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 The Private Health Services Plan (PHSP) benefits your company
by allowing all your health and dental expenses to be deducted from your company’s
taxes.
There are no premiums to pay.
You, the employer,
decide the range of options for your employees.
Your claims are processed
immediately upon receipt. This means you receive your refund quickly.
The Private Health
Services Plan (PHSP) was
created by the Federal Government. The Canada Revenue Agency backs and supports
the PHSP.
There are no pre-set
limits for the amount of health and dental expenses the business owner is permitted
to remit.
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As a business owner,
your health and dental expenses can be paid with pre-tax dollars through your company,
creating a legitimate deduction.
On a personal level,
100%of your health and dental care costs
are reimbursed on a tax-free basis to the individual. This enables the business
owner to deduct health care expenses easily, efficiently and cost effectively.
Through the Private
Health Services Plan, you, the owner, set the level of coverage and services for
your employees. Even if you already have an existing insurance plan, a PHSP allows
you to deduct the remaining expenses your existing plan does not cover.
This program works
by directly reimbursing all eligible health and dental expenses to you and your
employees who are on the plan.
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