What is a Private Health Services Plan (PHSP)?
A Private Health Services Plan (PHSP) is a CRA APPROVED PLAN – Canadian tax-free vehicle for financing the health care costs of business owners, their family and employees.
FlexSave™ is a tax strategy that allows incorporated and unincorporated (with arms length employees) businesses to tax-deduct their employee benefit plan health and dental expenses in a tax-effective and cost-efficient manner. It is designed to provide employees with a tax free benefit for qualifying medical expenses they incur, paid for by their employer. The employer may be permitted to deduct the full amount as an operating expense.
