Reduce Your Healthcare Costs – Save Up To 35%


Welcome! As a valued member of NAGAB and in association with IFG Financial Services, you are now able to customize a benefit program that offers you and y our employees the most flexible, tax effective approach to benefits available today! At NAGAB, we are continuously working to find product and services for you, your family, your employees and your business. In conjunction with IFG Financial Services we would like to introduce you to a new strategy which makes healthcare spending affordable.

We've arranged the program with Benecaid Health Benefit Solutions. This unique plan offers 2 choices:

Benefit Plan 1:HSA

Benefit Plan 2:Add hsacomplete.™

A Health Spending Account (HSA) is an account that you contribute a set amount of money to each calendar year. Contributions are recognized as a 100% business deduction. Once contributions are made, funds are withdrawn to pay for medical services provided by licensed medical practitioners.

Using an HSA in Ontario You Could Save...

A professional making $75,000 needs to earn $7,664 to pay medical expenses of $5,000. Using an HSA, it costs $5,528 for the same services, a savings of $2,136:

Discover the savings you will receive from a Benecaid Health Spending Account versus paying in after tax $$ and claiming the medical tax credit.

Income Medical Costs Required Earnings Benecaid HSA Cost Savings
$40,000 $2,000 $2,654 $2,211 $443
$75,000 $5,000 $7,664 $5,528 $2,136
$100,000 $10,000 $14,596 $11,056 $3,540
Calculate How Much You Can Save

Benefit Plan 1: Health Spending Account

Pay your Family Healthcare expenses through your business and claim a business expense.

Creating a Health Spending Account (HSA) allows you to contribute tax free dollars to an account used exclusively for health and dental spending. You can set a different amount for single and family employees, an account for employees based on years of service, etc.

You can set the amounts for each class (minimum $50 monthly), and the contribution becomes a tax-deductible business expense. The benefits received are tax-free for the employee! This provides a great advantage to you and your employees, by allowing medical expenses to be paid the most tax-effective way
... with pre-tax dollars!

Set the amount you need to spend.

Benefit Plan 2: Add hsacomplete™

Benecaids drug and catastrophic health insurance plan protects you and your family against the unexpected and catastrophic: like medication for a life-threatening illness or a lengthy stay in a hospital The combination of a Benecaid Health Spending Account® and hsacomplete™ gives you complete peace of mind with the protection you need and the flexibility you want. .

Your HSA covers all expenses for you and your dependents for all services provided by licensed medical practitioners. These services include, but are not limited to:

  • Anti-Obesity Drugs
  • Assistive Mobility Devices
  • Audiologist Services
  • Botox Injections*
  • Chiropractic Services
  • Contact Lenses & Vision Care
  • Cosmetic Dentistry*
  • Cosmetic Surgery*
  • Dental Services & Surgery
  • Dermatologist
  • Drugs
  • Elderly Parent & Dependent Care
  • Fertility Drugs & Treatments
  • Hair Transplant
  • Laser Eye Surgery
  • Health Insurance Plans
  • Laser Eye Surgery
  • Laser Hair Removal*
  • Massage Therapists (RMT)
  • Medical Equipment
  • Naturopath
  • Orthodontics (Braces)
  • Orthopedic Shoes
  • Psychologist
  • Physiotherapist
  • Prescription Drugs
  • Prescription Glass/Lenses
  • Registered Dietician
  • Smoking Cessation Drugs
  • Special Needs Tuition & Care
*For medical or reconstructive purposes only. Please contact your financial advisor for more information.