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

           1.   CRA controls your plan ( as evidenced by the March 2010 Budget)   
           2.   the plan is controlled by Legislation, just like WCB or Work Safe. 
                 The employer carries the risk even if you have STOP LOSS coverage         
           3.   many companies are in a low corporate tax bracket. When you add  
                 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