Corporate Care: Corporate CARE News

Achoo!

Fri, 30 Aug 2019 12:00:00 AM

Allergies got you down? Seasonal allergies can last a while, and you may be allergic to more than one thing, which could cause seasonal, or year round allergies. If you feel like your symptoms have been worse this year, you're not alone - annual allergen samples have been rising in many cities (Winnipeg included!). To complicate things, seasonal allergies can start at any age, and can trigger or worsen other ailments like asthma when allergens are around. To try to keep in check; closing windows and using air conditioning, staying indoors, vacuuming regularly, or using a dehumidifier can all help to relieve allergy symptoms depending on your allergy. If these aren't helping, antihistamines and decongestants are available over the counter. While over the counter aids do not qualify, any prescription medications can be claimed, including prescribed allergy drops. Keep your receipts and send them our way! And remember, Fall is just around the corner!

Be Summer Ready

Sun, 23 Jun 2019 12:00:00 AM

Welcome to Summer! Love it or hate it, summer is officially upon us. That means there are some extra pieces to keep in mind... Apply sunscreen whenever you’re heading outside, even cloudy days can leave you burnt. Drink lots of water, staying hydrated is especially important when it’s warm out in summertime. Take it slow, accept that your golf game may be a little rusty and you might not hit a home run on your first night out with the slow pitch team. Wear protective eyewear, prevent cataracts AND wrinkles around the eyes. Stick to your budget. It can be easy to overspend on pools floats and patio lunches and wind up stressed out once fall arrives. Give your diet a Berry Boost and grab some seasonal fruits and veggies while you can. Warm up and stretch before hitting the trails for a run. Even following these tips, some accidents are unavoidable and medical bills can add up quick. You can feel at ease making the appointments you need with a Private Health Service Plan in place. Save those receipts and contact us with any eligibility questions. Wear a lifejacket, a hat, and relax! Enjoy your summer.

Did you hear about the Cannibal Tax Accountant?

Wed, 06 Mar 2019 10:30:00 PM

She charges an arm and a leg! Tax season can be stressful for the best of us. We have gathered a few tips on things to prep and keep in mind this year when getting organized: -Step One is to choose a software, or make an appointment if you’re not comfortable doing taxes on you own. Many online options are available at low cost, or to find a tax clinic near you, go to Canada.ca/taxes-help. -Get your documents organized: T4, T5, receipts… gather everything together so you have everything handy when you are ready to file. If you scan your documents into the computer, this can be even faster so it just means a quick search rather than digging through files. -Open an account with CRA online. This makes it easy to access things like your Notice of Assessment, and RRSP contribution room. -Keep up to date on tax credits. Changes happen every year with credits being added, taken away, or can be indexed to inflation. Take a look at the CRA website for any updates. -Remember to report business activities even if you earned nothing. The loss will offset other income you might have and will save you tax. -Keep note of any credits that can be carried over or transferred, like tuition credits. -Check for accuracy and ensure all the information you’ve entered is complete. Check for any lines on your return that look different than last years to make sure your numbers are right, and that you can explain the differences. You have ten years to adjust for errors or omissions in tax filings! Remember to keep all receipts.

Make the Most of 2019

Wed, 02 Jan 2019 10:09:49 PM

The New Year is a great time to get organized. Organize your closet, organize your life. Clean up the spice cupboard, set some goals. Being organized helps put your ideas into action, in your personal life and at work. No time to organize? Start outsourcing work online, get your groceries delivered, or invest in a cleaning person to help you out, and take advantage of the extra time to yourself! Learn to play an instrument, go outside for a walk, get more sleep, learn a new language, or visit the museum. Set some goals by looking back on the last year, is there anything you would want to improve upon or do more of? Set small, manageable goals that can be met throughout the year. Maybe fitness and education are important to you – take some time to think of how you want to tackle your objectives. Try some different workout classes or online seminars and see what works for you and piques your interest before making any big commitments. Set a plan to see your goals through, whether it is a weekly Wednesday night study session, or signing up for a run club to get ready that 10K. Make sure your ideas are financially viable, and set a time limit. The New Year is great time to look back on your budgeting and re-assess to see what is and isn’t working for you while you factor in your new goals for the year. Budgeting apps are a good way to get started and get a clearer idea of your spending. While you’re at – download our new app! With it there is no need to send in receipts, just snap a photo of them and you’re all set. Simply send us an email and we will have you set up right away.

