The Beginner's Guide to a Health Spending Account (HSA)

Written for incorporated professionals with no arm's-length employees. What an HSA is, whether you qualify, what you can claim, what it costs. Plain language. No sales pitch.

What you'll learn in this guide

• What an HSA actually is Your corporation reimburses your medical expenses. Tax-free to you, deductible for the business. That is the whole mechanism.
• Whether you qualify Three tests: incorporated, no arm's-length employees, T4 income. Your spouse can be on the plan.
• What you can claim Dental, vision, paramedical. Up to $15,000 a year. Double it to $30,000 when your spouse is an employee.
• What it costs $249 a year plus tax for HSA Basic. No premiums. No other fees. And it is a deduction for the business.

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