The Benefits of Providing Employee Benefit Plans

Written by News Channel 2 on January 11th, 2014. Posted in Health spending account cra, Tax tips canada, Travel medical insurance

Small business health benefits

In Canada, health care is delivered through a publicly funded health care system which is mostly free and has most services provided by private entities. However, many companies still like to provide small business health benefits to their employees, though mostly in the form of supplemental health care coverage or a retirement account like a 401K.

In most of Canada, health care costs are paid through funding from income taxes. However, there are some health care spending accounts for small businesses which provide benefits for employees of small businesses. The vast majority of businesses in Canada are made up of anywhe