HEALTH and WELFARE TRUSTS or HEALTH SPENDING ACCOUNTS
 are NOT recommend because:

           1.   Revenue Canada controls your plan
           2.   they are not insurance contracts. Insurance companies accept risk  for
                 pennies on the dollar. With these types of programs you  carry the risk !        
           3.   many companies are in the low corporate tax bracket. When you add the
                 administration fees, GST/HST, the premium for Stop Loss insurance and 
                 Out of Country travel  insurance, the savings  provided by these plans
                 is minimal and not worth excepting and carrying the financial risk of a claim 
           4.   if you are a sole proprietor the allowable level of coverage permitted by
                 the government is lower than benefits provided in an insurance contract 
           5.   the Stop Loss Insurance option does not cover pre-existing conditions
           6.   there is no life insurance or disability insurance, options that provide
                 employees with cost effective financial security     
           7.   I have an employee benefit plan, for any size business, see Group Insurance Plans

 

Bruce A Hollett & Associates
401-1630 Pandosy Street 
Kelowna  BC V1Y 1P7
voice 250-861-1006 or 1-866-861-1006  fax 250-861-6177, e-mail  questions@telus.net