Private Health Services Plan
A CRA-approved PHSP lets your corporation pay for medical expenses as a tax-deductible business expense. Your employees receive benefits tax-free. No premiums, no deductibles, no claim limits.
Typical annual savings
$5,137
Coverage
Dental, vision, prescriptions, mental health, and more
Setup
Minutes, not weeks
Audit trail
Always preserved
The basics
A Private Health Services Plan is a CRA-approved health benefit structure that allows Canadian corporations to reimburse employees for eligible medical expenses as a tax-deductible business expense.
Unlike traditional insurance, there are no premiums, no deductibles, and no co-pays. The corporation funds only the actual medical expenses incurred.
CarbonFibre automates the entire process: plan setup, claims adjudication, receipt verification, CRA compliance, and reimbursement.
Why it matters
Spend on care, not insurance overhead.
PHSPs keep the money inside the business and turn qualified healthcare into a more efficient corporate expense.
Features
Pay only for actual medical expenses. No monthly insurance premiums eating into your budget.
Every dollar spent through the PHSP is a deductible business expense for the corporation.
Employees receive reimbursements completely tax-free. No T4 reporting required.
Cover any CRA-eligible medical expense: dental, vision, prescriptions, massage, physio, mental health, and more.
Extend benefits to spouses and dependents. Customize coverage limits per beneficiary class.
Your plan goes live in minutes, not weeks. No underwriting, no medical questionnaires.
Who it's for
Comparison
| Feature | Traditional Insurance | CarbonFibre PHSP |
|---|---|---|
| Monthly premiums | $200-$500+/month | None |
| Deductibles | $500-$2,000/year | None |
| Claim limits | Annual/lifetime caps | No caps (corporation-funded) |
| Coverage scope | Policy-restricted | Any CRA-eligible expense |
| Tax treatment | Premiums deductible, benefits may be taxable | Fully deductible, benefits tax-free |
| Claims processing | Weeks | Days |
| Setup time | Weeks of underwriting | Minutes |
| Premiums increase? | Yes, annually | N/A - no premiums |
Process
