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Request a No Obligation ReviewA Private Health Services Plan (PHSP) is a highly flexible health & dental plan designed by and for smart business owners.
Why a Private Health Services Plan (PHSP) is Needed
Without a plan, Canadian tax guidelines do not allow Canadian businesses to deduct personal and often expensive health service expenses, such as extensive dental work. Health & dental expenses are thus paid for by the business owner *outside* of the business, with after-tax dollars. A business owner could arrange a traditional health plan but these plans are not flexible, such as unflexible coverage limits and wait times for coverages on major services. Traditional plans also do not cover the full amount and have fixed uppeer limits.
Health & Dental for Smart Business Owners
Instead, smart business owners today are take advantage of Canadian tax rules which allow the setting up their own Private Health Services Plan (PHSP). This allows complete flexibility in health & dental coverage. Instead of being forced to use after-tax dollars, Canadian tax law allows approved payments to be issued tax-free to employees, including the business owner, provided they are for appropriate health & dental expenditures. Since many traditional plans are only used up to 75% of the plan premiums (despite that you are paying the full premium), setting up your own Private Health Services Plan (PHSP) will save money, since you only pay for what is utilized. Overall with tax savings, reduced coverage costs, setting up a plan just makes financial sense.
Employees and Owners Both Love the Flexibility
Flexibility is second to none. Instead of being subjected to many rules such as upper limits on types of health & dental costs, the employee instead can be provided with a total limit to use as they please. This flexibility makes plans easy to understand and easy to operate.
Obtain your Private Health Services Plan (PHSP) Now
Private Health Services Plan (PHSP) is a highly flexible health & dental plan for smart business owners. Click the Insurance Button now to speak with one of our advisors who can review your options with you.
