- Rising dental and medical costs
- After-tax dollars pay for medical dental & medical expenses
- Canada Customs & Revenue Agencies (CCRA) limits your ability to deduct expenses
- The higher your income tax the greater the cost is to you
Find a BETTER WAY and register an account with Advanced Benefit Solutions. Canada Customs and Revenue Agency (CCRA) federal regulations allows corporations and proprietorships to deduct 100% of their health care costs. As approved third party administrators, we can make your medical and dental expenses tax deductible.
There is no age limit or questionnaire!
What is covered?
100% of essential medical and dental expenses. Examples of treatments covered are:
- laser eye surgery
- fertility treatments
- prescription drugs
- naturopathic treatments
- alternative treatments
- dental implants
- orthodontics and more.
Treatments must be provided by licensed practitioners
What if my Spouse has a group Plan?
Frequently there will be procedures or portions of procedures that are not covered by your spouse’s plan. A health spending account can cover these costs.
Why use Advanced Benefit Solutions?
Revenue Canada (now CCRA) insists upon a 3rd party Trustee and Administrator to adjudicate for accuracy and to comply with Federal Laws. Advanced Benefit Solutions is able to meet these requirements through trained staff and continually updated computer software programs. Using the BETTER WAY you can deduct 100% of approved health and dental costs.
How much does a Health Spending Account cost?
Once your account is set up which is free, medical bills are sent to Advanced Benefit Solutions. You pay a 10% administration fee on the amount of the claim. In addition to this cost, you are charged GST and PST (where applicable) on the administration fee.
On a claim of $1000.00 the administration fee is 10% or $100.00. A further 5% is charged on the $100.00, which is $5.00. The cost of processing the claim is $105.00.
The total amount of $1105.00 is fully tax deductible and results in a tax break of approximately $230 – $429 (Alberta tax rates)