The Private Health Services Plan (PHSP) is a comprehensive benefits plan that provides flexible coverage, and a management tool that controls costs for business owners and their employees.  It provides the security of a benefits plan without expensive premiums or restrictions.

PHSP offers:

• 100% reimbursement

• flexibility of coverage

• tax savings

• low administration costs

• cost control

PHSP is a self-funding reimbursement plan, endorsed by the Canada Revenue Agency¹

Tax Savings

As a business owner, you realize tax savings when you purchase health and dental expenses with before-tax dollars - an immediate saving equal to your personal tax bracket.  Health expenses become a tax-deductible business expense, and reimbursements are paid to you personally, tax free.

Low Administration Costs

Not only are there no premiums to pay, but also our PHSP offers the lowest administrator fees in the industry.  Our pay-per-claim plan charges a 5% administrator fee on claims, as claims are submitted.

Cost Control

Employers decide how many credits / dollars will be applied to employees' Health Spending Accounts each year.  Therefore, the employer knows the maximum amount to be spend on the employee benefit plan in a given year.

 

100% Reimbursement

Employees are reimbursed for 100% of their health, dental and vision expenses (up to the plan maximum), with tax-free dollars.

 

Flexibility

PHSP Employee Health Spending Accounts can be used for medically necessary health, dental or vision expenses.  Employees use Health Spending Account credits on the services they need, when they need them.

 

PHSP pays health, dental and vision care expenses not reimbursed under other benefits plans.

        ¹ CRA interpretation bulletin IT-339R2