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Who Qualifies?

Corporations (Unlimited)

Corporations are facing rising benefit costs combined with more restrictive contract wording in group insurance. A Private Health Services Plan (PHSP) lets them take advantage of a new approach that can save up to 30% and provide increased flexibility and control. No health questions or age limits apply. This is not insurance.

Who’s Covered

  • Active Business Owners 
  • Active Shareholders 
  • Employees 
  • Spouses (including common-law) 
  • Children under age 18 unless registered as a full-time student at a College or University and has not attained the age of 25.

Unincorporated - (Limits)

Unincorporated individuals must adhere to the maximum limits set out in the Income Tax Act, Section 118.2(1). Household maximum of $1500 per adult, $750 per child and anyone in the family can use the entire amount. A PHSP works on its own or in combination with existing group insurance coverage. No health questions or age limits apply. This is not insurance.

Amazing considering that prior to 1998 there were only two ways for Unicorporated individuals to pay for medical and dental expenses:

  • Group Insurance - many services are not covered and are subject to both deductibles and co-insurance, (i.e.; Basic Dental 80/20). 
  • Pay cash - no or small tax credit based on the Canada Revenue Agency’s (CRA) 3% medical tax credit rule.

An Example

See Tax Deduction Example on the right column of how a PHSP benefits your business by receiving a 100% tax-deduction instead of a personal 3% medical tax credit without a PHSP. Not only this year, but also every year as long as you are an active business owner. Your lifetime savings could be thousands of dollars.


More questions about the Private Health Services Plan? Complete the online form or contact June Borlé at (604) 874-4429 or Toll-free (888) 880-2266.