Health Spending Account (HSA)
Are you the owner of a Canadian incorporated business?
You need an HSA (Health Spending Account)
Like all Canadians, you have regular routine health and dental expenses each year. Trips to the dentist for you or your family, getting new glasses, prescription drugs, chiropractor visits and more.
Some of these costs might be covered if you or your spouse has an insurance plan, but the expenses that go above your plan can be claimed with an HSA.
What if you don’t have a traditional insurance plan?
Many business owners find traditional insurance plans can get expensive. So if you’re paying for all health and dental expenses personally out-of-pocket, the HSA is even more valuable.
If you have employees, ask about setting them up on an HSA. Cover their health & Dental expenses up to a yearly limit of credits. No monthly premiums. Pay only what is used.
Consult with an HSA advisor to learn more
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What are the benefits?
The HSA turns out-of-pocket health & dental expenses into business expenses.
Without an HSA, anything you spend on health and dental comes from personal, after-tax income. With an HSA, use company dollars to find the HSA and get reimbursed for your expenses tax-free.
The savings are substantial.