Overview

Benecaid offers individual products as part of our Health Spending Account (HSA) solutions. Whether you are an incorporated professional, sole-proprietor, or an individual with a unique health financing need, Benecaid can provide you with an innovative Financing option to make life easier.

For incorporated professionals, Benecaid offers our HSA in the form of a Health and Welfare Trust (HWT). These “bank accounts” are 100% tax-deductible and can be used exclusively for financing your health-related expenses. Excess funds roll-over indefinitely and can be used for covering the costs of your health care needs year over year.

For sole-proprietors of unincorporated businesses, Benecaid offers a Private Health Services Plan (PHSP). This account is similar to that of an HWT with specific limits in terms of contributions and a 2-year forfeiture from date of deposit for making claims.