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

2. Health Spending Account
Why Pay More?

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

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

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

6. 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.

7. 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.

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

9. 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!

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

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

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

13. 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!

14. 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

15. 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

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

17. 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

18. 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

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

20. 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

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

22. 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

23. Together, We are the Best