For a limited time only, Greenshield Canada is allowing open enrolment into its LINK health and dental plans.
Anyone can now apply for a LINK plan, regardless of age, health and medical situation. Coverage that you can count on is guaranteed for life.
If you answer “Yes” to any of the following questions then a LINK plan might be for you:

Are you self employed with a medical condition?
Are you retiring and losing your health and dental coverage?
Has it been a while since you had benefits?
Does your current employer not offer benefits?
Is your current individual health plan inadequate?
Does your health plan not cover a pre-existing condition?

LINK plans are designed for people losing their employee benefits and as such have advantages many people do not qualify for. Starting December 11, 2025 (and for a limited time) they are available to anyone looking for comprehensive, personal health insurance. Once you are enrolled your plan is with you for life as long as you keep up with premium payments…

If you know you want an American Express credit card, you’ve probably been referred to the Cobalt credit card. The Cobalt combines high earn rates for everyday purchases with a great insurance package and the ability to put points towards travel for high value. In this American Express Cobalt review, we break down rewards, perks, insurance, fees, and real cardholder opinions to help you decide if the Cobalt is worth it.

Who is the Amex Cobalt best for?
The American Express Cobalt might be the perfect card for someone who wants access to Amex’s well-known perks and insurance coverage while earning increased rewards for everyday purchases like groceries, restaurants, streaming, and gas.

American Express Cobalt: The basics

featuredAmerican Express Cobalt
Annual fee: $15.99/month (equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents.

Rewards: 1 to 5 points per dollar

5 points per $1 on dining and groceries

3 points per $1 on streaming services

2 points per $1 on transit and gas

1 point per $1 on all other purchases

Welcome offer: Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points…

When Was the Last Time You Reviewed Your Plan?
If it’s been a while, you could be missing out on new discounts, waived waiting periods, and enhanced coverage options. Whether you’re self-employed, between jobs, transitioning to retirement, or simply looking for better value, now’s the perfect time to review your individual health and dental plan.
At Baker & Baker Benefits, we’re licensed Canadian health insurance brokers which means we work for you, not the insurance companies. We live and breathe health and dental plans every day, helping Canadians find the right coverage at the best price.
Why Review Your Health Plan Now?
There have never been more incentives, discounts, and carrier promotions available. Some are advertised publicly, but others are exclusive or not widely known, accessible only through brokers like us who track every update.
Here are a few current examples you should know about:

Manulife FollowMe– 5% lifetime discount for anyone applying within 90 days of leaving an employer group benefits plan…

In today’s competitive job market, offering a robust group benefits package isn’t just a perk—it’s a strategic necessity. Whether you’re an HR professional, a small business owner, or an employee trying to decode your coverage, understanding the basics of group benefits is essential.
What Are Group Benefits?
Group benefits are insurance and service packages offered by employers to their employees. These typically include:

Health Insurance (medical, dental, vision care, etc.)
Life Insurance
Disability Coverage (short-term and long-term plans)
Retirement Plans (RRSP matching, pensions, etc.)
Wellness Programs (mental health support, gym memberships, etc.)
Paid Time Off (vacation, sick leave, parental leave, etc.)

These benefits are often more affordable than individual plans because the risk is spread across a group of people.
Why Do Group Benefits Matter?
For employers:

Attract and retain talent: 81% of employees say benefits influence job acceptance.
Boost morale and productivity: Employees who feel cared for are more engaged…

The cost of providing comprehensive benefits continues to rise. Managing group benefits effectively is critical for employers in Canada. The need to find balance between offering appealing group insurance to employees and maintaining financial sustainability is not easy.
Here are some innovative cost management strategies that can help businesses navigate this challenge successfully. We are here to help navigate the current benefit landscape to customize solutions for each specific employee group.

Engage a Qualified Broker: Using the services of a group benefits broker will save you time and money. A good broker will have the tools and expertise to market your plan effectively, make recommendations on trends for optimum coverage at the best prices and have an objective perspective on what will work best based on needs. Most brokers do not charge fees for service, they are paid standard commissions by the insurance companies they represent.
Embrace a Flexible Benefits Model; A one-size-fits-all approach often leads to inefficiencies and wasted resources…

In Canada, Health Care Spending Accounts (HCSAs) have become a popular benefit offered by many employers. These accounts offer employees a flexible, tax-efficient way to manage health-related expenses such as dental, prescription drug and paramedical costs.
Let’s discuss what HCSAs are, how they work, and why they are a great addition to group benefit plans.
What is a Health Care Spending Account?
An HCSA is an employer-funded account that reimburses employees for eligible health and dental expenses that are not covered by either their provincial health insurance or private group benefit plans.
These HCSAs offer a high degree of flexibility and control over how health care money is spent, and are especially useful when it comes to covering expenses that are not 100% covered.
How Do Health Care Spending Accounts Work?
HCSA accounts are actually very simple. Each employee gets a pre-determined amount of money on an annual basis which can be spent on a wide range of eligible expenses, such as:

