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PHSP: In
1989, the Canadian Tax Act changed - health costs
paid by the business are 100% tax deductible yet the
employee does not have to declare it as income -
AS LONG AS
the employee enters in a contract with a PHSP administrator,
such as MedicalTax Inc.
A PHSP (Private Health Services
Plan) is not insurance.
MedicalTAX Inc. DOES NOT SELL
INSURANCE.
MedicalTAX inc. is a cost-plus "pay if and when
you use our services" administrator.
Even when an employee has
some insurance coverage (through a spouse, or otherwise) a
PHSP can be used as a TOP-UP plan to cover
deductibles or items not covered.
PHSPs, unlike insurance policies, are designed to be
inclusive, covering nearly all health care expenses.
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