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FREQUENTLY ASKED
QUESTIONS ABOUT PHSPs
Who Qualifies?
What are the Premiums?
What Does the Plan Cover?
What are
Examples of Items NOT Covered?
Are the
Health Expense Refunds Taxable?
What is the Role
of Olympia Trust?
How Do I Register?
Click here to download Accountants and Technical Bulletins
(PDF)
Who Qualifies?
You qualify if you
operate a Canadian incorporated business or limited
company. The size of the business is not a factor.
If you are a
self-employed individual (proprietorship), you are
also eligible. There are some restrictions however. Please
contact us for
specifics relating to your business.
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What are the Premiums?
There are no premiums! That’s right. Our Private Health
Services Plan is a stand-alone, cost plus program that
operates by direct reimbursement of health care expenses to
you and employees.
To enroll in the
program, there is a modest one-time registration fee
(dependent on size of business). After that, an administration
fee is paid only at the time a claim is made. Large companies
have several options to customize their plan structure and a
maintenance fee is levied accordingly. All fees are modest and
100% deductible.
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What Does the Plan
Cover?
100% of virtually all medical, vision and dental procedures.
Especially beneficial for services not typically covered by
health insurance such as eye laser surgery, orthodontics,
out-of-country services and much more.
If you ......
- Go to the chiropractor
- See a dentist
- Wear glasses/contact lenses
- Take any type of medication
- Pay health insurance premiums
- Pay a portion of health care
costs and/or a deductible
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- Are planning elective surgery
- Require crown & bridge work
- Wear braces
- Wear a hearing aid
- Have dentures
- Travel for health reasons
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....you are covered!
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What are Examples of
Items NOT Covered?
- Health/fitness club fees, health programs offered by
hotels and resorts
- Illegal operations, treatments or drugs
- Vet bill for your pets!
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Are the Health Expense
Refunds Taxable?
No, the refunds are
received completely on a tax-free basis.
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What is the Role of
Olympia Trust?
Olympia Trust acts as
Trustee and Professional Administrator for your plan,
maintaining accounts as a basis for audit control and ensuring
all claims are eligible under the Income Tax Act.
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How Do I Register?
Please contact me (click
here). I will provide the appropriate forms for your
business and assist you with their completion. There is no
medical underwriting involved and age is not a factor in
eligibility. Once your application is processed, you will
receive plan booklets and claim forms, have full online access
to your account and we will take very good care of you!
Enter your details below and have an
information package emailed to you!
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