Health Spending Accounts for Small Business Owners in Canada

Incorporated Professionals HSA Pricing

Deluxe

$699 / year
HSA + Insurance + Virtual Healthcare

Direct online sign up
No administration or setup fees
$15,000 per year claim limit
Dependants included
Mobile claims
10 day money back guarantee*
Travel medical Insurance
Emergency medical service
Catastrophic drug insurance
Dialogue Virtual Healthcare

Most
Popular

Plus

$499 / year
HSA + Insurance

Direct online sign up
No administration or setup fees
$15,000 per year claim limit
Dependants included
Mobile claims
10 day money back guarantee*
Travel medical Insurance
Emergency medical service
Catastrophic drug insurance

Basic

$249 / year
Health Spending Account

Direct online sign up
No administration or setup fees
$15,000 per year claim limit
Dependants included
Mobile claims
10 day money back guarantee*

FAQ

How do I sign up? +

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.

What does my accountant need? +

We encourage you to share this guide with your accountant.

Employee Benefits Pricing

HSA Group

8% admin fee
Health Spending Account

Direct online signup
Mobile claims
Flexible plan design
$99 annual fee
$335 one time setup fee
$40 to add an employee

WSA

8% admin fee
Wellness Spending Account

Learn More

Added to an existing HSA Group
Set allowances based on classifications
Wide range of eligible wellness expenses
$99 annual fee

Telemedicine

$15 monthly per employee
Virtual Healthcare: Dialogue

Learn More

Dialogue Telemedicine
Added to an existing HSA Group
“Doctor in your pocket”
Improve healthcare access
Live chat and video
Mental health support
Treatment and follow up
Specialist referrals

Insurance

Pricing ranges by age
Three Optional Add-ons

Learn More

Medical Travel
Emergency Medical
Catastrophic Drug
Added to an existing HSA Group
Contact Olympia to add

FAQ

What is the administration fee?+

Instead of a premium, your business will pay 8% on the value of employee claims. The claims and the administration fee are tax deductible.

What are the eligible expenses? +

How do I sign up? +

Click here
Select "Olympia HSA Group Online"
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.

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