HSA/PHSP Business Benefits

Advantages of a Health spending Account (aka Healthcare Spending Account or Private Health Services Plan):

• Our HSA's have no premiums, no maintenance or annual renewal fees - we are cost plus
• Medical, vision and dental costs are 100% tax deductible to your business
• Reduce corporate/business taxes
• Reimbursements are 100% tax free to employees
• Employer sets limits for the amounts the employee's are allowed to claim
• Limits will only change the employer decides to change them
• Set up tiers for different employee levels with different expenditure limits
• Help attract and retain employees
• Keep employees happy, healthy, productive and focused
• Pay expenses not covered by existing group or other plans
• If you have an existing group plan, our plan can be used for deductibles and amounts that exceed existing group plan maximums
• Can provide employees an HSA in lieu of a raise
• No CPP or UIC for employer on payments
• No holiday pay accruals

What's in an HSA for you?

• No health qualifications
• Tax free health, dental and vision care benefits
• You control your health care costs
• No unexpected or continuing premium increases

What do we do?

• As we are owned and operated by a CPA, CA* and tax expert in the area of HSAs
• We set up your HSA in compliance with Canada Revenue Agency ("CRA") guidelines for private health services plans
• We make certain that any claims are eligible so the plan stays onside with CRA
• We are personally available to answer your questions regarding your health spending account
• We protect the privacy of your personal information

What does a Health Spending Accounts cost?

• No set up fees
• No premiums, pay as you go
• No annual renewal fees
• No maintenance fees
• 10% administration fee
• $4 for each claim processed (deducted from the employees claim total)(not per item claimed)
• No minimum claim amount