A Health Spending Account (HSA) also Know as Personal Health Services Plan or Private Health Services Plan (PHSP), as well as Health Trust, is often the Best Insurance Solution, in Place of, or in Addition to, a Group Benefit Plan and is a Tax Deductible Expense to Your Company

The Most Comprehensive Coverage with the Lowest Premiums

While Group Benefit Plan Premiums Can be as High as 40% of your Healthcare Spending with Other Providers
HSA Premiums with ICC Benefits Are Only 10%

Perfect for a small business that is incorporated and has fewer than 3 employees, which is not eligible for a group benefit plan

ICC Benefits specializes in health trusts for individual small businesses that are incorporated. A health trust is often the right solution for their insurance needs. With a PHSP the company is self-insuring. It offers a way for you to legally pay for your Medical and Dental costs from your corporations bottom line pre-tax dollars. There is no monthly premium. You pay a preset percentage of your expenses to the trust company. You control and set the maximum amount of benefits. It saves the corporation taxes.

As well as large corporations that already have great benefit plans...
because Health Spending Accounts cover many healthcare services
that group benefit plans don't and Management can set their own limits

Most group benefit plans have very low spending limits for healthcare services like dental, dental hygiene, chiropractic, massage, orthotics or a better pair of glasses and as well, many healthcare services and prescriptions are not covered by many plans. With a PHSP, the business owner or management chooses the services that they want as well as any limits they want on any services that qualify under the health spending account guidelines. 

  • There are no monthly premiums, just a one-time set up fee.
  • Pay as you go. It is a flat 10% paid to the trust.
  • No maximums on paramedical.
  • Anything that is prescribed is covered.
  • Good for a one person corporation or with employees.
  • It is a legal way to take money out of your corporation tax free.
  • For Individual Health Insurance to help cover your Medical and Dental expenses

Eligible & Ineligible Expenses

Qualified Medical Practitioners

One who is authorized and/or licensed to practice in accordance to the laws of the province and certified according to their governing body.

  • Acupuncturist (R.Ac.)
  • Anaesthesiologist
  • Audiologist
  • Chiropodist
  • Chiropractor (DC)
  • Dentist (DH, RDH, DT, RDT, DMD)
  • Denturist (DH,RDH,DT,RDT,DMD)
  • Dermatologist
  • Gynaecologist (Ob.Gyn)
  • Massage Therapist (RMT)
  • Naturopathic Doctor (ND)
  • Neurologist
  • Obstetrician
  • Oculist
  • Ophthalmologist
  • Optician
  • Optometrist (OD)
  • Orthodontist (DH, RDH, DT, RDT, DMD)
  • Orthopaedist
  • Osteopath (DO)
  • Paediatrician
  • Physician (MD)
  • Physiotherapist (B.PhysT, B.ScPhysio, B.Physio, CPTA)
  • Podiatrist (DPM)
  • Practical Nurse (LPN)
  • Psychiatrist (C.Psych)
  • Psychologist (PsyD)
  • Registered Nurse (RN)
  • Social Worker (RSW, RCC, MFT)
  • Speech Therapist (SLP)
  • Surgeon
  • Therapeutic Massage Therapist (NHPC)
  • X-Ray Technician

Non - Qualified Medical Practitioners

Services and items provided by Non-qualified Medical Practitioners will not be reimbursed under the Plan

  • Any un-accredited or unregistered therapist or practitioner
  • Athletic Therapists
  • Doula
  • Holistic Health Practitioner
  • Homeopaths
  • Kinesiologist
  • Laser TechniciansOsteopath (DO)
  • Pedorthist
  • Reflexologist
  • Reiki Practitioner/Healer

Eligible Medical Devices and Equipment – If Prescribed

  • Devices designed to assist walking where the individual has a mobility impairment
  • Devices designed to assist a person to use bathtubs, showers or toilets
  • Devices designed to enable individuals with a mobility impairment to operate a vehicle
  • Devices used by individuals suffering from chronic respiratory ailment or a severe chronic immune system deregulation
  • Electronic or computerized environmental control systems for individuals with severe and prolonged mobility restrictions
  • Electronic speech synthesizers for mute individuals
  • Equipment that enables deaf or mute persons to make and receive telephone calls including visual ringing indicators, acoustic coupler, and teletypewriter.
  • External breast prosthesis
  • Extremity pumps or elastic support hose to reduce lymph edema swelling
  • Heart monitors or pace-makers
  • Hospital bed, if required in-home
  • Inductive coupling osteogenesis stimulator
  • Monitors attached to babies identified as being susceptible to Sudden Infant Death Syndrome (SIDS)
  • Optical scanners or similar devices for a blind individual to enable him/her to read print
  • Orthopaedic shoes or boots
  • Oxygen tent
  • Power operated guided chair installation for stairways
  • Power operated lifts and transportation equipment designed to allow access to buildings, vehicles or to allow wheelchair access to a vehicle
  • Rehabilitative therapy, lip reading and sign language training
  • Synthetic speech systems, Braille printers and large printon-screen devices that enable blind persons to utilize computers
  • Specially trained animals to assist blind, deaf, or severely impaired persons, including the cost of its care and maintenance
  • Syringes
  • Television closed caption decoders
  • Wigs if required as a result of disease, accident or medical treatment

