Tax Act changes: AD&D and Critical Illness insurance

Posted on

This is an important change in tax status for group benefit plans:

The amount of premium an employer contributes to an Accidental Death & Dismemberment (AD&D) plan or a Critical Illness (CI) plan is proposed to be considered taxable income to the employee.

Please take a few moments to read the following correspondence, courtesy of the Co-Operators Group Benefits.

Accident-Sickness Info Update 2012