Health Spending Accounts 

A Health Spending Account is a Canada Revenue Agency approved method to provide medical, dental, and vision benefits to your employees in a tax-efficient manner. Your business can write off 100% of the costs related to your Health Spending Account and all expenses are reimbursed to the employee tax-free.

Types of Covered Expenses:

  •  The employee may claim any medical expense allowed under the Income Tax Act

Who qualifies?

  • As an employer, you have complete control over which employees are covered and the amount they have to spend 
  • The employees are sorted into class at the beginning of the benefit term, coverage limits are set on criteria designed by you and your broker
  • Employees can be added or removed from the HSA at any time 

What is the cost?

  • No set up fees
  • No monthly fees
  • No fees for additions/deletions of employees
  • The only fee applied is the administration fee set by the broker

How often do I have to contribute?

  • Pay as you go 
  • Withdraws are only made from the employer's bank account when a claim is made