Health Spending Account

A Health Spending Account (HSA) is an individual account with a fixed dollar amount used for reimbursement of qualified medical expenses that are not covered by health insurance or benefits.

HSA are administered in accordance with Canada Revenue Agency (CRA) and provide reimbursement for a wide range of health-related expenses like medications, hospitalization, eye care, paramedical, dental care, and medically required travel expenses.

An HSA is a great non-taxable alternative, or supplementation to any traditional benefits plan, as well as an effective solution for those who are looking to have or to provide (if business owners) more flexibility.