Your advisor works with Olympia Benefits to set up Health Spending Accounts for Canadian businesses. The pricing below is the same pricing they quoted you. Sign up whenever you're ready, and your advisor stays in the loop.
Start with HSA Group. Bolt on WSA and Insurance later.
What's eligible
Everything the CRA considers a medical expense.
An HSA reimburses the full CRA Medical Expense list. The same expenses that qualify for the Medical Expense Tax Credit on your personal return. Whatever the category, eligible claims come back at 100%.
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Cleanings, fillings, crowns
02Root canals, extractions
03Orthodontics (Invisalign, braces)
04Cosmetic dentistry (medically-necessary)
05Dentures and implants
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
Category · vision
Vision
100%covered
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Prescription glasses and frames
02Contact lenses (daily and monthly)
03Eye exams
04Laser eye surgery (LASIK, PRK)
05Safety glasses (prescription)
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
Category · paramedical
Paramedical
100%covered
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Physiotherapy, chiropractic, massage
02Registered psychologist, social worker
03Acupuncture, naturopath
04Osteopath, podiatrist
05Speech therapy, occupational therapy
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
Category · prescriptions
Prescriptions
100%covered
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Prescription medications
02Insulin and diabetic supplies
03Medical cannabis (prescribed)
04Fertility medications
05Smoking cessation (prescribed)
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
Category · medical devices
Medical devices
100%covered
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Hearing aids and batteries
02CPAP machines and supplies
03Prescription orthotics
04Mobility aids (canes, walkers)
05Blood glucose monitors
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
Category · other eligible
Other eligible
100%covered
Every eligible claim in this category is reimbursed at 100%, up to your plan's annual limit.
Typical reimbursed claims
01Private hospital rooms
02Ambulance services
03Medical travel (with prescription)
04Fertility treatments (IVF, IUI)
05Gender-affirming care
The full CRA list includes over 100 categories: cosmetic procedures where medically necessary, gender-affirming care, fertility treatments, and more. If CRA allows it as a medical expense, an Olympia HSA covers it. Full list in CRA's Medical Expenses guide (RC4065) ↗.
A worked example
What you pay, and what you don't.
The math for an incorporated professional running a year of medical and dental through an HSA. No staff.
Your cost
HSA annual membership (Basic)
$249 + GST/HST
One-time setup fee
$0
Per-claim & admin fees
$0
Medical & dental you reimburse, tax-free
$— / yr
Annual cost to run it
$249 + GST/HST
Your only hard cost is the flat membership. No setup, per-claim, or administration fees on HSA Basic or Plus, and every eligible dollar is reimbursed at 100%. The reimbursement figure is a placeholder. Drop in a typical annual claim amount.
Vs. paying out of pocket
Paying the same medical & dental bills personally, from after-tax income:
Pre-tax income needed
$—
Effectively lost to tax
~—%
Paid personally, you earn the money, get taxed, then spend what's left. Through an HSA your corporation reimburses you tax-free and deducts the expense. Final figures depend on your marginal rate. To be confirmed.
The math on a 5-person professional services firm on HSA Group, with a $1,500 annual allowance per plan member (about the same as the insurance premium below).
Your cost
HSA Group annual fee
$99
One-time setup fee
$335
Per-plan-member add fee (× 5)
$200
Plan member allowance × 5 staff × $1,500
$7,500
Admin fee (8% of claims used)
Up to $600
Max cost, year 1
$8,734
On average, plan members use 60–73% of their allowance (2025 Benefits Canada Healthcare Survey), so your actual cost is closer to $5,500–$6,500 in year 1, and $5,000–$6,000 a year after that once the one-time fees are paid. You never pay for allowance nobody claims.
Vs. traditional group insurance
A comparable 5-person group plan with dental, vision and paramedical caps, at an illustrative $120 per person per month:
Annual premiums
$7,200
Returned to you if unused
$0
Plus: Canadian medical-plan costs are projected to rise 8.3% in 2026 (Aon), premiums scale with your group size (small 1–10, large 11+), pre-existing condition exclusions can apply, and none of it returns to you if unused. With Olympia, you only pay for what's claimed.
Optional add-ons
Build out the plan as you grow.
Upgrade from Basic to the Plus plan and two insurance products come bundled into the flat $499/year. No separate quote.
Included with PlusIn $499 Plus plan
Travel Medical Insurance
Out-of-province emergency medical while you or your family travel. Single and family coverage, no deductible, no medical questionnaire, paid for by your business.
Bundled into the Plus plan. Not available on Basic.
Included with PlusIn $499 Plus plan
Emergency Medical Insurance
Fills the gaps your provincial health plan leaves: semi-private hospital, ground ambulance, accidental dental, home care nursing, convalescent care, and mobility devices. No deductible.
Start with HSA Group, then bolt on a Wellness Spending Account or insurance as your team grows.
