A Health Spending Account (HSA) lets your company reimburse employees for health and dental expenses that provincial health care doesn't cover, like glasses, physiotherapy or orthodontics. Employees get flexibility; you set the budget.
We help you set up an HSA with a clear annual dollar limit for each employee. When it is set up to meet Canada Revenue Agency rules, an HSA can be a tax-efficient way to offer benefits, without some of the complexity of a traditional group insurance plan.
What we help with
- Explaining how an HSA works and what expenses are eligible
- Setting annual limits by employee or class
- Comparing an HSA with, or alongside, traditional group insurance
- Getting set up with an administrator and explaining it to your team
How it works
- Talk budgetWe learn what you want to spend and who you want to cover.
- DesignWe set limits and rules that fit your business and CRA requirements.
- LaunchWe help with setup and explain the plan to your employees.
- ReviewWe check in each year to see whether it still fits.
Common questions
Are HSAs only for big companies?
No. They are popular with small businesses and incorporated owners because costs are predictable.
Is an HSA tax-deductible?
When the plan is set up properly under CRA rules, claims are generally deductible to the business and non-taxable to the employee. Confirm details for your situation with your accountant.
General information only, not personal financial, tax or legal advice.