The sign up process is online. Complete the form, provide your business credit card, and submit. A confirmation email will be sent with your account details. Read more on the sign up.
What are the eligible expenses? +
Why is there a $15,000 limit? +
CRA guidelines require a limit for each plan year. Each employee receives $15,000 per plan year. Your spouse is the only employee that can be added to the plan. Read more on limits.
Are dependents included?+
Yes, dependents are included with your plan. A dependent is eligible for an HSA if you claim the person on your tax return. Read more on dependents.
Is there an age restriction? +
The Basic plan has no age restriction. The Plus and Deluxe are restricted to age 70 due to the insurance plans.
Complete the application for your business by providing contact information, setting the employee classifications, and determining your funding amount.
The one-time $335 set up fee is paid using your business credit card.
After you submit the application form, a confirmation email will be sent with your Olympia account information. Here you will receive further instructions for adding employees (at a cost of $40 per employee).
How do I fund my plan? +
Once per month a predetermined amount is withdrawn from your business bank account. The amount is determined by you and the funds belong to you at all times.
Is there an age restriction? +
There are no age restrictions with the HSA, WSA, or telemedicine. Insurance plans are restricted to age 70.
What are the guidelines on benefit levels? +
You can determine the amount to offer each classification. Shareholder’s cannot receive 10 times more than the lowest category. The minimum amount to offer is $250.
