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DIRECT AND INDIRECT COSTS 

METHODS AND PROCEDURES     

Introduction   

MDI is proud to announce the availability of a new function that allows for automatic calculation of the social costs of group insurance.   

This highly sophisticated and automated module will enable you to generate with a minimum of effort all relevant calculations related to the direct or indirect tax costs and then compare scenarios. This module will, amongst other features, compare the economic impacts of taxable vs none taxable disability insurances based on various employer/employee contributions.   

Based on the selected services (BASIC to XPRO) certain options or tables may not be available. However for documentation purposes, we will make sure to describe all of the functionalities. We invite you to contact your MDI representative to define the available options applicable to your level of service.          

The use of the service is simplified to the maximum: On the one hand, user will need to access from the main menu option the  module, and insure that the proper parameters of calculation are set for each employer.

Then access one of the two (2) new options of reports/ratios that are available within the «Project analysis» main screen

Data input  

This module will use the tax factors of the various Canadian provinces  

These tables include:  

- tax rates  

O provincial  

O federal,  

- various configuration options for:  

O QPF,  

O EI,  

O QPAR,   

O FSS,  

O Workman compensation,  

O Training,   

O etc.       

In XPRO mode, these tables are captured by the MDI professionals and are amended for each calendar year.         

The XPRO operator sole responsibility will be to insure proper input of the specific parameters for:   

- rate of Workman compensation

- reduced rate of the employer for the HRDC 

- returned portion to the employee   

Printout of results   

Thereafter, you will be able to obtain automatic calculations by selecting one of the two (2) new options that will appear in the “Project analysis” main screen.

To insure proper results, the user must insure that the “Hypothesis Calculation” option be called before printout.  The user will be able to select the project(s) they wish to print or compare.

Any comments?  Please do not hesitate to call on us.