Cost-effective Health and Dental Benefits

 
 

Assureflex is the best way to transfer Income Tax Free funds for Health and Dental Care. Assureflex Health Spending Accounts provide benefits to obtain and maintain physical and mental health. All Participant and Dependent benefits are non-taxable.

 

Incorporated Employers

Health and Dental care is available to "bona fide" employees of corporations, who earn a salary, starting with only one employee. If the employee is also a shareholder, then annual maximums must be "reasonable", and not based on dividend income.

note: this is a Canada Revenue Agency requirement

Non-Incorporated Employers

Health and Dental care is available to "bona fide" and “arms-length” employees of a non-incorporated businesses. An actively employed owner can participate if annual maximums arranged are the same as those of the "arms-length" employees.

note: this is a Canada Revenue Agency requirement

Carry-forward of Benefits

CRA allows only one (of two available) options to carry-forward benefits:

  • carry-forward of remaining deposits, for up to 12 months only, or

  • carry-forward of eligible expenses, for up to 12 months only.

note: Assureflex uses the second option, as it's usually most advantageous

Assureflex collects and remits all applicable taxes.

note: this is an Ontario Ministry of Revenue requirement

HSA Tax Compliance