Example

Net income of $50,000 per year with family medical expenses of $1,600

WITHOUT Flexsave

COSTS    $1,600
( 3% of net income ) DEDUCT    $1,500
$100

TAX CREDIT*        $25

*based on a Combined Federal and provincial rate of 25%

WITH Flexsave

COSTS    $1,600
**ADMIN FEE (10%)**       $160
$1,760

TAX DEDUCTION*        $1760

*Medical Expense Tax Credit: The federal tax credit consists of 16% if expenses in excess of the lesser of $2,011 (for 2009) or 3% of the individual’s net income for the year. **applicable taxes apply and vary depending on the province in which you reside