Offering a new twist on a Health Spending Account, the Olympia HSA breaks free from the traditional "cost plus" model with an annual, all inclusive membership fee. The fixed memebership fee means you are not charged on the amount of your claims but rather pay a fixed annual rate for using the plan. Moreover, to further pass savings on to our customers, there is no setup fee to join the plan.
The Olympia Health Spending Account is available in Ontario in two versions. The HSA PLUS is priced at $499/yr. The PLUS plan includes a medical travel insurance plan, catastrophic drug plan, and emergency medical insurance plan. The HSA Basic is $249/yr and does not include the bonus insurance products.
What is a Health Spending Account (HSA)?
A Health Spending Account is a is an alternative to traditional health insurance. Used by thousands of small business owners across Canada, an HSA is a special account that is established to exclusively pay for health care services for you and your family members.
An HSA enables a small business to deduct 100% of their family health and dental expenses - without paying standard premiums typically associated with traditional health insurance plans.
The ability to write off health and dental expenses can create savings of more than 30% on medical and dental related expenses. For entrepreneurs and self employed professionals, this is an effective tool to cut your taxes and reduce your medical costs.
Are you researching a Health Spending Account? Take a look at our Beginner's Guide to Health Spending Accounts.
What's in this article
