A recent article from Benefits Canada discusses the importance of a regular comprehensive health assessment (CHA). A CHA involves 12-15 diagnostic tests necessary to assess the state of your health for the next year. CHAs can be crucial for spotting health problems early.
The author points out research showing that healthier companies’ financial performance exceeds that of the overall market performance, and suggests using the CHA as a talent acquisition and retention strategy.
Rather than paying the direct cost of the assessment (a CHA from The Medcan Clinic will cost $2,595), there are tax advantages to including a CHA in your organization’s benefits plan. Benefits plan premiums are tax-deductible to the employer, and eligible medical expenses reimbursed through a properly defined benefits plan are not a taxable benefit to the employee.
There are a number of strategies for including expenses like the CHA in a benefits package:
- Make the CHA available through a healthcare spending account
- Create a flexible benefits plan with fixed benefits
- Build a customized private health insurance plan
Each of these strategies has advantages, both for employers and employees. Your benefits provider can help you determine the plan that best meets the needs of your company and your employees.
At The Benefits Trust, we believe in the importance of preventative care and early detection. We have helped many clients incorporate CHAs into their benefits packages.
>> The Benefits Trust will help you build a better benefits plan than you can get anywhere else. Contact us to customize the perfect plan for your organization.
- Medcan’s Executive Health Plan
- How to Use Your Benefits Plan as a Business Tool
- Phasing in Employee Benefits by Seniority