How this program helps you
The PHSP, administered by Serre Financial, is a tax-effective way to reimburse yourself and/or employees for Health Expenses through a Business Deduction.
This is not an Insurance Program
- No Monthly/Annual Premiums
- No Deductible
- No Age Restrictions
- No Medical Requirements
- Sole Propreitor
- T4'd Employees of Incorporated Business (including directors)
- All Dependant Family Members & Spouses
When Can I Start?
- Effective Dates for Incorporated Businesses can align with fiscal year or be based on time of set up
- Self Employed individuals will be effective based on the current calendar year (January 1)
- Annual limit determined by Plan Sponsor
- Can be used to "top-up" for existing group coverage or as a stand-alone benefit plan
Self Employed Individual
- Annual limits determined by CRA
- $1,500 per Adult per year, $750 per Child per year
example: Family Unit of 4 = $4,500 ($1,500 each for owner & spouse, $750 for each child)
- Total amount for family can be utilized as needed
One-time set up fee as low as $300* for up to 5 employee participants - $22.50* for each additional employee added 10%* administration fee added to each claim submitted.
If you don't submit a claim into the PHSP, you don't pay into the PHSP
What happens to unused benefit dollars?
Incorporated businesses: have the option to carry forward any unused benefit dollars for 1 year, or** any expenses that go over the annual limit
Self Employed Individuals: have a "use it or lose it" policy; neither expenses nor credits can be carried forward.
For more information, call 1.866.996.7477
Ask to speak to a member of our PHSP team
or email firstname.lastname@example.org
*plus applicable taxes
**to be determined at plan set up