Segregated funds (or “seg funds”) are basically the insurance industry’s version of a mutual fund…with a few twists. Both mutual and seg funds are pooled investments where the investor deposits money with a professional money manager in return for units of the fund.
Also with fees being a concern and topic of conversation, you have more options now than ever to help you save more of your hard earned money. However, there are a few key benefits to seg funds that you can’t get with their mutual
Segregated funds can be a great addition to an estate plan. Don't you owe it to yourself to make sure you know all your options?
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Employers with as few as 3 employees and even Individual Corporations can take advantage of a Small Business Health Insurance Benefits Program. With BBD-Benefits By Design we can create a program, in collaboration with major insurers, which allows for plan design flexibility and customization to meet your corporate philosophy and objectives.
The Process for Employee Benefits
1. Strategic Discovery - Comprehensive assessment to determine your company and
employee needs and goals.
2. Plan Analysis, Report, and Design - Customized report detailing how to maximize your
benefits program and its cost-effectiveness.
3. Implementation - Solutions implemented and managed to ensure a smooth transition.
4. Communication - Education and materials provided to help your employees choose the right
options for them and their families.
5. Ongoing Service and Support - As your specialist I am always here for you to answer any
questions or concerns you have.
HEALTH SPENDING ACCOUNT (PRIVATE HEALTH SERVICES PLAN)
● An HSA is a Canada Revenue Agency approved method to provide medical,
dental and vision benefits in a tax-efficient manner
● The corporation can write off 100% of the costs related to its HSA
● All expenses reimbursed are Tax Free to the employees
TYPES OF EXPENSES THAT ARE COVERED
● The employee may claim for any medical expenses that are allowable under
the Income Tax Act: click for CRA details
● This is a very wide range of services that include many items that are not typically
allowed under a normal group benefits plan
THE MYHSA SYSTEM HIGHLIGHTS
● Plan Administrators and Employees have access to 24/7/365 Live Chat
● Administrator (HR person) & Employees have real time access to everything that occurs within their HSA
● There are no cheques and no Pre-Funding. myHSA works on Electronic Funds Transfer.
● Claims are done online (no paper) by employee through their own personalized dashboard.
● Apps available for iPAD, Android and iPhone devices
● 2-Day claim payment turnaround time
● NO Set-Up fees ● NO Monthly fees ● NO Fee for adding or deleting employees
● The ONLY fee is a Percentage Admin Fee + provincial taxes on each claim
Including but not limited to:
Cost plan analysis and comparison
Evaluate funding alternatives
Plan design analysis
Cost containment strategies
Long-term benefits strategies
Personalized employee communication
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A financial plan needs information about your current financial situation. Start by gathering as much of your financial information as you can. Estimate anything you don't know, and update the figures later. To start with, you will need information on:
To fully review your current situation, you will also need general information on wills, powers of attorney, income taxes and insurance policies.