Plans & Eligibility

Plans & Eligibility

We offer 3 customizable plans to ensure there is a program suitable for every type of business entity and corporate structure with employees, regardless of the size of the business or if there is an existing benefit plan.

See below to help determine which plan or plans are best for you and/or your employee's.
Contact us for a professional, no obligation consultation and for assistance in setting up your customized plan. Call 780-448-0783 or email info@innovativebenefits.ca.

What is a private health services plan?

To be eligible for Corporate Cost Plus or Executive Cost Plus

• Your business should be incorporated as one of the following:
• ABC manufacturing ltd or limited.
• ABC construction inc or incorporated.
• ABC engineering corp or corporation.
• Professional corporations are applicable if you are a licensed medical practitioner, health practitioner or dental practitioner, also many Professional Accountants (CPA) & Lawyer’s in Public Practice are eligible.
• 12345 Alberta Ltd and perhaps with an operating name. ie - o/a ABC plumbing services.
• Your business generates active business income.
• You perform services for the business to generate business income.
• You are paid employment income.
• If you do not receive earned income (i.e., only dividends), technically you are not an employee; you may still be able to participate in a PHSP so long as you are actively engaged in the activities of the business and that your T5 dividend is considered active income vs passive income.
• If you only receive dividend income, please consult Innovative Benefits at 780-448-0783 to determine eligibility. You can still establish a Health Spending Account PHSP to provide tax-free benefits for your employees.
• For executive plans, all executives must be included and there must be an insured or traditional Group Benefit plan in place for the other full-time employees of the business.

Like a traditional employee benefit plan, all arms-length (non-related) full-time employees are eligible and must be included in the plan or offered to participate but opted out. The only exception to this would be when there is already a traditional group benefit plan in place, typically through an insurance company. (Reference our “Executive Cost Plus” plan)