While corporate sponsored health plans provide employees protection from the expense of drugs, dental, vision and other healthcare, they also provide a tax-efficient form of compensation. Health plans in Canada, also called Private Health Service Plans (PHSPs), are a deductible expense to the corporation and a non‐taxable benefit to employees. This means that employees can arrange, through a PHSP, to have medical bills paid on their behalf, without attracting income tax.
Qube offers a simple and cost-effective PHSP kit for small businesses. In contrast to similar plans that charge ongoing fees, we can help you set up a tax-compliant PHSP where a one-time flat fee gets you a comprehensive Plan Kit and all the necessary training needed to self-administer your own corporate health plan.