Private Health Services Plan

What's The Cost?

Corporations

There is a one-time set-up fee of $200 to register Private Health Services Plan as a Health & Welfare Trust. There are no additional costs for incorporated companies or individuals to maintain their plan. Everyone pays a 10% administration fee + GST [on administration fee only] on actual expenses submitted through their plan. For example, if you spend $1000 on healthcare or dental expenses, you would submit $1000 + 10% + GST = $1107 to the trust administrator who would refund a cheque to you for $1000, keep the 10% adminstration fee and pass the GST to the government. Your total tax receipt for this expense is $1100 which is fully tax deductible to your corporation.

Unincorporated/Self-employed individuals

Sole proprietors pay the same one-time set-up fee of $200 to register their Private Health Services Plan as a health and welfare trust. There is a small additional ongoing cost for "BIZFLEX PLUS" in order for the sole proprietor to satisfy the rules for such a plan. "BIZFLEX PLUS" is a catastrophic health plan with a high deductible, along with a no deductible out of province travel plan designed to meet the requirements of a Private Health Services Plan.

The following outlines the cost of "BIZFLEX PLUS". Please note that this coverage is mandatory for sole proprietors but is optional for those who are incorporated.

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