• ... our goal is to help you pay less tax !

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  • Private Health Services Plan { PHSP }

  • 100 % Coverage | No Monthly Premiums l Tax Deductable

  • Private Health Services Plans are being used by over 54,000 small business owners across Canada. 

    The Private Health Spending Plan { PHSP } was introduced as a cost effective means of providing health and dental benefits to employees without having to make a monthly premium commitment. You need to sign a contract with a third party provider to be able to provide the benefits tax free to your employees, and claim the expense on your corporate tax return.

    Elite Business Services ltd is a Registered Certified Professional with the Canada Revenue Agency - ID # K6747

    • We set up your PHSP in compliance with Canada Revenue Agency ("CRA") guidelines
    • We make certain that any claims are eligible so the plan stays onside with CRA
    • We are available to answer your questions regarding your private health services plan
    • We protect the privacy of your personal / medical information
  • Are your medical expenses not tax deductable now ?

    No. This is a common misconception. Medical and Health care expenses are never tax-deductible on personal taxes, but instead are eligible for a tax credit only. If your medical claims are less than 3% of your taxable income in a year, you get no credit whatsoever. Now you can choose any 12 month period ending in the tax year in an effort to find a window that reaches the 3%, but by doing so you will cut out other months that do have legitimate expenses that can now not be claimed.

    Assuming you make the 3% hurdle, what you will now receive is a tax credit, not a tax deduction. Tax credits are paid out at the lowest tax bracket level regardless of your income and how much tax you were required to pay on that money when you earned it.

  • Employee-paid premiums to a private health services plan

    Are considered qualifying medical expenses and can be claimed by the employee on his or her income tax and benefit return. Include the amount that the employee paid on a T4 slip in the "Other information" area under code 85. The use of code 85 is optional. If you do not enter code 85, the CRA may ask the employee to provide supporting documents.

  • How It Works

    The Employment / Dependents have a maximum medical expense account to use for prequalified health services based on the level of coverage you choose.

    1. The Employee / Dependents Pay Medical Expenses - at the time and place of services.

    2. Employee Submits A Claim to the Business Center - we review the claim and send you an invoice for the amount + admin fees.

    3. Elite Business Services ltd - will process the claim - send you a receipt for the expense and reimburse the employee for expenses.

    { we will also provide you with a statement at the end of the year for your taxable deduction. }

    • Chiropractor
    • Dental
    • Optical
    • Hospital Upgrades
    • Prescriptions
    • Orthotics
    • Hearing Aids
    • Crutches
    • Diabetes Equipment
    • Braces
    • Pre / Post Natal 
    • Acupuncture
    • Dental Hygienist
    • CPAP Equipment
    • Pediatrician
    • Physiotherapist
    • Neurologist
    • Podiatrist
    • Psychiatrist
    • Dietitian
    • Ambulance
  • Transportation, Meals & Accommodation Expenses

    { for patient and accompanying attendant may be eligible if treatment is more than 40/80 km }

  • Packages Available

    The plan is used only when health related claims are processed for cost plus fees.

  • Level 1

    Based on 3% of your employees gross wage. Registrations fee of $ 100 + admin fees.

  • Level 2

    Based on 5% of your employees gross wage. Registration fee of $ 150 + admin fees

  • Level 3

    FLAT FEE predetermined by the employer. Registration fee of $ 200 + 5% admin fee.

  • Canada Revenue Agency { PHSP }

    Private Health Services Plan

    Simply register for a PHSP account to reward and retain valueable employees in the form of an Employment Benefit Plan. The total annual cost, including administration fees are 100% deductible as a business expense.

    Register Your Business