Flexible Health & Dental Benefits for Small Business

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No Annual Fee! Setting Up An HSA Account Now & Making the First Claim

Full Name *

Email Address *

Phone Number *

Company Name *

Are you an incorporated business owner? *

What's Health Spending Account?

An Alternative, Flexible & Tax Saving Benefits for

Incorporated Professionals & Small Business

Health Spending Account (HSA) is a Canada Revenue Agency (CRA) approved method to provide medical,

dental and vision benefits in a tax efficient manner. The reimbursement is 100% TAX FREE to the employee and 100% TAX DEDUCTIBLE for the employer. It works very differently than traditional group insurance plan or individual health and dental insurance programs in that there are no ongoing monthly premium payments required. With this plan, you pay your claim as you go.

Additionally, other less conventional expenses that would not typically be covered under a traditional insurance plan may be covered under HSA such as Laser Eye Surgery, Nursing Home Care, Speech Therapist, Orthodontic Services, Insulin Treatment, etc.

For the incorporated professional, the employer is the corporation, and the professional is the employee. It's a best kept tax secrete to turn your after-tax personal medical expenses into a before-tax business deduction bypassing the need to pay income tax.

What're the Benefits?

Benefits to EmployER

Deduct eligible medical expenses 100%
Customized & flexible expense limits over other plans
Supplement current plan & control benefit costs
Retain and recruit talented employees
Company Administrators have 24/7 real time access to track activities and receive reports
Reimbursement payments to employees are made via electronic funds transfer (EFT)

Benefits to EmployEE

Reimbursement is 100% tax free
Decide how to spend benefit amount
Claim more eligible medical expenses than traditional plans
24/7 access to submit claims online by employees through their own personalized dashboard & view the status via app on iOS & Android
2 day turn-around time for claim reimbursement via direct deposit

How Does It Work?

Easy to set up, easy to use

Setup HSA Plan for the corporation and the employee(s)

Pay medical expense(s) by the employee

⦁ Employee visits a Medical Practitioner

⦁ Employee pays for medical expense

Submit claim(s) by the employee

Reimburse the money to employee via EFTs as tax-free benefit

⦁ HSA processes the claim & reimbuses the employee via EFTs

⦁ The corporation receives annual statement to claim 100% of the costs related to its HSA

Do I Qualify for An HSA?

You must meet the following criteria to qualify

1. Own a Canadian incorporated business

⦁ No limits on how many employees can be on the plan, even if just yourself.

2. Receive T4 Income

3. Want to save on medical expenses

An HSA works by converting out of pocket, after tax personal medical expenses into a before tax business expense. The savings are created by effectively writing off your medical expenses through your corporation.