What is a Wellness Plan?

Unlike a Health Spending Account, a Wellness Plan is not defined by Canada Revenue Agency. It is simply a plan provide by an employer to provide their employees with non-medical benefits. As such, all claims paid to any employee must be reported on their T4 as a taxable employee benefit.

Why use a 3rd Party, I can do this myself?

Correct, you can administer a Wellness Plan yourself as it does not require 3rd party trustees like a Health Spending Account. However, there is a major issue regarding privacy. An employee may not want the company to know which Club they are a member, what course they are taking, or what extra non-medical expenses they have. By turning this over to myFLEXplan they have complete privacy, we make the claim payments and provide you with the end-of-year accounting.

Why is myFLEXplan the best?

TOLCO Financial $trategies has been an industry leader in Internet access for employees, administrators and advisors since 2007. Add this to the flexible design alternatives and additional features and it is easy to see why myFLEXplan is your best choice.

What type of expenses can I claim?

Here you can let your imagination go wild! Design a benefit plan that best suits your company and your employees.