What is an HSA account? An HSA (Private Health Services Plan) is a Canada Revenue Agency approved method to provide medical, dental and vision benefits in a tax efficient manner. A corporation can write off 100% of the costs related to its HSA. All expenses reimbursed are tax‐free to the...
Read PostTurn Your Personal Medical Expenses into 100% Corporate Tax Deductible Expenses
One of the most common questions we ask business owners is, “How do you pay for your personal medical expenses that are not covered by your benefit plan?” 95% of the time, the response we hear is, “out of my personal pocket”. As soon as we hear that, we know we can save that person a...
Read PostPotential Gaps in your Long Term Disability (LTD) Group Benefits Plan
1. Length of Coverage: The key in designing a group benefits plan is to help you understand and allow access to the full amount of coverage that you need and pay for. Though long-term disability (LTD) is extremely valuable, the insurance may have constraints, such as, you may be able to claim LTD...
Read PostTop 6 Tips To Manage Your Group Benefits Plan
Why Is It Important to Provide Group Benefits? Glassdoor did a survey which significantly (79%!) determined that employees prefer group benefits over a salary increase. The most valued insurance coverage, in this study, were comprehensive health benefits; health benefits include prescription...
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