Private Health Services Plan (PHSP)
Flexibility is what a navancorp PHSP provides small business owners and their families. Totally customizable, business owners are in full control over their own PHSP. Cover you, your employees and families with a navancorp Private Health Services Plan. Smart benefits for smart people.
What is the Cost?
- A one-time Enrollment fee of $79 (no taxes) for new plans
- Enrollment fee is waived if you move to navancorp from another provider
- A competitive Administration fee on claims, plus applicable taxes
- No ongoing nor hidden costs
- No monthly premiums
Why a navancorp PHSP?
- There are no age limits or health questionnaires
- Very low cost when compared to traditional insurance plans
- Approved health claims are a non-taxable benefit to your employees
- The PHSP is funded entirely by your business using before-tax money
- All business costs associated with the PHSP are 100% deductible
- A navancorp PHSP can also be used to augment traditional group health benefit plans
What is a PHSP?
A Private Health Services Plan (PHSP) (oftentimes also referred to as a Health Savings Account – HSA) is a Canada Revenue Agency (CRA) approved health services plan for Canadian Business owners that allow them to deduct as an expense medical and dental costs through their company. This is a great, cost-effective way to provide flexible health care benefits to your employees with the potential for huge tax savings.
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