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By registering with us, you create for yourself what the Government calls a Private Health Services Plan.
Under the Income Tax act, amounts paid by an employer towards a Private Health Services Plan for its employees and their dependents, can be claimed as an expense of the business. These amounts are not considered as a taxable benefit to the employee, and are not added as taxable income to their salary.
How does it work?
It is a very straightforward process:
Your company registers with HealthPlus (the trustee), and sets up the plan.
You pay for your medical expenses as normal
Your company submits a claim, plus a processing fee, to HealthPlus
HealthPlus reimburses you for the claim amount
By doing this, these costs are now considered premiums under the definition of a Private Health Services Plan, and are therefore deductible by the Employer, and not taxable to the employee.
Some points to note:
These kinds of plans are identical to what many large companies use for their employees. The Government intent is to allow small business and self employed individuals to have access to the same tax treatment for health care as large companies
This is not insurance. You do not pay
regular premiums. You only claim actual costs incurred.
Register now to obtain retroactive coverage for the previous 12 months