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With today's rising healthcare and dental costs and an aging population, FLEXSAVE is an ideal way to maximize tax-deductibility, customize flexible benefits and reduce costs.
Increasingly, corporations are facing rising costs combined with more restrictive contract wording. With FLEXSAVE, corporations can take advantage of a new approach that could save up to 30% and provide increased flexibility and control. There are no limits or conditions* (*Provincial Medical / Travel Medical is available but not compulsory for Corporations).
Before 1998, there were only two ways for self-employed individuals to pay for medical and dental expenses:
. Many services are not covered and are subject to both deductibles and co-insurance.
. - No or little tax deduction due to the 3% medical tax credit rule. With FLEXSAVE, self-employed individuals and unincorporated entities can completely tax deduct money spent on all eligible healthcare services. FLEXSAVE can be used on
its own or in combination with existing group coverage.
- $1500 for each adult and $750 for each child. For example, a family of 2 adults and 2 children has a maximum benefit of $4500. This can be used by any one individual.
- Canada Customs & Revenue Agency ‘CCRA' requires an element of risk component for unincorporated/self–employed individuals. The element of risk associated with FLEXSAVE is Provincial Medical/Travel Medical insurance.
To enroll in FLEXSAVE, click here
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