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Business And Health

Finding small business health benefits appears to be getting harder and harder to do. This is due to the limitations placed on policies such as refusing coverage for conditions, which are pre-existing. Your employees must have coverage now for this reason. This can really put a dent in your budget though as health insurance premiums are very high. The business owns the plan and the limits are based on your personal needs. You have control over which health cares streams you are interested in. The only limitation is that it must be considered health care as defined by the government. As you are the plan administrator, you are allowed to deduct all of the medical costs from the income of your business. There are no premiums and no percentage that you turn over to a middleman. Some items will require that you obtain a prescription from a doctor to prove that the expense is directly related to your health care needs. A list of Allowable Medical and Dental Expenses is offered by Revenue Canada to help you determine what qualifies and what does not. Choose a company to support you in setting a health plan that will also support you with understanding and managing your plan. By doing so, you can attract better employees, ones who have confidence working for you knowing that their health care needs will be taken care of. As a business owner you get your benefits tax free as an employee benefit, lower the taxable income of your corporation, take a lower income from the company and reduce your personal taxes as a result. Judging how materialistic our society is and how little attention is given by our educational system to develop the unique talents and interests of individuals, we still believe that happiness is outside of ourselves. We continue to look for love in all the wrong places. We still believe that we can ‘do’ happiness, or ‘get’ happiness through more stuff. Business and material success do not necessarily make us happy. If they did, Americans should be some of the happiest people in the world. Polls have actually shown quite the contrary, and we have frighteningly high rates of depression, obesity, debt, and disease despite high-income levels. The answer lies in realizing that the path to happiness is an inner journey.

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