# Private Health Service Plans (PHSP) for Canadians



## cash (Mar 5, 2011)

I'm looking to sign-up for one to use for my small (1 person, me) business. Brock Health seems good. Anybody want to comment on them?....or recommend someone better?


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## corezz (Jul 10, 2012)

cash said:


> I'm looking to sign-up for one to use for my small (1 person, me) business. Brock Health seems good. Anybody want to comment on them?....or recommend someone better?


HEY i am with Brock Health! That's awesome! I remember asking in another forum the same question about Brock and another fellow member answered all my questions. 
So far i have been with them for 6-months. Pretty good. They are definitely the cheapest. I guess you know all their details so i wont bother to mention them. I got them for myself and after doing tax calculations it was siginicantly better than the lame medical expense on income returns. If you are a sole prop then there is a yearly limit of $1500. Any amount that goes over can be carried to future years until it is completely deducted. I have maxed out my limit for the year. Each time they get and process a claim they email you to let you know and depending how you set up the reimbursements you can either have it deposited to your account or mailed to you. Very good experience. If you arent familiar with PHSP then i did a quick hunt and found this synopsis on how it works.

If you have any other questions feel free to ask.


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## cash (Mar 5, 2011)

If Brock Health is the cheapest, is there a reason I shouldn't use them? I'm fully incorporated, so no annual limit on the deductions.


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## corezz (Jul 10, 2012)

Yup they are cheapest. And i have never had problems. Go for it!


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## Kail (Feb 7, 2012)

My company uses Olympia Benefits and I like them, but I don't know any different. Based out of Calgary too.

http://www.olympiabenefits.com/

Can't hurt to check them out, they have a live chat app too if you don't want to call.


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## assureflex (Oct 9, 2013)

Sorry to be a bit late on this, but I am a new member.

Please note that there are two types of PHSP. Namely Insured and Self-Insured, and the discussion is about a Self-Insured PHSP, which is known as a Health Spending Account. Please be aware that Administrators who offer Health Spending Accounts to unincorporated Owners only (without at least one arms-length employee on the plan) are acting contrary to CRA requirements. There must be at one arms-length employee, and the benefits must be the same.

Self-Insured PHSP (Health Spending Accounts are available to incorporated companies, starting at one bona fide Employee (earning salary, not just dividends).
Plans for Shareholders only are not allowed, but an HSA (where all the bona fide Employees are coincidentally Shareholders) are allowed, if the HSA plan is for Executives. Calendar yr. Maximums must be "reasonable under the circumstances". Maximum of no more than about 10% of active earnings is recommended.

We are Trustees and Administrators and have provided HSA plans since 1988.


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## YYC (Nov 12, 2012)

Brock Health is great. Quick turnaround on payments, only 5% markup (never found one lower). I've used them for years for my incorporated business and have nothing but good things to say. Feel free to PM me if you have questions.


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## assureflex (Oct 9, 2013)

*Nice mention for Brock, but please note:*

Administrators who offer Health Spending Accounts to unincorporated Owners only (without at least one arms-length employee on the plan) 
are acting contrary to CRA requirements. There must be at one arms-length employee, and the benefits must be the same. 

If you need some expert advise, contact us.


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## carstrucksplanes (Jun 9, 2015)

*Promedent is the cheapest*

Hey guys, 

the cheapest is definitely Promedent - only $50 per claim flat rate! and $150 sign up fee. That's it! Ive been with them for years now. no issues.
www.promedent.ca


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## GPM (Jan 23, 2015)

cash said:


> I'm looking to sign-up for one to use for my small (1 person, me) business. Brock Health seems good. Anybody want to comment on them?....or recommend someone better?


Haven't heard of Brock health. I am going to look into them. Olympia was the first I think, but a bit expensive at about 10% (at least in my day). Everyone I know is happy with them. I use cost efficient benefit plan. I think they are in Calgary. I'm very happy with them. 8% I think, but 5% if you refer another person. I referred my wife's corp and holding corp and have 5% for each. 

Just saw promident post. Where are they from? I like the cost!

What is the cost for Brock, and where are they from?
The plans are great for individual owners but also if you have minimal employees. Not sure of the maximum, but was cheap for 10 when I worked. And great for my wife as her and receptionist only.


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## daledegagne (Apr 6, 2015)

assureflex said:


> Sorry to be a bit late on this, but I am a new member.
> 
> Please note that there are two types of PHSP. Namely Insured and Self-Insured, and the discussion is about a Self-Insured PHSP, which is known as a Health Spending Account. Please be aware that Administrators who offer Health Spending Accounts to unincorporated Owners only (without at least one arms-length employee on the plan) are acting contrary to CRA requirements. There must be at one arms-length employee, and the benefits must be the same.
> 
> ...


Other than the shameless plug: +1 to this.


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## GPM (Jan 23, 2015)

carstrucksplanes said:


> Hey guys,
> 
> the cheapest is definitely Promedent - only $50 per claim flat rate! and $150 sign up fee. That's it! Ive been with them for years now. no issues.
> www.promedent.ca


Hi carstruckplanes. For promident what is considered a "claim" for the $50? I submit every bill once per year for my wife, 2kids and me. Is that 4 claims, or is each prescription, dental visit, etc a separate claim. One way is $200. The other is at least 12 dental appointments, and possibly over a hundred prescriptions?. 200 is too cheap to not change, the other is cheaper on 5%. Thanks for your help!


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## Cal (Jun 17, 2009)

I am sure a quick call to your accountant can clarify the CRA rules and regulations in this regard.


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