Which of the following is true about premiums for group insurance plans?

The assertion that accidental and sickness premiums can be claimed as medical expenses is correct. This is an important aspect of how health-related insurance premiums function within the context of the tax system in Canada. For tax purposes, individuals are allowed to claim eligible medical expenses for various types of insurances, including those pertaining to accidental and sickness coverage. This means that if premiums are paid for group insurance policies that cover these categories, those payments may qualify for tax deductions under the medical expense tax credit, benefiting the employee financially.

This understanding is critical for individuals enrolled in group insurance plans to properly navigate their tax obligations and potential benefits. It also highlights the importance of being aware of which types of expenses can be claimed, allowing for better financial planning and tax strategy.

The other options, while they may carry some truths in different contexts or with additional specifications, do not accurately describe the general characteristics of group insurance premiums. For example, while premiums can be tax-deductible for employers and, in some cases, employees depending on the specifics of the plan, it's not universally true across all situations. The responsibility for premium payment can vary; often, the employer contributes to some portion of the premium, and it is rarely the case that employees pay the entire amount themselves. Lastly,