Business Owners save tax using HealthPlus

10/08/2023 | Employee Benefits

One of the great benefits of our plan is that it gives you the freedom to claim an extensive range of expenses. Forget about restrictions, you are able to claim 100% of your child’s dental braces! Any product, treatment or service that qualifies under the medical expense tax credit is an eligible expense. Visit CRA’s website for more information.

Unlike many traditional insurance plans, a PHSP offers 100% coverage on a wide range of expenses…even the expensive ones. Physiotherapy, laser eye surgery, and MRI’s are eligible expenses with HealthPlus.

Do you have expenses that were not fully covered by your spouse’s plan because they exceeded the maximum? The remaining amount of an expense is eligible under HealthPlus by submitting the explanation of benefits (EOB) received from the insurer.

This flexible plan can work as an alternative to a traditional employee benefits plans. The business sets the annual dollar amount for employees to spend on the expenses they need most. These payments become a tax deductible business expense and all reimbursements to employees are tax free. there are no yearly renewal or membership fees. It is pay as you go.

Prescription drugs, massage therapy, and hearing aids are all eligible expenses too. If you are traveling to the cottage this summer…that pair of prescriptions sunglasses is eligible as well. Sore feet from that 10km run? Pay a visit to your friendly podiatrist as all of their services are also eligible under the plan. If would like to learn more or would like to know if a specific expense would be eligible call us at 613-226-1964 or email us at info@capcorp.ca For more information or to sign up and start saving now visit www.healthplusplan.ca.

 

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