Welcome to a great health benefits idea.

Many business owners in Canada don't know that Health Spending Account Plans are available to cover the health expenses of their families and their employees. 

A Health Spending Account (HSA) Plan is the more familiar name for what the Canada Revenue Agency calls a Private Health Services Plan (PHSP).  The terms are interchangeable.  HSA's are available to any Canadian business, incorporated or not.  With an HSA, business owners and their employees and families get comprehensive health coverage while enjoying substantial tax savings.  A Health Spending Account plan is an effective alternative to health coverage under a traditional premium-based insurance plan - or can be used to top-up that plan.

Features of a Health Spending Account Plan

  • Incorporated businesses, including contractors, consultants, tradesmen, and professional corporations all qualify for health benefits under an HSA.
  • HSA's can also be used by unincorporated sole proprietors or partnerships for self-employed health benefits.
  • There are no premiums with HSA's - your business only pays for a health service when a claim is submitted.
  • The business pays the cost of the HSA for its employees and therefore gets a 100% tax deduction.
  • Canada Revenue Agency (CRA) allows reimbursements to employees to be a tax-free benefit (except in Quebec).
  • The cost of administration is a fixed percentage of each claim so you know exactly how much you are paying.
  • You determine the annual total reimbursement level for your employees so your business can budget effectively.
  • The Covered Services eligible under an HSA are more extensive than under insured plans. They include almost every health service provided by a registered health care practitioner.  See what is covered for details.
Direct Reimbursement Associates is the national leader in low-cost, high quality HSA's, with a modest 5% administration fee on claims, a one-time $100 plan registration fee, and electronic claims submission.  Through our affiliate in Calgary HSA's currently are serving 5000 businesses in every province and territory of Canada.  If you own a business, regardless of whether it is incorporated or not, you can start saving money now.  Talk to your accountant or HR advisor about a Health Spending Account plan and register today right on this website - it's easy!