February 25, 2015 - Issue # 13
Licensed service providers must file an Annual Information Return and pay the annual regulatory fee by March 31, 2015
If you are a service provider with a licence from FSCO as of December 31, 2014, you must file an Annual Information Return (AIR) in 2015. FSCO will send you a personalized web-link to use in completing the 2015 AIR. You should receive the web-link and instructions by email by March 2, 2015.
Once you receive the web-link, you will have until March 31, 2015 to complete the AIR and pay the annual regulatory fee. In the meantime, you can begin to prepare business information that will help you complete the AIR, such as:
- Addresses and registry numbers of your facilities enrolled in HCAI as of December 31, 2014.
- Number of unique SABS claimants during 2014.
The AIR should take about 20 minutes to complete. You will need to submit your completed AIR electronically through your personalized web-link.
The AIR collects information about your business that FSCO will use in its risk assessment and supervision of service providers. The information collected through the AIR will also be used to calculate the fees payable to FSCO by your business in 2015.
If you applied for a licence from FSCO before March 31, 2015, it means that at the time of application, you paid the annual regulatory fee up to March 31, 2015.
Once your licence application is approved, you will have to pay the annual regulatory fee for the period covering April 1, 2015 to March 31, 2016 (FSCO's next fiscal year).
In December 2014, the Financial Services Commission of Ontario (FSCO) began on-site examinations of licensed service providers. FSCO conducts these examinations throughout the year to ensure that licensed service providers are in compliance with the Insurance Act and regulations. As part of its risk based approach to regulation, FSCO conducts similar examinations of licencees, including general insurance companies.
FSCO is selecting service providers for examination at random and using risk factors identified during the licensing process.
Currently, FSCO is using the examination as an educational tool. It’s an opportunity for service providers to get help and advice from FSCO on how to implement best practices and procedures for day-to-day operations.
There is nothing to be nervous about. A list of required documents I received a week prior to upcoming date helped me to be well prepared. The examiners were very helpful throughout the entire process. – Farida Kasimova, Health-Pro Wellness, Vaughan
It's easier than you think to prepare for FSCO's on-site examination. Learn more.
New Questions & Answers on FSCO's website
Complaints about billing practices in the service provider sector
FSCO has now published its process for SABS claimants seeking to resolve complaints about service providers – whether or not the service provider is licensed by FSCO.
FSCO directs claimants with a complaint about the billing practices of a service provider to first try to resolve the matter directly with the service provider.
Making a complaint if you are a service provider – licensed or not licensed by FSCO
If you are providing goods and services to a SABS claimant and have a complaint about the billing or payment practices of an insurance company, follow the steps set out in FSCO’s publication How to Resolve a Complaint About Insurance.
Just submitting your licence application now?
If you are applying now, you should know that FSCO is continuing to review new applications as quickly as possible. However, it may take several weeks for FSCO conduct a thorough assessment of an application including criminal background checks.
If you are a service provider awaiting a licence decision from FSCO you are not permitted to receive direct payment from an insurer for the goods and services provided after November 30, 2014 until the effective date of your licence.
Where to go for more information
For more information about service provider licensing:
Toll free: 1-800-668-0128