Canadian small business owners have been migrating away from traditional health insurance plans towards a more friendly method of paying for their expenses - a Health Spending Account. The benefits are plentiful but we thought we would narrow them down for you.
These are the top 3 Health Spending Account benefits.
A HSA typically has no premiums.
Cost control is in your hands as opposed to the insurance company
Reduce your taxes by writing off 100% of your medical costs through a HSA
No deductibles, co-payments, or additional fees to join
A traditional insured plan limits access to benefits
Inclusive definition of a dependant
3. Easy to use
Health Spending Accounts are designed for a self employed business.
The claim process is online and instant
No complicated exclusions and conditions on your claims
No medical underwriting
Health Spending Accounts have been widely adopted by Canada’s small business community as a viable alternative to traditional insurance. Get our free Beginner's Guide on Health Spending Accounts and discover how it will save you money.