Want great health coverage for your small business, while maximizing your tax savings?
Nucare provides Canadian Small Business Health Insurance plans that are customizable and change with the growing needs of your business.
Nucare provides simple cost-effective Small Business Health Insurance for Canadian businesses.
Our clients usually save 30% to 40% off their existing health care costs and in some cases as high as 60%. Nucare Health delivers healthy results for you and your finances. Nucare’s Small Business Plan is a Private Health Service Plan designed for small business owners with less than 5 employees. The Small Business Plan provides great health coverage for you and your employees while helping you save money.
Here’s how Nucare’s Small Business Health Plan benefits you:
- Tax Advantage
All your health costs are put into a “health spending” account which is 100% tax deductible. No longer will an unexpected cost come out of your pocket since your personal spending account will be there to use. Unused funds can be rolled into subsequent years. At the end of the year, send your accountant your Nucare Health statement, and watch your tax savings grow.“
Being Self-Employed, my options were limited for me and my family. With Nucare I got the health coverage me and my family needed while allowing me to write off the expenses.”
Alex L., 44, Self Employed with 2 children
- Health Coverage Plan
Nucare’s Self-Employed plan provides the flexibility and freedom to get the health care you deserve. Everything from braces to laser eye surgery can be covered by the plan. Stop spending out of pocket, and leverage a Private Health Service Plan to meet the growing needs of you and your family.“
Nucare Health provided me a way to meet the constantly changing health coverage needs for me and my family. Working with Nucare’s team was easy, affordable, and gave me peace of mind.”
Jennifer S., 37, Self Employed and mother of 1
- Government Backed
The Canadian Federal Government created the Private Health Services Plan in place to help Canadians to get the health coverage they needs by allowing self-employed individuals to write off their PHSP spending off as a business expense.
Because Nucare’s Health Spending Account is administered in compliance with Canada Revenue Agency, all contributions are recognized as a 100% business deduction in the year in which they were contributed.
How does it work?
- Each month, you put funds into your Nucare administered Private Health Service Plan like you would with any other health care plan. Automatic withdraws are available.
Plans start at $50/month!
- Submit your health care spending claims to Nucare and get covered right away based on the coverage you want for you and your family.
Nucare’s claims process is easy and quick. Payments are made daily
- At the end of the year, Nucare sends you a receipt for your tax return. Any unused funds carry over to the following year (indefinite for incorporated professionals, 2 years max for sold-proprietors)
Nucare’s clients have saved thousands of dollars while increasing their health coverage!
Unused contributions are returned to you.
Client Case Study
Business: Self Employed, Incorporated
Employees: Robert, $100,000/year income Robert is a retail store owner and his family incurred medical expenses of $2,500 for dental, physiotherapy, and prescription drugs. Living in Ontario, Robert has a marginal tax rate of 46% based on his earnings of $100,000.
Prescription Glasses: $500
Contact Lenses: $500
Dental Work: $1000
Prescription Drugs: $500
Total Healthcare Expenses: $2,500
As a self employed person, Robert needs to pay himself $4,630 in salary to get $2,500 after taxes to pay for his medical expenses.