Do your research before buying pet insurance, experts say + MORE Oct 23rd

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
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 home insurance

Canada’s best no-fee credit cards 2022 Nov 4th

Some of the best things in life are free—so why should you expect any different from your credit card? Canada has an impressive array of no-fee credit cards that don’t charge cardholders an annual fee, while also delivering respectable rewards like cash back and travel points. Many of these no-f.... More »

TFSA contribution room calculator + MORE Mar 4th

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator. Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-tr.... More »
 commercial insurance

National Bank of Canada World Elite Mastercard review Oct 31st

National Bank’s World Elite Mastercard has long earned accolades for its included insurance, robust points program and unique and valuable perks, making it a solid choice as a travel card. With the fall 2022 restructuring of its rewards program and other adjustments affecting insurance and the rei.... More »
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The best Aeroplan credit cards in Canada for 2023 + MORE Jan 19th

Spend Best cash back credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Let’s get started .... More »
 term life insurance

If my home is destroyed, will insurance cover its full replacement cost? Feb 20th

If you live in an area susceptible to flooding or other natural disasters, experts say, you should double-check that your insurance policy covers your home’s full replacement cost.... More »

Cost Plus and Group Benefit Plans


Cost Plus and Group Benefit Plans
What is Cost Plus?
Group benefit plans, also called group insurance or employee benefits, offer company employees coverage for various healthcare costs. These benefit plans commonly cover dental and prescription drug costs, and they may also cover costs resulting from vision care expenses and paramedical expenses (for example, chiropractors, massage therapists, etc.).
Sometimes, however, healthcare expenses may be incurred that are not covered by a benefits plan. Group benefit plans are highly customizable, and what one plan covers another plan may not.
Business owners in particular might want to have healthcare expenses paid for in a tax friendly manner that are not covered by the benefits plan they provide their employees.
This is where Cost Plus, a Private Health Services Plan (or PHSP), comes into play. Most (but not all) group plans have an option for Cost Plus, which is a method for business owners to use corporate pre-tax dollars to pay for expenses not covered by the group plan…

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How to improve your credit scoreMoving out on your own, financing a car or landing your dream job—all of this can require having a good credit score. Your credit score indicates how trustworthy you are in the eyes of creditors, and it can range from a low of 300 to a high of 900.

A good credit score (typically in the high-600 to mid-700 range) can help you qualify for a car loan, mortgage or insurance. It can help you get the best interest rates from your lender. At times, a landlord or employer may even ask to see your credit score before accepting you as a tenant or offering you a job. For that reason, it’s important to know how credit scores work, was well as how to build or improve your own score.

Factors that impact your credit score

Young adults tend to have lower credit scores on average than older Canadians. At the time of a 2018 study by Equifax Canada, Canadians aged 18 to 25 had an average score of 692. That was lower than all other age groups—including 26-to-35-year-olds, whose average score was 697…

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