Although it’s difficult to put a price tag on a beautiful smile and healthy teeth, there’s no doubt braces are a significant financial investment. Due to wide variations in pricing, costs for braces can range from about $3,500 up to $10,000 and beyond.
Fortunately, if you’re a small business owner in Canada, there’s a secret to affordable braces.
The secret to affordable braces is a Health Spending Account.
What is a Health Spending Account?
A Health Spending Account (HSA) is a product desinged for small busines owners across Canada. It combines elements of medical insurance and tax planning.
- Also known as a Private Health Services Plan (PHSP)
- Used by Canada’s small business community as an alternative to traditional insurance
Reduce the cost of your braces
With a HSA, your business will pay for 100% of the cost of your braces.
- The expense is deducted by your business
- The benefit is 100% tax free to you personally
- There are no deductibles or co-payments
- For families in upper tax brackets, your dental costs can effectively be cut in half
Get full coverage
A Health Spending Account offers 100% coverage.
- Wide and deep range of eligible medical expenses
- A traditional insured plan limits access to benefits
- Inclusive definition of a dependant
Do I qualify?
You will qualify for a Health Spending Account if the following conditions are met:
- You own a corporation
- You have medical expenses
- You pay income tax
Health Spending Accounts have been widely adopted by Canada’s small business community as a viable alternative to traditional insurance. Olympia HSA currently administers Health Spending Accounts for over 30,000 Canadian small business owners.
What's in this article
