Flexible Health & Dental Benefits for Small Business

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

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.

How Does an HSA Save My Money?

Cost Comparison: After Tax (no HSA) vs Before Tax (HSA)

Let’s use an example of an incorporated business owner in Ontario. She pays herself a salary of $100,000 and has a marginal tax rate of 43.41%. In the upcoming year, she expects to spend $4,000 on her family’s medical and dental costs. She has no plan of insurance in place. 100% of the cost is going to be paid out of pocket.


Medical Expenses

Income Taxes

Total Cost

HSA Plan

(Before Tax)





Medical Expenses

Fees + Sales Taxes

Total Cost

No HSA Plan

(After Tax)




What Medical Claims Are Eligible?

What Our Clients Say About Us

What's the Investment to Set Up an HSA?



No Monthly or Annual Fees

  • An administration fee of 10% of the eligible claim amount plus applicable taxes depending on province of residence (please refer to chart below)

That's it, start savings with an HSA

Request to speak with one of our Licensed Advisors

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