One of the greatest perks of a Health Spending Account is the extensive range of eligible expenses. With this plan, you are able to claim 100% of your medical expenses, including popular items such as prescription drugs, licensed massage therapy, vision, dental and more.
The transparent list of eligible expenses paired with a simple claims system makes an HSA one of the most attractive options out there for a business owner.
In contrast to standard health insurance plans, a Health Spending Account provides full coverage for a broad array of expenses. There are no premiums, limitations, or deductibles.
Best of all, a Health Spending Account can complement a health insurance plan (if you or your spouse decides to maintain insurance). Premiums paid towards health insurance and expenses not covered by the insurance plan are both eligible for reimbursement under a Health Spending Account.
Some medical expenses are even eligible on a case by case basis. If the service or product is a medical requirement, then ask for a doctor's note and in most cases, you will qualify for the claim.
The list of eligible expenses is determined by the CRA. If a medical expense can be claimed on your taxes, it will also qualify in a Health Spending Account.
Get the Complete List of Health Spending Account Eligible Expenses
