Benecaid Named to PROFIT 200 ranking of Canada's fastest-growing companies for fourth consecutive year

Company responding to growing demand for health benefits solutions that meet the diverse needs of Canadian entrepreneurs.

TORONTO, June 25, 2012 /CNW/ - Benecaid Health Benefit Solutions, a Canadian provider of employee benefit solutions for small and medium sized businesses, has been ranked among the top companies in the "24th annual PROFIT 200 ranking of Canada's Fastest-Growing Company's by PROFIT Magazine". This is the fourth consecutive year the Benecaid has been recognized in the PROFIT 200.

In the last three years, revenues have grown from $5.8 million to $8.7 million. Benecaid continues to serve the entrepreneurial market which has been the main growth driver.

Benecaid's Health Benefits Solutions
Benecaid continues to serve the entrepreneurial market.

With Benecaid's self insurance solution - FlexStyle®; an employer funds a reserve account to pay routine employee health claims. Benecaid administers the payment of claims, and returns unused funds to the employer. Since Benecaid pools claims with its other clients, it can mitigate the impact of significant health claims.

The Company also offers the Benecaid Health Spending Account® (HSA) which allows users to use tax-free dollars to cover their medical costs. Employers make the contributions on a pre-tax basis on behalf of themselves, and/or employees and families. As a stand-alone solution, or combined with hsacomplete™ drug and catastrophic health insurance, the Benecaid Health Spending Account is an ideal solution for self-employed individuals and small businesses to realize significant savings on their expected healthcare costs, and access insurance for unexpected health costs.

About PROFIT Magazine:
PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 29 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.PROFITguide.com.

About Benecaid
Benecaid is a Canadian financial services company focused on the delivery and administration of leading-edge employee benefit solutions to small and medium sized enterprises. Their innovative solutions deliver best-in-class benefit programs while managing the bottom line, and are designed to put control of health benefit costs back into the hands of the employer. Today, they are the premiere managers and administrators of Health Spending Accounts (HSA) and administrative services only (ASO) solutions for clients in a wide range of industries. With over 5,000 companies and 50,000 individuals now covered through Benecaid's solutions, Benecaid is one of the fastest growing health benefits companies in Canada.

Media Contact:
Christine Oliver
[email protected]
416 626 8786 ext 7248