Pricing
Two fees. Three if you raise your limit.
A PHSP isn't insurance, so you're not paying for risk. You pay once to set the plan up, and a percentage when you actually use it. The only other charge is optional: a small annual fee if you want more room than the standard $15,000 annual limit.
One-time setup
$375
per plan, plus GST · flat, no matter how many employees you cover
Referred by an advisor? A valid referral code on your application waives the setup fee entirely ($0).
Per claim
10%
of the expense amount, plus GST on the fee · only when you claim · no minimum, any amount
- No monthly premiums
- No renewal fees (plans renew free)
- No per-employee charges
- No fee to close the plan
Optional: only if you raise your limit
Every plan includes a standard annual limit you set for each employee, up to $15,000 per person, at no extra cost. Need more room? Add enhanced coverage at the start of a plan year in $5,000 blocks: $100 per block per year, plus GST, subject to our review. On enhanced plans the claim fee drops to 8% only on the amounts your enhanced coverage covers. Your standard and carried-forward limit stay at 10%. Most clients never need this. For them, two fees is the whole list.
$100 /yr per $5,000 block
A worked example
Say your family's dental and optical receipts add up to $2,000. Here's exactly what happens:
| Eligible expenses (reimbursed to you, tax-free on a qualifying plan) | $2,000.00 |
| Administration fee (10%) | $200.00 |
| GST on the fee (5%) | $10.00 |
| Your corporation funds (tax-deductible on a qualifying plan) | $2,210.00 |
Compare that with paying personally: at a 42% marginal rate you'd need about $3,448 of pre-tax income to cover the same $2,000. Run your own numbers.
Common questions
Is there a limit on how much I can claim?
You set each employee's annual reimbursement limit: anywhere up to $15,000 per person per plan year, which is both the default and the standard ceiling. Give everyone the full $15,000, or set lower limits for some or all employees; the control is yours. Any unused room carries forward for one year, so a quiet year isn't lost. There is no minimum claim. Submit any amount.
What if someone needs more than $15,000?
You can add enhanced coverage at the start of a plan year, in $5,000 blocks for $100 per block per year (plus GST), subject to our review. On enhanced plans the administration fee stays 10% on reimbursements within your standard and carried-forward limit, and drops to 8% only on the amounts your added enhanced coverage covers. Standard plans are simply capped at their available limit.
When is my plan effective?
Your plan takes effect once our staff approve your application, usually within a business day or two of applying. From then on, simply keep your receipts and claim when you're ready.
Who counts as a dependent?
Your spouse or partner, children under 18, children under 25 while they're attending full-time post-secondary education, and a child of any age who is dependent on you because of a physical or mental infirmity (CRA expects a signed statement from a medical practitioner to be available in that case).
How do I pay Medallion?
Your corporation funds approved claims (expense + fee + GST) by pre-authorized debit from its bank account. Reimbursements are sent to your personal account by direct deposit, twice a month.
Is the administration fee deductible too?
Yes. The full amount your corporation funds, including our fee and the GST, is a deductible business expense.
Can I claim premiums I already pay to another plan?
Yes, premiums you pay for other health coverage are themselves eligible: your share of group benefits deducted from a paycheque (the health and dental portion, e.g. Sunlife) and personal plans like Blue Cross. The employer-paid share and any life or disability portions don't qualify, and expenses the other plan reimbursed can't be claimed again.
I'm the only employee of my corporation — do I qualify?
Often yes, but it deserves an honest answer: CRA has published concerns about plans that cover only a shareholder and their family, and benefits to a shareholder are only tax-free when received as an employee (actively working in the business, ideally with T4 income), with limits comparable to what an arm's-length employee in the same role would get. Our plan design helps you meet those conditions: a binding annual term, limits elected and locked in advance, and staff review of every application and enhanced-coverage request. Whether they're met in your case depends on your circumstances, so we recommend a conversation with your accountant, and we're happy to join it.
What if I'm a sole proprietor?
CRA's position is that cost-plus plans don't qualify for unincorporated businesses, so Medallion plans are for corporations only. If incorporation might make sense for you anyway, that's a conversation worth having with your accountant.
or ask us anything first