In response to the Quebec Government's decision to eliminate health services tax next year and increase spending on health and social services, the region’s foremost association on life and health insurers has issued a statement of support.
"Our industry employs nearly 30,000 Quebecers and insurance companies pay and collect $1.6 billion in taxes in the province, which is why they are greatly interested in Quebec's economic status," commented Lyne Duhaime, president of ACCAP-Quebec, the Quebec branch of the Canadian Life and Health Insurance Association (CLHIA).
On the subject of the provincial government’s decision to cut health services tax, Duhaime proposes a solution that would help ensure the quality of long-term care for seniors.
Since long-term care insurance would help minimize home care costs, the CLHIA recommended introducing a non-refundable 15% tax credit against the premiums of qualifying long-term care insurance to encourage consumers to purchase such insurance.
"As a partner with the government in the area of health, we want to cooperate in developing and implementing products that can reduce seniors' financial burden arising from long-term care," Duhaime explained.
CLHIA also praised the provincial government’s plan to increase spending on infrastructure.
"Continued investment in infrastructure is good news. We have already invested more than $12 billion in Canada's infrastructure, and we can invest more. This is another good opportunity for cooperation between our industry and the government," Duhaime added.
Quebec is looking to increase spending on health by 3% in 2017-2018, with health and social services receiving $300 million more a year by 2017-2018. As the measure takes effect immediately, an additional $100 million has been funneled into the sector as well.
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