Private Health Services Plan (PHSP)

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.

Stay tuned for the introduction of our TOTALHealth™ program! To be launched in 2023.