Health Spending Account - HSA BC
Pay-as-you-go extended health benefits plans designed for small businesses
Why Choose a Health Spending Account or HSA in BC?
Canada Revenue Agency approved to provide medical, dental and vision benefits in a tax efficient manner
A corporation can write off 100% of the costs related to its HSA
Employees can choose how, when, and where to spend their 100% tax free allowance
24/7 access to submit claims and view the status via app on iOS & Android
HSA BC: How It Works
Health Spending Accounts are used by employers
to provide Health and/or Dental benefits for employees:
An employee will pay for a medical cost, then submit a claim to be reimbursed tax free
The medical expense can be tax deducted as a business expense
With an HSA, the employer can then save 53.5% in income taxes, all while maximizing employee benefits and reducing employer cost
Plus, there's no need to pre-fund the account nor any annual premiums!
HSA Client Testimonials
HSA coverage helps pay many medical expenses not covered by provincial health insurance plan such as dental expenses.
Digital platform makes claim easy and fast.
We can claim the expenses 24/7 online by using app, good match with our lifestyles.
Pay as you go systems makes medical expenses more reasonable. Also setting up coverage amount for each employees helps me predict expenses easier.
Do You Qualify For an HSA in BC?
1. You own an incorporated business
2. You have a T4 income