As a small business owner, you can have a benefits plan that’s right for you, your family, and your employees. If you own a profitable business in Canada, incorporated or not, you are eligible.

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No limits, deductions, or maximums for owners

100% Fully tax deductible business expense

Set limits for employees and control costs

No medical evidence required

Benefits Coverage for Small Business Owners

Get 100% coverage with no limits and pay a fixed monthly contribution based on your estimated annual health and dental expenses. If your spouse has a benefits plan, this plan will pick up any portion or expense that is not paid by your spouse's plan.

  • Coverage for drugs, dental, vision, paramedical, and much more.
  • 60 day emergency travel coverage
  • Catastrophic drug coverage up to $1Million Lifetime

Benefits Coverage for Small Business Employees

Give employees the flexibility they want with complete cost control for you with a Healthcare Spending Account. You'll never have to worry about your premiums increasing due to excessive claims.

  • Same coverage as owner but with total cost control
  • Offer different amounts by class of employee
  • Monthly detailed billing

3 Examples of Small Businesses Who’ve Purchased the Smart Benefits Plan

Contractor with 2 Key Employees and Spouse has Benefits PlanDoctor with 2 Clinic Staff and Spouse has no Benefits PlanDesigner with Special Needs Child and Spouse has Benefits Plan

George is a contractor with 2 site managers. George’s spouse has a benefits plan through her work which covers 80% and has maximums on dental and drugs.

Instead of paying the difference with after-tax dollars, George sets up a Healthcare Spending Account with the Smart Benefits Plan through his business, and sets an annual coverage amount by estimating the portion not covered by his spouse’s plan, such as orthodontia for their children plus the 20% of expenses not covered. His Smart Plan also includes emergency travel coverage and catastrophic drug coverage.

George also provides coverage for his 2 key employees as a retention tool by offering them an annual Healthcare Spending Account of $1,500, plus emergency travel coverage and catastrophic drug coverage.

Every dollar George pays into the plan is now a fully tax deductible business expense.

Maya is a Physician with 2 administrative staff. Her spouse does not have benefits coverage. Maya wants 100% of all her family’s health and dental expenses covered with no limits.

Maya wants to make sure these expenses are going through the business as tax-deductible expenses, so she sets up an unlimited Smart Benefits Plan, and pays a fixed monthly contribution based on her estimated annual health and dental expenses, which can be changed throughout the year. She owns any surpluses or deficits. Her Smart Plan also includes emergency travel coverage and catastrophic drug coverage.

Maya also wants to provide coverage for her staff by seniority. She provides her senior employee with over 10 years of service with a $2,500 annual Healthcare Spending Account, and provides her junior employee with less than 5 years of service with a $1,500 annual Healthcare Spending Account.

Every dollar Maya pays into the plan is now a fully tax deductible business expense.

Carlos is an independent interior designer. His spouse is a teacher with generous benefits, but they have a child with special needs who requires $20,000 in orthopedics and speech therapy expenses annually. Carlos’ spouse’s plan has a $500 limit for both orthopedics and speech therapy.

Instead of paying the difference with after-tax dollars, Carlos sets up a $19,000 annual Healthcare Spending Account with the Smart Benefits Plan through his business. His Smart Plan also includes emergency travel coverage and catastrophic drug coverage.

Every dollar Carlos pays into the plan is now a fully tax deductible business expense.

Frequently Asked Questions (FAQ)

What are the advantages of setting up a benefits plan for my small business?

You pay for medical and dental expenses for you and your family anyway, so doesn’t it make sense to pay them through your business in the most tax‐effective way possible? All your health and dental care expenses are covered when administered through a benefits plan and 100% of the cost of the plan is a tax deductible business expense. It’s a no‐brainer. You’ll save money and gain protection for your family.

What if there is more than 1 owner?

No problem. Our plan can accommodate all owners such as a practice with multiple business partners. You have the option to set an equal annual amount for each owner or to set up 100% coverage with no maximums. If you choose to have unlimited coverage, a report can be provided at year end for cost sharing purposes that shows the total claimed by each owner.

If my company grows, will I outgrow this plan?

No. As your company grows, we will help you transition to a more suitable plan at every stage of your success. We’re with you all the way.

We have plans that cover:

You to a Few

A Few to a Bunch

A Bunch to a Lot

Ready to get started? Call your advisor or download the enrollment package.


 
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Eligible Expenses Include:

  • Paramedical Practitioners: such as Physiotherapy & Massage Therapy.
  • Vision Care including Laser Eye Surgery, Contact Lenses, Glasses & Examinations.
  • Medical Facilities including Convalescent Homes & Substance Abuse Facilities.
  • Medical Devices such as Orthotics, Hearing Aids & CPAP machines.
  • Nursing Care to help you recuperate in the comfort of your own home.
  • Expenses Related to Disabilities including special programs tuition, tutoring and home or vehicle modifications.
  • Dental Services Orthodontic & Major Services including Dental Implants.
  • Out of Country Expenses for non-emergency expenses while travelling.
  • Prescription Drugs excluding only over-the-counter medication.
  • PHSP Premiums including any employee-paid premiums for health care or dental care benefits.
  • Private Hospital Room
 

Our Administration Fee is All Inclusive

  • Claims submission by mobile claims app, online claims portal, email, fax, and mail.
  • Daily claims adjudication and payment.Claims will be processed within 1-3 business days, 99% of claims are processed in-house within 24 hours.
  • Claims payments by direct deposit or cheque.
  • Employee and administrator inquiries handled by our client service specialists through telephone, fax and email interaction.A member of the Benefits Trust client service team will answer your call, you will not have to navigate a system to find a human being to speak with.
  • Maintenance of accurate employee benefit records, including Life Insurance beneficiaries.
  • Monthly billing statements (by division and by department as required), identifying benefits costs for each employee in each division.
  • Account changes and billing adjustments carried out by The Benefits Trust.
  • Formal benefits plan documentation to satisfy all legislative requirements concerning private health services plans prepared by The Benefits Trust contract specialists.
  • Complete Administration Manual which clearly outlines procedures and provides forms for notification of employee status changes.
  • Online administration for enrollments, changes, and terminations.
  • Monthly financial status reporting, including the current month, year to date, and prior year to date for on-going monitoring and trend analysis.
  • Employee information meetings at implementation, and regularly as needed.
  • Employee communication materials such as benefits brochures and booklets, announcement memos.
  • Wallet certificate cards provide each member with their contract number and individual certificate number, coordinated with electronic dental.
  • Facilitating insurance claims with the various carriers.