Save money on health care costs with Health Spending Account (HSA).

With a Health Spending Account, you can pay for your medical expenses and save on healthcare costs. HSAs are easy to use and available through most health insurance companies.

Click on one of the below topics to unpack your HSA:

What is a HSA Account

A health spending account (HSA) is a Canada Revenue Agency-approved method that allows personal qualifying medical expenses (e.g. health, dental, vision, massage, chiropractic) to be paid for in a tax-efficient manner.

Through myHSA, your corporation can write off 100% of all qualifying medical expenses. Qualifying medical expenses incurred by employees and their families can be reimbursed tax-free.

Who should have HSA

This product is ideal for business owners who are incorporated. It is the most tax-effective way to run health, dental and vision expenses through the corporation. HSAs substantially reduce actuarial, administration and adjudication expenses, reducing employer costs.

An HSA can be used as a standalone health plan or with a traditional insured plan. Traditional insured health plans typically offer restricted health benefits and dollar
maximums. By adding an HSA, you can save more on personal medical expenses.

How does HSA work

The myHSA plan is a Pay-As-You-Go plan. There are no mandatory monthly or annual premiums. You only pay if and when a claim is submitted. There are no deductibles and no restrictions on qualified expenses. When an expense is submitted, the corporation simply pays the claim amount plus an administration fee. The HSA fee covers the administrative and compliance service required for the benefits to be paid non-taxable. The claim is then processed online.

Qualification for HSA

The employer has complete control over which employees are covered under the plan. Separate classes of employees can have separate amounts available for the employees to spend.

Make a HSA Claim

For business owners, the default is S 15,000 per annum per individual (if you have an extraordinary expense forthcoming, please inform us). If your spouse is an employee of your company as well, they would be entitled to a further S 15,000. Other employee classes are decided by you, providing you with the flexibility to allocate maximums best suited to your employees.

For example, senior employees can be eligible for a maximum of $4,000 per annum and all other employees a max of $500. You also have the option to enable the carry-over of unused amounts from year to year.

HSA Sign In

Personal Health Plan

Get a customizable health insurance plan that helps replace or fill the gaps in your provincial or workplace benefits, whether you’re looking for individual or family health insurance that best meets your needs. A Basic Plan Includes:

Accidental Death & Dismemberment (under age 65)
Accidental Dental
Ambulance
Blood Pressure Monitors
Diabetic Supplies
Funeral Expenses
Health Practitioners
Hearing Aids

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Access your health care savings in a snap.

Say goodbye to the hassle of filing claims and waiting for reimbursement. Our easy-to-use online portal allows you to sign into your HSA account and access your healthcare savings anytime. Get the peace of mind that comes with knowing you have funds available to cover your medical expenses at your fingertips.

HSA Sign In

Save more on your health care costs.

With Health Spending Accounts, you can reduce expenses across the board. From actuarial calculations to administrative tasks and marketing efforts, HSAs help you save more on healthcare costs. This plan allows the employer to manage their health benefits “spend risk” by defining the annual allowance and removing the risk of annual claims experience-based renewals.

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Protect your health with HSA.

Employers can provide their employees with Health and Dental plans in conjunction with standalone plans. All qualifying medical expenses under the Income Tax Act are eligible, which differs from traditional group insurance plans (insured PHSPs), offering restricted benefits and dollar maximums.

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