Welcome to Financial Literacy Month!

Mon, 19 Nov 2018 10:19:27 PM

Financial literacy month is a great time to take a closer look at your finances to see how to spend and save wisely. There are many aps out there to help you take a closer look at where your spending is going, and where you could fit in some savings. We all know every little bit helps coming up to the Christmas season! Here are some of our top tips: Set up a budget with clear savings goals. Once you have a schedule down on paper it's a lot easier to stick to. Those coffees and food truck lunches add up! Save fancy coffees and lunches out for special occasions or even just Fridays and you'll be saving in no time and will have something special to look forward to all week. Talk to your bank about how they can help you save a bit extra. Many banks have rounding up programs where you can round up your purchases and put the extra directly into your savings account. While you're at it, set up an emergency fund if you don't already have one. Take a look at your credit cards. Make sure you're using cards with benefits you can actually use. In addition, it never hurts to make a phone call to ask about lowering your interest rate or annual fee. Save your receipts for tax season. Bus passes, charity donations, adoption and child care expenses can all be claimed. You can even get free help at the Community Volunteer Income Tax Program (CVITP) at tax time to assist you in maximizing your return and finding out what you can claim. And our number one tip... Have a look at our Savings Calculator to see how much you could be saving as a business owner! http://www.e-benefits.ca/how-does-it-work/savings-calculator.cfm

Winter Woes

Fri, 05 Oct 2018 02:36:00 PM

Heading into the long weekend, it's hard not to notice that winter is well on its way! Thankfully we have you covered for for several small mishaps that may happen as the temperature dips. Pull a muscle shovelling? You can claim your RMT massage or physiotherapy. Lose a filling when you flew off your toboggan? Dental services qualify. Crash a bit hard playing hockey with your friends? Ambulance charges can be claimed as well. As long as you haven't been reimbursed by another plan, these expenses qualify! Just remember to keep your receipts. Give us a call or email with any questions and we can advise you what we can help out with.

Looking for Inspiration?

Sun, 19 Aug 2018 12:00:00 AM

When running your own business, sometimes it can be tough to stay ahead of the curve and innovate. If you have been stuck in a rut and need some inspiration, summer is thankfully a great time to re-energize! Try some of these tips to gain a new perspecrive and generate some new ideas : Read a book - Joining a book club is a great way to learn not only from some great authors, but also from the perspectives of others in the group. Reading is also a great way to unwind and relax at the end of a long day. Grab a coffee - Grab your favorite travel mug and choose a new cafe in town. Changing up your routine and meeting new people can be a great way to break out of a rut. Take a walk - Exploring a new neighborhood is a great way to generate new ideas, and get some exercise to clear your mind. Whether you walk just down the road or somewhere new, you never know what you'll find with an open mind and keen eye! Talk with coworkers - Having a group you can bounce ideas off of is always helpful in brainstorming new practices. Whether it is coworkers, friends, a mentor, or other businesspeople, a group to network with can be extremely valuable to gain insight and learn about new opportunities. Try something new - Whether it is related to your line of work or not, doing something you have never done before is a great way to learn and grow. If you fall out of your kayak, or your new filing system flops, at least you've tried and have a better idea how to set yourself up for your next attempt. What inspires you?

Are you ready for Summer?

Tue, 26 Jun 2018 01:27:14 AM

Summer is officially upon us! You can find us out on the golf course enjoying the weather this long weekend! This season is a great time to enjoy family time, and try some new activites. However, while you're out enjoying the sunshine, remember to stay sun smart. Always apply sunscreen, bring a hat, and ensure you have extra water. Nothing ruins a day at the beach like a sunburn. Also ensure you're stretching and not overdoing it at your softball game or are taking on too big of a hike. If you do, remember to save any receipts from chiropractor vists or physiotherapy to send along to us. Sometimes accidents are unavoidable, and medical bills can add up quick. You can feel at ease making the appointments you need with a Private Health Service Plan in place. Wear a lifejacket, take time to relax, and indulge in some ice-cream and BBQ!

What time is your appointment with the dentist?