Add-on · for group plans8% admin · $99/yr
Wellness Spending Account (WSA)
Optional add-on to an HSA Group plan. Set allowances by classification for a wide range of eligible wellness expenses: gym memberships, fitness equipment, personal development, ergonomic gear.
Taxable to the plan member. Classification-based allowances.
Add-on · for group plansPriced by age and plan size
Group Insurance
Two insurance products you can layer onto an HSA Group plan: Travel Medical (out-of-province emergency medical while travelling, no deductible or medical questionnaire) and Emergency Medical (semi-private hospital, ambulance, accidental dental, home and convalescent care, and mobility devices for what provincial plans don't cover). Contact Olympia for a custom quote.
Straight answers, split by situation. Anything else? Ask your advisor or call us.
For incorporated business owners
How does an HSA work?+
An HSA lets you take money out of your corporation tax-free to pay for your out-of-pocket medical expenses. The payment from your corporation is 100% tax-deductible; the reimbursement to you is 100% tax-free.
How do I make a claim?+
Pay for the medical expense personally, submit the claim online (or by app), send a payment from your corporation for the amount, and receive the reimbursement to your personal bank account. Typically within 48 to 72 hours.
Why is there a $15,000 limit?+
CRA guidelines require a limit for each plan year. You and eligible dependants can claim up to $15,000 per plan year, pooled. Any one person can claim the full amount. If your spouse is an employee of the corporation they can be added, effectively doubling the limit to $30,000.
Are dependants included?+
Yes. A dependant is eligible if you claim them on your tax return. Spouse and dependant children are covered under your plan.
Is there an age restriction?+
The Basic plan has no age restriction. Plans that bundle insurance (Plus) are restricted to age 70 because of the insurance components.
How do I sign up?+
The sign-up is fully online: complete the form, provide your business credit card, and submit. A confirmation email arrives with your account details.
For businesses with staff
How does a Group HSA work?+
It's a cost-effective alternative to traditional group insurance: a spending account for each plan member, 100% tax-free to them and 100% tax-deductible to the corporation. No premiums.
What is the administration fee?+
Instead of a premium, your business pays 8% on the value of plan member claims. Both the claims and the admin fee are tax-deductible.
How do I fund the plan?+
Once per month a predetermined amount is withdrawn from your business bank account. You set the amount, and the funds belong to you at all times.
What are employee classifications?+
You set separate classifications (for example Executives $10,000, Managers $5,000, Full-time $2,000), and each classification's dollar value becomes those plan members' annual limit. Shareholders can't receive more than 10× the lowest category; the minimum is $250.
Is there an age restriction?+
No age restrictions on the HSA or WSA. Optional insurance add-ons are restricted to age 70.
How do I sign up?+
Apply online: provide contact information, set your employee classifications and funding amount, and pay the one-time $335 setup with your business credit card. You'll get a confirmation email with instructions for adding plan members ($40 each).
The CRA fine print
The fine print we're proud of.
Olympia plans are structured as Private Health Services Plans (PHSPs). That gives plan members 100% tax-free reimbursements and the corporation a full deduction. Here's what that legally requires.
01Reasonable contribution test
Contributions must be reasonable in the context of each employee's role and compensation. In practice, we default to class-based limits in the $1,500–$15,000 range. Well within CRA-defensible bounds.
02Risk-shifting requirement
A PHSP must involve an element of risk. Olympia plans are structured with formal claim adjudication, making them legitimate insurance arrangements rather than employee salary substitutes.
03Eligible employee classes
Owner-managers, active employees, and their spouses/dependants qualify. Non-arms-length employees (e.g. owner's children over 18) must be bona fide employees with documented work.
04Medical expense definition
Covered expenses must meet the definition in Section 118.2(2) of the Income Tax Act. That is the same list that qualifies for the Medical Expense Tax Credit on your personal return. Tax-free reimbursement to the employee is governed by s. 6(1)(a)(i) as a Private Health Services Plan benefit.
Prefer to talk to Olympia directly? Call 1-888-668-8384. Calgary, Mountain Time.
Get a personalized quote
Step 1 of 4
What describes your business?
We'll tailor the plan to your situation.
Is your business incorporated?
Olympia's Health Spending Accounts are for incorporated businesses.
When would you like to start?
No pressure. We'll pace our follow-up accordingly.
Last step. How can we reach you?
One of our specialists will send you a tailored quote within 2–3 business days.
We use your details to prepare your quote and follow up about it. You can unsubscribe from our emails at any time. Olympia Benefits Inc., #4000, 520 3rd Ave SW, Calgary, Alberta T2P 0R3. 1-888-668-8384. Privacy Policy
You're all set.
One of our specialists will review your details and send a tailored quote within 2–3 business days. Keep an eye on your inbox.
This isn't the right fit.
Olympia's Health Spending Accounts are only available to incorporated businesses, so we're not able to offer you a plan.
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