Prescription drugs
Dental care (e…

Personal Health Expenses
In many cases health plan related expenses can be declared as tax deductible expenses when filing
taxes. This is true for both individual plans and employee benefit plans.
According to the Canadian Revenue Agency (CRA), the premiums for a private health insurance plan that
cover yourself, your spouse and/or children are eligible tax deductions. This also includes premiums that
cover a common law partner. The taxes paid on these premiums are also eligible tax deductions.
Know that out-of-pocket medical expenses (e.g. eligible expenses for things not covered by your health
plan due to pan maximums) are also eligible.
Other possible tax deductions are things such as vehicle modifications and mobility aids required for
medical reasons.
For a complete listing of tax deductible medically-related expenses see the CRA web site here.
Employer Health Expenses
If you are a small business employer, you should consider group benefits as a high value method of
remuneration for employees…

Oftentimes graduating students have pre-existing medical conditions that will no longer be covered by their student health insurance.
If a graduate is able to get employment and if their employer offers employee benefits then their medical conditions will be covered by these group benefits. However, this means there is a window while unemployed when the graduate has no health benefits. In addition, not all employers offer group benefits.
Guaranteed issue health plans have no medical questions and automatically cover pre-existing health conditions!
If you answer “yes” to any of these questions then guaranteed health insurance may be for you:

Are you a student who currently has medical coverage for your pre-existing condition but are “ageing out” of your parent’s health benefits? (In otherwords, you no longer qualify as a dependent on your parent’s plan due to you age).
Are you are graduating from a post secondary school and losing your student health plan?
Have you graduated and not yet employed with a company that provides benefits?

If you are currently still covered by a student health plan and one of these events is looming don’t worry, we can help!
Several top Canadian insurers offer coverage that includes pre-existing conditions if you apply in time…

How Getting a Group Benefits Plan Works
A company that is looking for a benefits plan engages an advisor (e.g. a broker or agent) who then submits that company’s details to several insurance companies for a quote. (An experienced advisor will know which insurance companies are best suited for that particular company’s details).
It is then the job of the advisor to present the resulting quotes to the employer along with a recommendation of which group benefits plan that company should choose.
Of course, the cheaper the insurance premiums are, the more attractive that plan is to a company. There are also other factors to be considered, though, such as the types of coverage, the amount of coverage, and annual maximums.
What many employers may not realize is that getting having multiple brokers advising them actually comes with significant pitfalls!
Pitfalls of Having Multiple Group Benefits Advisors
Oftentimes an employer will get multiple insurance advisors involved with getting them a group benefits plan…

Planning a trip can be a very exciting time. You have a destination picked out and you are looking forward to activities that you love to do. Hotel rooms are booked, and you cannot wait to get going.
But have you taken steps to protect yourself from medical emergencies? What about protecting yourself from financial loss if you have to cancel your trip or have to interrupt your trip to go back home to deal with some sort of unforeseen situation?
This is where travel insurance comes into play.
Know What Your Travel Insurance Covers
There are different types of travel insurance coverage available. Quickly purchasing travel insurance without understanding what type of coverage you have can lead to a stressful situation where you aren’t actually covered for unexpected costs.
Emergency Medical Coverage
The core type of travel insurance is emergency medical coverage. This protects people against unexpected medical costs due to an accident or sickness.
This coverage is often considered the most important type of coverage since provincial healthcare plans (like OHIP, AHCIP and MSI) provide little if any medical coverage when traveling abroad…

Ask MoneySense
I cashed in my whole life insurance policy last year and received a T5 suggesting I have to pay tax on the full amount of my cash value. Is this correct? The cash surrender value was $27,000, I paid $28,000 in premiums, and they told me my pure cost of net insurance was $30,000, whatever that means. It doesn’t make sense to me! When I purchased the policy, I was told I could use this money for my retirement. I don’t remember the insurance agent ever saying anything about tax. 

—Rasheed

Is cashing out whole life insurance taxable?

Ah, Rasheed, I am sorry to tell you the insurance company is correct. I am glad you asked this question because it serves as a warning to anyone who owns a whole life insurance policy. Before cancelling a whole life insurance policy, contact the insurance company or your agent, and ask what the taxable amount will be. You are also wondering how much is taxable.

How not to calculate the taxable amount on insurance

Many people assume the insurance cash value is just like any other investment—50% of a capital gain is taxable according to your income tax bracket…

Can I Cancel My Personal Health Insurance Plan?
Yes, absolutely. You can cancel your plan at anytime. Generally, 30 days notice is required but depending on the insurance carrier your coverage is with and the date your next premium is due it could be shorter than this.
Are There Any Penalties If I Cancel My Plan?
When you provide the notice required, there are no financial penalties, however; some insurance carriers will not let you apply for another health and dental plan with them for at least 2 years (24 months).
Pro Tip!
It is highly recommended to give the insurance company the reason you are cancelling so that they can keep it on file. If you are cancelling because your situation has changed, and you are now covered under an employee sponsored group benefits plan it is VERY important to indicate this. In this situation you can apply for another plan anytime without being restricted to a 2 year wait period.
How Do I Cancel?
If you want to cancel your health and dental benefits plan you should reach out to your Advisor for help…