What a PHSP Costs

There are only two costs you will ever pay to operate a Brock Health Administration Private Health Services Plan (PHSP):

1. A $100 one time registration fee is charged to set up your plan. There is no GST/HST charged on this fee. To register send a $100 cheque from your business account along with the Brock Health Registration Form.

2. For each reimbursement paid out by Brock Health to your Covered Employees, the business pays the full cost of the health service plus a 5% administration fee and tax on the administration fee. The total cost (health expense + admin fee + tax) is allowed as a deductible business expense. You only pay when your employees make claims. There are no monthly premiums to pay. And you can appreciate 95% of your costs end up in the hands of your happy employees.

Brock Health Administration offers one of the lowest cost combinations of registration fees and ongoing administration fees in the country. Even with fees this low, we are able to offer value add services such as Direct Deposit and Pre-Authorized Debits so you can do all your transactions by electronic funds transfer. Follow this link to see what Our Competitors are offering.

You Do NOT Pay Additional Fees For:

  • Monthly or annual premiums.
  • Setting up multiple Covered Employees.
  • Any changes, additions or deletions to your list of Covered Employees.
  • Any changes, additions or deletions to the class of any Covered Employees.
  • Multiple submissions in a year. Submit as often as you like or only once per year. The cost is just a flat 5%.
  • Any fees to keep your plan open, even if you do not make claims for a number of years. After 4 years of inactivity your plan may be closed; however, it may be eligible be reinstated upon request.

What Do You Get?

Tax conceptYour Private Health Services Plan (PHSP) is a contract with Brock Health Administration. As part of this contract agreement, Brock Health Administration commits to:

1. Pay the full amount of the eligible expenses, tax-free to the claimant. Our pledge is to complete the adjudication and issue a cheque within 5 business days of acknowledging receipt of the claim.

2. The Planholder receives an Annual Summary report detailing all claims under the Plan within 30 days of the fiscal year end of the business. This report outlines the full amount that is deductible from your business taxes in Canada.