Traditional health and dental benefits are tied to insurance. Old style Plans have a common list of eligible expenses. To control costs Insurers put limits on eligible expenses. This is why so many Plans are dominated by Co-pay, Low pay and No-pay provisions. By viewing benefits as tax-free compensation, not insurance, employers have much more flexibility... and this makes benefits relevant to all employees.

How does it work:
        • The Employer funds the Benefits. They create a Health Spending Account (HSA) for each employee... it is like having your own personal benefit bank account you can use to fund health expenses... and you do not pay any tax on the money that comes out of your account.

        • The definition of expenses is much more liberal than conventional group insurance plans. All health services provided by Registered Health Professionals in Ontario and 100% of all allowable medical expenses permitted by the Canadian Revenue Agency (CRA)

        • The employer maintains complete cost control and plan design. No surprises at renewal time.

        • Maintain a basic Health Spending Account or add benefits such as travel insurance, employee assistance plans (EAP) and catastrophic coverage.

Jim Barnard

I am very dedicated to providing high quality information about our financial products and services and in turn, helping my clients achieve financial success.

I am committed to providing you with high quality advice, superior service and information you will need to make sound financial choices.