Private Health Services Plan (PHSP)

Flexibility is what a navancorp PHSP provides small business owners and their families. Totally customizable, business owners and their employees are in full control over their own PHSP. Small business owner? Independent incorporated consultant?

Cover you, your employees and families with a navancorp Private Health Services Plan. Smart benefits for smart people. 

What is a PHSP?

A Private Health Services Plan (PHSP) (oftentimes also referred to as a Health Savings Account - HSA) is a Canada Revenue Agency (CRA) approved health services plan for Canadian Business owners that allow them to deduct as an expense medical and dental costs through their company. This is a great, cost-effective way to provide flexible health care benefits to your employees with the potential for huge tax savings.

What is the Cost?
  • A one-time Enrolment fee of $49 (no taxes) for new plans

  • Enrolment fee is waived if you move to navancorp from another provider

  • A 10% Administration Fee on claims, plus applicable taxes

  • No hidden costs

  • No monthly premiums

Why a navancorp PHSP?
  • There are no age limits or health questionnaires

  • Very low cost when compared to traditional insurance plans

  • Approved health claims are a non-taxable benefit to your employees

  • The PHSP is funded entirely by your business using before-tax money

  • All business costs associated with the PHSP are 100% deductible

  • A navancorp PHSP can also be used to augment traditional group health benefit plans



Employee (Plan Member) receives medical service:


Pays for medical expenses out of pocket

Obtains original receipt(s) from medical service provider​



Employee (Plan Member) then:

  • Completes the navancorp PHSP claim form

  • Attaches the original  receipt(s)

  • Submits claim form and receipts to the Employer for submission



Employer (Plan Owner) sends the following to navancorp:

  • Completed navancorp PHSP claim form

  • Original medical expense receipts

  • Business cheque or electronic transfer to cover cost: medical expense + administrative fee + taxes



navancorp then:​

  • Fully reviews every claim item for eligibility and compliance in accordance with current CRA tax rules

  • Provides the employee with tax-free reimbursement of the medical expense incurred, usually in as little as 5 days from receipt

  • Provides the Employer with a tax receipt for the total expense to claim as a valid business deduction.