For Business Owners
A Private Health Services Plan (PHSP) is a Canada Revenue Agency (CRA) approved plan that is an effective way for businesses to convert all healthcare and dental expenses into a fully tax deductible business expense. This tax strategy can result in significant savings for small businesses and large corporations.
Benefits of a Private Health Services Plan (PHSP):
- There are no premiums; the business only pays when a claim is submitted
- Your business funds the entire cost of the PHSP and claims a 100% tax deduction
- The cost is a fixed percentage of the claim so you know exactly how much you are paying for
- Reimbursements to employees are not taxable benefits (except in Quebec)
- Comprehensive coverage on medical, dental and vision expenses with few limits
- Employers can top-up group benefits with a PHSP
- Sole Proprietors
- Self Employed Individuals
- Active shareholders
- Spouses (including common-law)
- Children under age 21 - unless registered as a full-time student at an institute of higher learning and under age 25.
One-time set-up fee plus applicable taxes. The additional cost is 10% administration fee on all claims submitted plus applicable taxes (only paid on administration fee) depending on which province you live in.
How do I get started?
If you own a business, you can enroll in a PHSP today. Contact us to learn more.
"Digital Alberta is pleased to announce that we have partnered with BenefitDeck Consulting Ltd. to establish a benefit program for our members. After months of due diligence, the board has decided that it would be a major value add for our members to partner with BenefitDeck and provide access to a benefit plan catered to the digital media industry."
— Michelle Sklar, President, Digital Alberta