Eligible Expenses

  • Ambulance charges
  • Active Release Therapy
  • Artificial eye or limb
  • Artificial kidney machine, including installation and operating costs
  • Basic cost of Medic Alert jewellery
  • Blood pressure devices
  • Blood test
  • Blood transfusion
  • Bone marrow transplant
  • Brace (limb or spinal)
  • Cardiographs
  • CAT Scan
  • Catheters, catheter trays, tubing, adult diapers and disposable briefs required by incontinent persons
  • Christian science counselling
  • Colostomy pads
  • Crutches
  • Dental services (crowns, fillings, cleanings, lab tests, etc).
  • Denture repair / replacement
  • Devices to aid the hearing of a deaf person including bone-conduction telephone receivers, extra-loud audible signals and devices to permit volume adjustment of telephone equipment above ‘normal’ levels
  • Diabetic supplies
  • Diathermy
  • Fertility treatments
  • Hearing Aid batteries
  • Hernia truss
  • Home-maker service & Home care (attendant must be a non-relative – only eligible when other household members are physically incapable of home care)
  • Injections
  • Insulin or substitutes
  • Iron lung
  • Laryngeal speaking aid
  • Lasik eye surgery
  • Liver Extract – inject-able for pernicious anaemia
  • Massage Therapy
  • Metabolic tests
  • MRI scan
  • Nicotine patch
  • Operating room fees
  • Organ transplant
  • Oxygen
  • Pre-natal/Post-natal treatments
  • Prescription birth control pills & devices
  • Prescription drugs
  • Prescription glasses / contact lenses
  • Private/Semi-private hospital room fees
  • Reasonable costs for adapting a residence to accommodate a disabled person (ex: wheelchair ramp, lifts, bath facilities, etc).
  • Reconstructive surgery
  • Rocking bed for polio patient
  • Spinal fluid tests
  • Stool examinations
  • Urine analysis
  • Vaccines
  • Vision Care
  • Vitamin B12 – for pernicious anaemia
  • Weight loss programs (medical portion only, for example nutrition counselling, lab fees for blood work)
  • Wheelchair
  • X-Ray

Travel Expenses

Medical expenses incurred while travelling may be eligible if you do not have alternate insurance, or if the service is not readily available in your locale. Travel must be necessary for services or expenses to be eligible and may include mileage, meals, accommodations, etc.

A medical doctor’s note must be included with your claim submission confirming necessity.

  • Meals and accommodations are eligible only if you travel a distance greater than 80 km. one way. Mileage is eligible only if you travel a distance greater than 40 km. one way.

For details of eligibility and rates, go to www.cra-arc.gc.ca/travelcosts.

  • If the expense was incurred while out of country, the claim must be converted into Canadian funds. To obtain the exchange rate applicable to the date the expense occurred, visit www.bankofcanada.ca/en/rates/exchform.html and record the information on the receipt. Alternatively, you can submit a copy of a charge card statement which reflects the conversion rate as at the date of the expense.

Eligible Medical Devices and Equipment – If Prescribed

  • Provincial Health Care Premiums are not eligible.
  • Premiums paid to any non-government medical or hospital care plan, ex: Blue Cross, Sun Life, etc. are eligible.
  • Emergency medical travel insurance premiums are eligible.
  • Premiums for disability, life, and trip cancellation insurance are not eligible.
  • Critical Illness and Long Term Care Insurance premiums are not eligible.

Ineligible Expenses

  • Acupressure
  • Antiseptic diaper service
  • Aromacare
  • Body Talk
  • Books, CDs, Movies, Music, Videos, DVDs, VHS
  • Cord Blood Storage – ineligible as it is not related to an existing medical condition or disease and is not a diagnostic procedure.
  • Electrolysis
  • Fees – for missed appointments, memberships, cancellations, lateness, courses
  • Gratuity (Tips)
  • Hair replacement
  • Health and fitness programs, expenses, therapy, equipment, and/or apparel
  • Heat Pads, Hot/cold gel packs
  • Hot Tubs / Whirlpools
  • Hypnosis
  • Ionic Detox
  • Iridology
  • Laser Services (such as hair or tattoo removal)
  • Liposuction
  • Massage Equipment (oils, beds, chairs)
  • Maternity clothes, baby photos
  • Medical expenses for which you have been reimbursed or are entitled to be reimbursed from other plans
  • Nicotine gum, Nicotine inhalers
  • NLP - neuro-linguistic programming
  • Non-prescription birth control devices
  • Non-prescription reading/sun glasses, sunglass clips
  • Nutripathic Services
  • Nutritional foods and supplements, even when purchased from a Nutritionist or Dietician
  • Over-the-counter medications, supplements and vitamins
  • Payments to a municipality where the municipality employed a Doctor to provide medical services to the residents of the municipality
  • Pedicures, Manicures, Make-up
  • Pillows, Bedding
  • Pre-payments
  • Reiki Treatments
  • Rolfing
  • Saunas, Infrared Saunas
  • Scales for weighing food
  • Shoes, Insoles
  • Telephone, Television, Movie, Cable Services/Rental
  • Tens Machine
  • Toothpaste, toothbrush, dental floss
  • Tooth whitening procedures, kits and strips
  • Tuina
  • Weight loss products
  • Yoga, Pilates

Cheryle Renwick

A very big thank you to Sid for his help with our business health trust. Sid was very knowledgeable and spent extra time with us to ensure that all of our needs were met in a cost effective manner.I believe that second opinions from professionals in the industry are key to ensuring that our business dollars are being well spent.Thank you Sid for sharing your knowledge and for looking after our needs in a timely and professional fashion.