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PHSP for Active Shareholder/Employee Receiving a T5 Dividend Income



There is no question Private Health Services Plans have become an attractive alternative for business owners to augment a group benefit plan or replace it all together as stand alone coverage depending on size of the business.

Over the past few years the BIG question asked is…                           

“As a shareholder/employee what happens if I no longer take a salary but receive payment by dividends only, do I still qualify for a PHSP?” 

The good news is YES…however the shareholder must be actively engaged in the business activities of the corporation. Basically the T5 dividend income MUST be active income NOT passive to continue or enroll in a PHSP.


  • Personalized one on one service
  • Ease of enrolment
  • One time set up fee (tax-deductible) 
  • 10% administration fee on claims submitted plus applicable provincial tax
  • Non-taxable benefit to owners, active shareholders, employees and dependents
  • No monthly premiums, co-insurance, health questions or age limit, this is not insurance
  • Qualified list of expenses is endless

If you fall into this category simply complete the Online Form or contact June Borlé, Trust Specialist at (604) 874-4429 or Toll-free (888) 880-2266.