Private Health Services

Rerinvest.ca

www.rerinvest.ca

Robert Reynolds CFP, GBA Certified Financial Planner Certified Group Benefits Advisor

Disability & Critical illness

Please contact us if you have questions or would like us to prepare a custom service package based on your needs.

Tel : Rick (250) 881-2423 Rob (250) 220-0495 email: info@rerinvest.ca Victoria Office, 670 Newport Ave Victoria, BC V8S 5C7 North island Office, 3713 Shoreline Drive, Campbell River, B.C. V9H 1L8

Hours: 9:00 AM to 5:00 PM Monday to Friday appointments are suggested

Enter Name

Enter Email

Submitting Form...

The server encountered an error.

Enter Your Message

Enter Phone Number

Private Health Services Plan If you are paying for your dental and drug expenses directly then you are paying too much income tax. For Instance: Say you have a $3,000.00 dental bill to pay. You actually have to earn closer to $4,000.00 because you will need to pay approximately $1,000.00 in personal income tax on the $3,000.00 of earned income necessary to pay your dental bill. ﷯ The facts are: Many small and large companies decide to set up a Private Health Spending Plan (PHSP) for their employees because there are no mandatory monthly premiums. Very simply, when an employee submits a medical claim to the employer the employer then adds a 10% handling/vetting fee to the claim i.e. $1,000.00 + $100.00 = $1,100.00. The entire $1,100.00 is tax deductible to the employer and the employee will receive back a $1,000.00 cheque "Tax Free" from the PHSP provider so that they are fully compensated for their medical/dental expenses. The employee is not taxed on the $1,000.00 refund cheque (that is the magical part). The company gets a $1,100.00 write off and the employee is reimbursed Tax Free. See List of Eligible Expeditures Note: There is normally a one-time Trust Account set up fee with Private Health Services Plan. • No Monthly Premium • No Medical Underwriting • No Co-Insurance • No Deductible • Wide Range of Eligible Expenses • No Upper Age Limits • Inclusive Definition of Dependant • Easy to understand Contact: Rick Reynolds CFP. CLU, ChFC or Rob Reynolds GBA FPSC Level 1 Private Heath Services Plan Details download link