FlexSave™ is a Private Health Services Plan (PHSP) that helps incorporated business owners and self-employed individuals with employees pay the health and dental expenses of themselves and their employees in a tax-effective and cost-efficient manner.
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There are many reasons why a business owner may consider FlexSave. Whether you already have an existing benefit plan and are looking for additional flexibility and cost savings, or have not yet put a plan in place, Flexsave may be the health & dental solution you're looking for.
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Access FlexSave forms including claims forms, administration forms, application forms, and emergency coverage forms.
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For a minimal cost, this optional coverage provides clients with protection should a catastrophic medical event occur either in province or while traveling. Available exclusively to FlexSave clients this plan offers two areas of protection in one plan.
Learn MoreAdding a Wellness Plan expands the expense categories to include things like naturopath, smoking cessation, gym membership, fitness equipment, family care/child care amoung others.
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Medical Practitioners Acupuncturist Anesthetist Chiropractor Dentist Dermatologist Gynecologist Massage Therapist Naturopath Neurologist Nurse Obstetrician Ophthalmologist Optician Optometrist Orthopedist Pediatrician Physician Physiotherapist Psychiatrist Psychologist Speech Therapist Surgeon |
Dental Treatments Braces Bridges Crowns Dental Cleaning Dentures Examinations Extractions Fillings Fluoridation Gum Treatment Oral Surgery Root Canal |
Medicine and Medical Treatments Alcoholism Birth Control Pills Blood Tests Cardiographs Contact Lenses Contraceptives Crutches Fertility Drugs Guide Dog Hearing Aids Hydrotherapy Insulin Treatment Lab Tests Laser Eye Surgery Metabolism Tests Post-natal Care Pre-natal Care Prescription drugs Private hospital room Radium Therapy Spinal Fluid test Splints Sterilization Vaccines Vasectomy |
Other Expenditures Artificial eye Artificial limbs Bathroom aids* Cat Scan Diabetic supplies Diagnostic Fees Diathermy* Eye Glasses Hearing impaired equipment Heart monitor* Kidney machine MRI Needle & Syringe* Oxygen Equipment Pacemaker Transportation relative to healthcare Walking aid Wheelchair X-rays |
| Funding Options | Regular Monthly | Internet Banking | Cheque | One-Time Withdrawal |
|---|---|---|---|---|
| Pre-funded Account | yes | yes | yes | yes |
| Pay As You Go | yes | yes | yes | |
| Funds Required for Claim | yes | yes | yes | |
In conjunction with SSQ Insurance, HUB Financial offers optional supplementary coverage to all FlexSave™ applicants. For a minimal cost, this coverage provides clients with protection should a catastrophic medical event occur either in province or while traveling. Available exclusively to FlexSave™ clients, this plan offers two areas of protection in one plan.
If you and/or your covered dependents require medical or surgical treatment outside your own province of residence, this policy will pay certain covered expenses to a maximum of $2,000,000.
There is no deductible associated with this component; however, coverage is limited to a maximum trip length of 60 days.
If you and/or your covered dependents require medical or surgical treatment due to injury, sickness or disease in your province of residence, this plan will then pay for the following covered expenses after an annual deductible of $1,500 per person per category is satisfied.
The plan will then cover up to $25,000 per category expense up to a combined maximum of $125,000 annually subject to a total lifetime maximum of $250,000.
The expense categories are: a) Semi private hospital room and board b) Private nursing (ordered or prescribed by a Physician c) Prescription drugs, sera and vaccines d) Ambulance (including air) e) Services of specific licensed practitioners f) Rental of durable medical equipment g) Accidental Dental coverage
| Available Plan Versions | Pre-Existing Condition Clause |
|---|---|
| Coverage to age 70 | Travel Coverage: No Catastrophic Coverage: 6 months* |
| Coverage to age 70-75 Available for new clients or upon existing insured reaching age 70 |
Travel Coverage: 6 months Catastrophic Coverage: 6 months |
| Stop Loss to Age 70 Rates2 | Stop Loss Age 70-75 Product Rates2 | ||
|---|---|---|---|
| Plan Type | Monthly | Plan Type | Monthly |
| Single | $16.37 | Single | $31.46 |
| Couple | $31.32 | Couple | $59.13 |
| Family | $39.90 | Family | $67.57 |
1. Please refer to the policy contract for full details on benefits and restrictions. 2. Rates are subject to change with notice * The 6 month pre-existing condition clause does not apply to the Coverage to Age 70 plan when there are 10 or more employees enrolled in the plan.
A Wellness Plan is a separate benefit category within a FlexSave™ account and has its own limit/amount of benefit. The Wellness Plan shares the same benefit period, unused benefit option and co-pay structure as the main FlexSave™ plan. Adding a Wellness Account to FlexSave™ provides plan flexibility allowing employees to:
• Enhance and maintain personal health and wellness • Pay for expenses not on eligible expense list, or those removed from list by CRA • Pay for expenses above main plan limits
Adding a Wellness Plan expands the expense categories in the plan to include things like:
• Health and wellbeing – i.e. naturopath, smoking cessation • Fitness activities – i.e. gym membership • Fitness equipment • Family care/child care • Professional services i.e. health assessments/health care
Wellness reimbursements to an employee are considered a taxable benefit to that employee. As such employers must provide totals on the employee T4.
In order to provide employers with the information necessary to report a taxable benefit on their employee T4, HUB Financial will provide an annual report of all Wellness claims paid for employees. This report will be automatically generated at the end of each calendar year.