Sat, 12 May 2018 04:06:27 PM

Tooth Hurty! Jokes aside - With playoff hockey in full swing, some toothless smiles (Stastny's is a winner!) may have reminded you of some of your own dental work that is overdue. Many procedures can be quite expensive, but the good news is that many of these qualify as medical expenses! Dental services paid to a medical practitioner or dentist; including teeth straightening, and even dentures and dental implants all qualify (with the exception of purely cosmetic procedures). Orthodontic work such as braces are also included, though again any treatments that are purely for cosmetic reasons do not qualify. Although toothpaste and toothbrushes are essential to maintaining good oral hygiene, they are not a qualifying spend. So go ahead and book that appointment (and save the receipt!) to get that summer smile you've been pinching pennies for.

What Qualifies?

Tue, 10 Apr 2018 11:09:53 PM

Frequently as you are putting together your claims, you may have questions for us regarding your expenses. Of the questions we receieve, some of the most common surround which medical expenses qualify, and which do not. Here are some helpful tips with some of our most common claims: Chiropractic Services Dental services (including teeth straightening! - however toothpaste or toothbrushes and teeth whitening procedures DO NOT qualify) Remedial Massage Therapy (must be RMT - health programs offered by resorts, spas or health clubs DO NOT qualify) Physiotherapy Prescription Drugs (non-prescription birth control devices DO NOT qualify) Naturopath Visits (medications, vitamins and herbs obtained over the counter however DO NOT qualify) Vision care Prescribed medical devices (prescribed cane, air purifier etc) Laboratory tests Ambulance charges It is important to keep in mind that any illegal operations, drugs or treatments do not qualify. Another important tip...any medical expenses that are reimbursed by other plans DO NOT qualify! Contact us with any questions regarding your expenses and what is eligible.

Things to Remember for Tax Season

Thu, 22 Mar 2018 10:41:10 PM

Tax season is in full swing! Whether you are filing for the first time or have your forms on auto-fill, there are some important points to remember: File your taxes This one seems like a no-brainer to those working, but even if you didn't receive any income last year, you may still be eligible for a benefit and credit payments such as GST/HST credit. Getting your taxes done on time, or even early, is beneficial to getting your return back faster, and limit any interest you may accrue if you owe money and file late. Get Help If you are new to filing taxes, there are many resources to assist in making the process as seamless as possible and ensuring you spend as little of your hard earned dollars as possible. The Community Volunteer Income Tax Program can assist you free of charge, as well as a variety of free certified software programs. Make the Most of your Claims As a sole proprietor, corporation or medical service provider, we can assist you to make the most out of your return by putting your health care payments to work for you. A Private Health Services Plan (PHSP) lets you expense your medical and dental costs (for you and your employees) through your company. This provides small business owners with a simple, cost-effective way to extend flexible health care benefits to their employees and provides the added benefit of large tax savings to the business owner. Keep those Receipts Don't throw out your receipts as soon as you file your taxes, you should keep supporting documents for at least six years in case you need to support your claims. Treat Yourself Take that refund and treat yourself!

Ready to save? Here is how to get started on your PHSP

Wed, 27 Sep 2017 02:30:00 PM

With no setup fee, no claim limits, no monthly premiums and a low 5% admin fee, getting your PHSP set up is a breeze. As an Owner Operator (Sole Proprietors), Small Business (Corporations), Medical Service Provider, or an employee, it is easy to get started on saving. All our documents are web based to make things easier for you, with the added benefit of getting to a Certified General Accountant for quick review. Visit our Get Started page, and send on over your info via email or fax. Once you have submitted our simple sign-up form, you are all ready to get started. Pay as you incur medical and dental expenses, and keep those invoices and receipts in a safe place! Using our Claims Form, either by hand or on the computer, tally your expenses. Add a 5% admin fee, a $10 processing fee, and GST only – this is your total health care costs for business expenses. Write a check on your business account to Corporate Care, or use our credit card authorization form online, enclose your original receipts, and deliver or mail these directly to us. Once our CGAs adjudicate your claims and check your totals, we will return your receipts with a check or direct deposit to your personal bank account. No set up fees, low cost admin fees, large tax savings. This is Corporate CARE Important Links: Get Started: http://www.e-benefits.ca/get-started/default.cfm Client Forms: http://www.e-benefits.ca/client-forms/

