Low Cost Health Insurance for Small Business Owners in Canada

By: Updated: March 26, 2026


Are you a small business owner in Canada?  The Olympia Health Spending Account (HSA) is a proprietary and specialized product that offers low cost health insurance for small business owners in Canada.

Here's what you need to know:

The Olympia HSA is an alternative to traditional health insurance. It turns your personal medical expenses into before tax expenses through your business.

Used by 58,000+ small business owners across Canada, the Olympia HSA is a special account that is established to exclusively pay for healthcare services for a business owner, employees, and dependants.

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Do you qualify for the Olympia HSA?

  • Do you operate an incorporated business?
  • Do you have medical expenses? 
  • Do you pay income tax?

If you answered "Yes" to the criteria listed above, then you qualify for the Olympia HSA and it will save you money


NOTE: If you have a business with arm's length employee, read our Top 24 FAQ for Employee Benefits Packages for Small Business.


Features of an HSA

1. Write off 100% of personal medical expenses

  • Convert out of pocket medical expenses into legitimate business deductions
  • Create value by lowering the cost of medical expenses and reducing taxes
  • Unlock hidden value in your company

2. Get 100% coverage 

3. Experience the freedom

  • No Medical Underwriting
  • No Co-Insurance Payments
  • No Deductibles, Premiums, or Complex Terms 

4. Get Instant Online Claims

  • Submit, pay, and be reimbursed online
  • Reimbursement in 24-48 hours
  • Exclusive online platform for Olympia HSA members 

About Olympia 

 

Learn how the Olympia Health Spending Account can help your small business save on medical costs (download this guide if you are an owner/operator business):

Olympia HSA Walkthrough for incorporated individuals

If you are a small business with arm's length employees, then download the guide below:

Health Spending Account Walkthrough for Small Business Owners

 

If you're ready to sign up to a plan --> Get simple step-by-step instructions on setting up your HSA

 

Here are some related topics on health insurance for small business:

Why is health insurance not worth it? 

Are health insurance benefits taxable?

Learn more about a Health Spending Account

Are you an incorporated business owner with no employees? Learn how to use a Health Spending Account to pay for your medical expenses through your corporation: 

Download the HSA Guide for Incorporated Individuals

Do you have a corporation with employees? See why a Health Spending Account makes for great employee benefits:

Download the HSA Guide for a Business with Staff

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