Talent Development Centre

Contractor Quick Poll: How do independent contractors cover their medical expenses

Towards the end of last year, we shared a post about health insurance options for independent contractors in Canada. It described two specific routes if you’re looking for coverage – standard insurance plans similar to those typically offered by employers, and Private Health Services Plans (PHSPs) which allow your contracting business to provide a non-taxable reimbursement for health expenses. Of course, there is also the option to forego any health insurance, possibly because you’re already fully covered through a spouse or you’d rather risk that any medical expenses will be less than insurance expenses. This month’s contractor quick poll seeks to find the most common practice among Canadian IT contractors.

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