Top Reasons to ditch your Traditional Insurance Plan for a PHSP

Tue, 29 Aug 2017 09:07:10 AM

Have you noticed your premiums creeping up every year? Getting frustrated with paying premiums for programs you don’t use? Perfect vision, but need to see an RMT? Straight teeth, but need a chiropractor to straighten out that spine? We’ve got you covered. Regardless of your age and pre-existing conditions, a PHSP lets you claim only what you use, no more paying for services you don’t need. With less worrying about what and how much your insurance will cover, a PHSP lets you save money without stressing over high deductibles or coverage limitations. It’s time to ditch the “Reasonable & Customary” coverages, and generic brand drug limitations. For as little as a 5% administration fee, you, your employees, and your families can benefit from tax savings and health coverage for the services you really need and use. Are you an Owner/Operator, Small Business, Medical Services Provider, or their employee and want to learn more? Check out our website, give us a call, or see our last blog post all about What is a PHSP, and how do you Qualify

What is a Private Health Services Plan (PHSP) & How do I Qualify?

Thu, 10 Aug 2017 12:00:00 AM

A PHSP lets you expense your medical and dentals costs (for you, your employees, and family) through your company, creating a cost-effective way to extend flexible health care benefits and earning large tax savings for you. Instead of paying your medical expenses with your after-tax dollars or through premiums, you have the option to pay through your business using before tax dollars. By paying your medical bills as a business expense, you reduce your taxable income, generating more savings for you at tax season. You can claim 100% of a wide variety of medical costs (including braces, physiotherapy, vision care - even your spouse’s premiums!). Whether you are an Owner/Operator, Small Business, Medical Services Provider, or employee, you can benefit from these tax savings. No hidden fees, no monthly premiums, just a simple claims form filled out by hand or on your computer. No set up fees, low cost admin fees, large tax savings. This is Corporate CARE.

Tax Free Benefits

Tue, 03 Sep 2013 03:19:00 PM

As a small business you are looking to save at every corner but it does not have to come at the cost of your employee benefits. With Corporate Care you can provide all the medical benefits that much larger companies provide at a fraction of the cost. We do this through the use of a private health service plan. The Corporate Care plan has no sign up fee and no monthly fee and is completely customizable for you and every one of your employees. It is simple and easy to use. You can sign up on our website in under 5 minutes and start saving the same day. By running your personal health and dental benefits through Corporate Care, a third party administrator, business owners can write off their health and dental expenses through their business. This is a personal tax-free benefit to the owner. If you extend this out to your employees by way of a health spending account, it’s a wonderful tax-free benefit for your employees, too. Other tax free benefits that may interest you: Overtime meal allowances: Since 2009 Canada Revenue agency no longer considers a meal to be a taxable benefit if an employee is working overtime. To a maximum amount of $17 Non-Cash gifts under $500: As an employer you are allowed to give non cash gifts worth up to $500 a year without it being considered a taxable benefit. Post-secondary scholarships for your kids: For all your employees that have kids this is a popular one, as an employer you can provide your employees children with scholarships for post secondary education the scholarship must be declared by the employees children. The scholarship cannot be used for primary or secondary school. 2017 Update: Rules for gifts and awards A gift has to be for a special occasion such as a religious holiday, a birthday, a wedding, or the birth of a child. An award has to be for an employment-related accomplishment such as outstanding service, employees' suggestions, or meeting or exceeding safety standards. It is recognition of an employee's overall contribution to the workplace, not recognition of job performance. Generally, a valid, non-taxable award has clearly defined criteria, a nomination and evaluation process, and a limited number of recipients.

Fun in the Sun

Tue, 02 Jul 2013 04:21:00 PM

With summer finally on the horizon Canadians will be able to enjoy many outdoor activities and hours spent in the sun. It’s also important to remember to take safety precautions that come with spending time in the sun. When you are outside in the heat one of the most important things to do is stay hydrated. Heat stroke is a very dangerous preventable condition that should be avoided at all cost. Other precautions that should be taken are to wear loose fitting light weight and light color clothing. In addition be wary of medications that affect your ability to stay hydrated and dissipate heat. If you are spending the day outside it’s important to use proper sun protection or limit your time under direct sun rays. Remember that you can also sunburn on cloudy days too. Even the most prepared and carful person have unexpected unavoidable medical expenses. Whether you need that chiropractor after pulling a back muscle mowing the lawn or wakeboarding or prescription medications to help you conquer a bout of poison ivy, Corporate Care is there to provide you with your own custom Private Health Service Plan.

