Your Number-One Benefits Alternative

Private Health Services Plans (PHSPs) are the number-one alternative for Canadian small businesses to provide full-coverage for Extended Health Care, Prescription Drugs, Hospitalization, Dental Care, and Vision Care for their employees!

Small businesses can now deduct 100% of their family’s health and dental expenses through their business, saving over 30% – tax-free. Say goodbye to traditional plan premiums and hello to personalized benefits. With a PHSP, you only pay for what you need when you need it, whether it’s prescription medications, therapeutic therapies such as massage or chiropractic, dental and orthodontics, and beyond! No more wasted money on unused services!

Larger companies with employees can also take advantage of a Private Health Services Plan by implementing programs such as Health Spending Accounts, Flexible Spending Accounts or Cost Plus Plans for Executives.

Understanding DIFFERENT PHSPs

Simplify Your Health Security with a Private Health Services Plan

Own & Control
Your Plan

Rest easy knowing that your plan is safely controlled by you, the policy owner

Create Your
Own Plan

Design an a la carte plan that works specifically for your needs, and diversify your coverage

Have Control
Over Cost

Never experience unexpected costs again knowing that you have control over your own plan

Make Room
for Flexibility

Now and into the future, know that your plan will remain flexible and versatile

Rest Easy with
Fixed Costs

Never get surprised with unforeseen costs again, with fixed costs and a transparent contract


By committing to a flexible, versatile plan tailored for you, costly deductibles can be eliminated

Versatile Plans, Ultimate Flexibility

Built to Benefit All Parties

Private Health Services Plans offer numerous benefits for businesses. One advantage is that the company has complete ownership and control over the plan, allowing them to tailor it to fit their specific needs and philosophies. These plans also provide significant cost control by allowing companies to budget for their annual benefits expenses. Furthermore, the plan design offers unlimited flexibility, making it easier for businesses to attract, reward, and retain high-caliber employees. Unlike traditional plans, Private Health Services Plans cover 100% of all eligible expenses without any pre-existing exclusions or deductibles. They are also much simpler to understand and navigate compared to complex traditional plans.

A Variety of Benefit Plan Options

Private Health Services Plans offer an incredible level of flexibility when it comes to covering a wide range of eligible medical expenses. Unlike traditional healthcare plans that restrict you to specific services and limits on coverage, PHSPs are also designed to provide 100% coverage for eligible medical expenses without any restrictions on the type of services you require or how much you want to spend on any particular service. These plans include cost plus plans, health spending accounts, flexible spending accounts, extended health plans, drug plans, and dental plans.

Who Can Benefit from PHSPs?

Private Health Services Plans offer numerous benefits to a wide range of individuals. This includes business owners, their partners and family members, as well as employees and their loved ones, including common law and same sex partners. Many policies even extend coverage to surviving spouses and dependents of deceased employees as an extension of the non-taxable benefit received by the employee while employed. Retirees of a company can also enjoy tax-free premiums and reimbursements under a PHSP. Additionally, shareholders can also take advantage of the tax treatments, as long as they are actively engaged in the company.

What Types of Expenses Are Eligible under a Private Health Services Plan?

Private Health Services Plans are amazing! They offer you the freedom of providing coverage for an extensive range of eligible expenses…no square boxes, no restrictions on the type of expenses you may require or how much you may spend on any particular service! 100% coverage! CRA provides a guide of Eligible Medical Expenses that are acceptable expenses through a Private Health Services Plan. Some expenses that may interest you and your family are:

  • Prescription medication to ensure the health of those you love.
  • Access to all medical equipment and apparatus prescribed or medically necessary, such as wheelchairs, physiotherapy equipment, heart monitors, hearing aids or even CPAP machines.
  • Ambulance rides and semi or private hospitalization.
  • Professional services that you would consider more pro-active or holistic such as massage therapy, chiropractic, physiotherapy, acupuncture, naturopath and podiatry.
  • Access to necessary medical testing that have long waiting periods in the system, such as MRIs.
  • Access to additional medical investigation outside of the provincial health care system.
  • All forms of vision expenses including laser eye surgery, eyeglasses or contacts, and even prescription sunglasses.
  • All services provided by your dentist including basic, periodontics, endodontics, major (crowns and dentures) as well as orthodontics. Eligible Medical Expenses OR, visit CRA’s web site at

Discover the Advantages of PHSPs

With Health Risk, you can explore the various options available and find a plan that fits your benefit plan philosophy budget and healthcare needs. Don’t settle for generic healthcare services – discover the advantages of Private Health Services Plans today by booking a discovery session with Health Risk.


A Private Health Services Plan (also known as a PHSP) is an alternative to traditional health insurance. PHSPs have unique properties that other plans do not provide. Used by thousands of small business owners across Canada, a PHSP is a cost-effective way to provide health and dental benefits to employees. In simple terms, health and dental benefits offered through this plan are fully tax deductible to the business and received 100% tax free by the employees. There are no premiums, hidden fees, deductibles, copay, or complex policies.

For entrepreneurs and self-employed professionals, this effective tool can be used to cut your taxes and reduce your medical costs. The PSHP gives you the ability to write off health and dental expenses which can potentially create savings of more than 30% on medical and dental related expenses.

When it comes to provincial health plans, they give you access to basic medical services, while private health plans cover additional things that government health plans do not cover.

Cost Plus Accounts are an example of a PHSP – these plans allow a business owner to deduct 100% of their health and dental expenses as a 100% tax deductible expense.
The fact of the matter is that health, dental and vision plans are NOT insurance but rather, Fee For Service Plans that must be Third Party Administered either by insurance companies or actual businesses established as Third Party Administrators such as Health Risk Services.

A Private Health Services Plan, also known as Cost-Plus or a Private Health Trust, is an affordable, flexible option for small business owners to provide hospital and medical benefits to their employees, including extended health, dental and vision, and receive preferential tax treatment.

Cost effective and tax efficient, Cost-Plus plans can provide up to 100% coverage on all health, dental an vision-care related expenses. The Private Health Services Plan (PHSP) can stand alone or supplement existing healthcare plans that don’t offer full coverage or miss some types of coverage completely.

Many cookie-cutter plans miss out on services that an employer wants to offer his employees or they are grouped with less desirable coverage that make the whole thing cost prohibitive (think how the cable company used to charge for channels).

With a PHSP nobody pays for coverage that’s not used or needed, there are no monthly premiums to pay and the program covers all health-related expenses eligible under the Canada Revenue Agency Income Tax Act.

Available to incorporated employers and sole proprietors alike, the PHSP provides tax free health and dental services for themselves, their dependents, their employees and their employees’ dependents. All the services available through the Cost-Plus benefit plan are 100% tax deductible to the corporation or the sole proprietor.

The employer defines which employees participate in the plan and sets the level of coverage. The program is infinitely flexible in terms of coverage and much more inclusive than an out-of-the-box employee benefits program that can meet the needs of some but never of all of an organizations valued employees.

Strong companies know that if they look after their employees, their employees will look after their customers. This builds a strong culture and helps the company recruit and keep good people. And the best way to do this is to show your people that the company cares about them and their families, a Private Health Services Plan makes it easy to demonstrate that care.

The flexibility of the program makes it affordable for any business to offer outstanding primary or supplemental health coverage to their employees and Health Risk makes it easy by setting everything up and then administering the program for you.

Don’t wait, contact Health Risk today and ask them about a Cost-Plus program. They will explain how easy it is to set up and the terrific benefits you’ll be able to offer your employees.  Then tell your employees about the great new program you’ve put in place to protect them and their families.