent”. That means that Health Canada has...

Group conversion options: Health and dental options for terminating employees

It is an employers’ legal responsibility to ensure that terminated employees are made aware of their options to convert or conserve any of their insurance or group benefits. These conversion options can be added to a termination letter for departing employees. Typically, these letters will outline...

Benefits continuation – What you need to know

In today’s market, many Alberta-based companies are being forced to right-size or downsize. When offering benefits continuation for terminating employees, there are a few important items to keep in mind. Standard group contracts maintain that an employee’s group insurance coverage ends on the date the employee-employer...

In the News: Capital Ideas Calgary, Nov. 12, 2015

Jennifer Kirby, one of our co-principals/co-founders at Vital Partners Inc. is the featured entrepreneur in Capital Ideas Calgary, published in today's Calgary Herald. This week's question is, "How do you maintain motivation in your staff?" Jennifer says communication is key. View her full response here, or...

Term Insurance – What’s in it for me?

Clients will frequently ask whether term or permanent insurance represents the best solution for their needs. But the truth is that it can be a complex answer that requires a bit of soul searching, some forward thinking, and budgeting. What is term insurance? Term insurance is basically...

Insurance Jargon, decoded: Any Occupation

Insurance Jargon, Decoded: Any Occupation Disability benefits – or income replacement if you are unable to work due to an accident or illness – are an important piece of our financial security. Most group insurance contracts include policy definitions that differ slightly in terms of the...