Colossal Cost for Healthy Teeth

Thu, 06 Jun 2013 04:02:29 PM

Most employees don’t know are the details of their traditional health and dental plan and what dental expenses are covered. These traditional plans automatically deduct the monthly premium from your paycheque but most employees do not know what limitations there are on these plans. Understanding the details of your dental insurance plan is a difficult and tricky ordeal and often has hidden restrictions. For example your coverage may only allow one cleaning per year even if you have no other dental expenses. For other employees that have children that require orthodontic work, these costly procedures can add up quickly and can exceed their dental coverage. One of the biggest benefits of Corporate Care is that is gives the employee flexibility of what health care expenses are covered. Corporate Care (a private health service plan (PHSP)) allows the business owner to provide flexible benefits to their employees. This allows each individual employee to decide where they want their health coverage dollars to go. If an employee has healthy teeth they can choose to spend majority of their benefits on a different health expense like chiropractic care. If an employee has children with orthodontic expenses they can choose to spend their health benefits there. Both health benefits are covered and employees are empowered to make their own health care decisions.

Why you should offer employee benefits?

Fri, 31 May 2013 09:53:05 AM

Once you have great employees in your company how do you improve your odds of keeping them? One way is to offer a good benefits package. Many small businesses believe that offering employee benefits is too costly. This may help your bottom line in the short run but could hurt you in the long run, if you can’t retain your good employees. Each employer is required by law to make payments towards the following: Unemployment Insurance Workers Compensation (If you work in a hazardous environment) Canadian Pension Plan Paid vacation, holidays Benefits you are not required to provide include: Health plans Dental plans Vision plans An effective way to provide these benefits is through a private health service plan (PHSP) such as Corporate Care. This type of plan has the least restrictions and is the most affordable for you and your employees. For as little as a 5% administration fee over and above the cost of the medical expense, you can offer a health benefits plan to your employees that can match any budget you set forth.

Private Health Service Plans verses Employee Health Benefit Plans

Tue, 21 May 2013 03:34:00 PM

You may be asking yourself what are the differences between private health service plans and employee health benefits plan and why do I care? First and foremost, we all know employee benefits are expensive. This blog is to help you make an informed decision and save you money when providing benefits for your employees. PHSP (private health service plans) and employee health benefit plans are two different types of plans. A PHSP is what is called a cost plus plan, meaning you pay the cost of medical expense plus an agreed upon fee for the service. This differs from a typical employee health benefits plan where you pay a monthly fee you pay for the plan which does not vary whether you are using the service or not. This means if you have $1000 coverage for each employee and your employees don’t incur any medical expenses that year you still pay the $1000. If you have a PHSP, you pay as you go. Meaning if an employee only incurs $100 in medical expenses that year, you only pay for the $100 plus the fees. This saves you from spending an extra $900 in benefits. PHSP’s are also more flexible then the standard employee benefits plan. For example most benefit plans have many restrictions. You may only be able to spend $200 in dental with your $1000 plan. With a PHSP you can spend your $1000 coverage on anything you want whether it be a single expense or many different types of medical expenses. PHSP’s cater to the individual needs of every employee. In short, PHSPs can be a very cost effective way to offer health and dental benefits to your employees. Find out more about Corporate Care, a PHSP with one of the lowest fees in Canada.

Gluten-Free Products

Wed, 08 May 2013 01:18:51 PM

Incremental Cost of Gluten-free products, a claimable medical expense If you suffer from celiac disease (gluten intolerance) you are entitled to claim the incremental cost associated with the gluten free purchases as a medical expense. What is Incremental Cost? Incremental cost is the difference in price between a gluten free product and a similar non gluten free product. Incremental cost is calculated by subtracting the cost of the non gluten free product from the cost of the gluten free product. For example if a loaf of bread costs 3 dollars and a gluten free loaf costs 6 dollars the amount you can claim is 3 dollars. What Food is Eligible to be claimed? Usually food items are specifically marketed and made for gluten free diets. Such items include, but are not limited to muffins, bread, bagels, and brownies. Baking ingredients are also allowed where the patient is suffering from celiac disease. These items include but are not limited to, rice flour and gluten free spices. Such items can only be claimed when they are exclusively consumed by the individual with celiac disease. What documents are required to support a claim for the medical expense tax credit? · A letter from a medical practitioner confirming the person suffers from celiac disease and requires gluten free products as a result of that disease. · A compiled list of all gluten free items purchased We ask that you keep the following supporting documents in case Canada Revenue Agency asks to see them later.