Health & Wellness Benefits Maximize & Grow Your Business BUSINESS OWNERS & CORPORATIONS nbBenefits Health & Wellness Benefits Maximize & Grow Your Business

Health Spending Account Why Pay More?

Health Spending Account What is it? A method to provide health benefits for business owners and their staff

Topic of Discussion Who is eligible? Benefits Costs to Employer Compensation for You

Eligibility Self-employed, Incorporated, Limited Companies or Charitable Organizations Employee Size (1 or more) For employees and their dependents.

1) Small Incorporated Business (1-5 Employees) Provide tax free health benefits to owners and their employees Costs are 100% tax deductible to the business The company designs the plan.

Health and Dental Plan No physicals, No age limits and No pre-existing condition exemptions Pay as you go – no monthly premiums required Plan can be modified specifically to an employee and their dependents’ health care needs.

Employee Benefits Covers 100% Revenue Canada Approved Medical and Dental Expenses including: Laser eye surgery Glasses Orthodontics Prescription drugs Naturopathic Alternative treatments and more

Employee Health & Dental Benefits Adds Health spending $$ to employees’ current health plan. Recover premiums from existing health plan coverage Claims are processed online or through iphone or Android APP’s & paid quickly A Great Tax Planning Tool!

Employee Wellness Benefits Adds Wellness & preventative care $$ to employees’ current health plan Employer designs the plan but Employee can allocate per year the % & Type of Benefits for their personal use Eg. – Daycare, Gym membership, Alternative Health Care, Personal Development Courses, Fitness Training, Equipment Benefits are taxable to the employee, however, provide an excellent value to employee retention while they stretch the employees’ $$

Costs Set-up Fee $290 + $40 per employee + GST Catastrophic & Travel $105/year Expense Cost + 10% + GST

BUSINESS OWNER VS EMPLOYEE 10/09/2018 BUSINESS OWNER VS EMPLOYEE BUSINESS OWNER REVENUE EXPENSES TAX NET INCOME EMPLOYEE INCOME TAX EXPENSES NET INCOME

Employee has a $3000 Dental Expense (1-5 employees) WITHOUT HEALTH PLAN $5000 Salary Less $2000 Taxes (40%) = Net Salary $3000 Employee pays the Dentist No Re-imbursement!!! WITH HEALTH PLAN Employee pays Dentist Submit Expense receipt Company pays Plan Provider 110% of expense = $3300 Employee is reimbursed $3000 Tax Free!

2) SELF – EMPLOYED (no corporation) Limited to $1,500 benefit per adult and $750 per child (under age 18) Catastrophic + Emergency Travel Insurance $105/year mandatory

3) Benefits for a Large Business (> 6 EMPLOYEES) Employer sets benefit level Benefit levels may vary by job classification, reducing overall costs Can provide employees with a tax-free top up to their existing health plan Can be offered as an incentive to different levels of employees

PRACTICE FINANCIAL MANAGEMENT 10/09/2018 PRACTICE FINANCIAL MANAGEMENT VACATION FUND DAILY SAVINGS PROTECTION FUND CASHFLOW EQUALIZER GROWTH FUND

Compensation to Field nbBenefits HSA 50% ($290 + $40 per employee) + 3% claims submitted by the employees, then it goes through the Grid Referrals may be made to specialists and compensated for those referrals

YOU HAVE OPTIONS… Key Person Insurance Buy Sell Agreements Provides $$ To Keep Company Running in case of Death or Disability You Die I Buy, I Die You Buy Universal Life Insurance Split Dollar Critical Illness Insurance Coverage Today, Use Your $$ Tomorrow Disability Insurance Survive and have $$ Company Still Thrives Monthly $$ If Hurt Or Sick

AND SOLUTIONS… Debt Management Contingency Fund Succession Planning Health Plans Office Overhead Group Benefits

BUSINESS OWNER RELATIONSHIP MARKETING Home & Auto Mortgage Insurance 10/09/2018 BUSINESS OWNER RELATIONSHIP MARKETING Home & Auto Insurance Mortgage Brokers Accountants Banker Tax Planning Specialist Investment Broker Insurance Broker Succession Plan Specialist Estate Planning Specialist

Additional Benefits nbWorkshops – Traditional Health & Dental Insurance Individual & Group plans are available Eg. Group Home & Auto Insurance Additional Benefits to follow - keep watching

nbBenefits Mastermind Group nbTV beginning March 27th time to be determined Group across the country to work together to roll this program out Product providers will be available for training and to answer questions Marketing material will be developed or is readily available

Together, We are the Best