Turn Personal and Employee Health Expenses into Business Savings with HealthPlus

If you’re incorporated—or in the process of incorporating—you should hear about a tax-effective way to handle medical and dental expenses. If you’re paying out-of-pocket for expenses like massage therapy, prescriptions and vision care, you’re missing out on valuable tax savings.

What is HealthPlus?

HealthPlus is a Healthcare Spending Account (HSA) that allows your corporation to cover personal and employee health expenses. Your corporation’s payments are a tax-deductible expense while the reimbursements are a non-taxable benefit to you and/or your employees.

How It Works:

• An expense is incurred by you or your employee
• The receipt is submitted to HealthPlus
• Your corporation covers the cost via HealthPlus
• You or your employee receive a 100% tax-free reimbursement

There are no monthly premiums or enrollment fees—it’s 100% pay-as-you-go – and it can be used on its own or to supplement a group benefits plan.

For a full list of eligible expenses, click here.

Take Action:

If you’d like to learn more about whether HealthPlus is a fit for you, please contact us at (416) 391-3764 or todd.roberts@protectfinancial.ca.