Who is Eligible for a PHSP?

How do you know if you qualify to enroll in Private Health Services Plan?

Through Cost Efficient Benefit Plan, you qualify for the Private Health Services Plan (PHSP) if you own an incorporated business.

The size of the business does not matter. There may be one or numerous employees.

A sole proprietor must have at least one arm's-length employee to qualify to enter into a PHSP, which is available through a third party administrator, such as Cost Efficient Benefit Plan.

The most common definition of a medical expense is a payment made to a licensed medical practitioner qualified to practice under the provincial laws of the place where the expenses were incurred. Medical expenses eligible to be paid out of the PHSP are expenses which would otherwise qualify as medical expenses within section 118.2(2) of the Income Tax Act.