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.
1. Affordability
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
2. Full Coverage
A HSA offers 100% coverage.
- Wide and deep range of eligible medical expenses
- 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.