Supporting Canadian Employers · Established 2000
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.
Rest easy knowing that your plan is safely controlled by you, the policy owner.
Design an a la carte plan that works specifically for your needs, and diversify your coverage.
Never experience unexpected costs again knowing that you have control over your own plan.
Now and into the future, know that your plan will remain flexible and versatile.
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.
Private Health Services Plans offer the flexibility to choose the coverage that works best for you. With a variety of plan options available, you can find the right fit for your healthcare needs and budget.
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:
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.
Health Risk’s PROMISE to you is that we will work with you to create and implement a Private Health Services Plan that is just as unique as your needs! By combining your health coverage needs, plan design, vision and budget, we can customize a flexible PHSP that gives you greater control over how you manage eligible health expenses.
