PST will no longer be applied to life and health insurance premiums

March 6, 2018

Effective February 26, 2018, life and health insurance premiums are no longer subject to six per cent PST.

This is great news for the benefit plans and will result in significant savings for employees, employers, and the benefit plans.

The PST exemption is retroactive to August 1, 2017. The Ministry of Finance will provide 3sHealth with additional information this April on how PST refunds will be administered.

The 3sHealth provincial payroll and benefits teams will work together to make the necessary changes to stop collecting PST from employee and employer premiums and contributions. We expect to complete this work by April 9, 2018.

3sHealth will provide our system stakeholders with more information as it becomes available.

Additional information on PST can be found by searching the Government of Saskatchewan, Ministry of Finance website at www.finance.gov.sk.ca.


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