The Smart Accountant
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Who Benefits?
It’s all about your client!
Health Spending Accounts (HSA) can make a lot of financial sense for your clients that operate incorporated businesses within Canada.
At a high-level, if your client is eligible to setup an HSA, they can write off 100% of their health and dental expenses. In addition, HSAs are one of the most flexible health insurance plans in Canada when it comes to what your client can claim.
What you need to know
Let's talk taxes
One of the best parts of an HSA is that they are 100% tax free and 100% tax deductible to your client’s business. Given the tax efficiency of HSAs, most accountants find that their clients are able to save themselves thousands of dollars every year.
We do the legwork
We do the administrative legwork to setup and maintain your client’s Health Spending Accounts (HSA). This allows your clients to use company dollars to reimburse themselves and their employees for eligible medical and dental expenses. We make this part easy through our online web application and mobile apps on the App Store and the Play Store.
Small, simple fee
To setup an HSA for your client, we charge a one-time setup fee of $295 to get their company started with BeneFitsMyWay. For every claim that we process, we charge a 10% admin fee. Unlike other HSA providers, we do not charge a yearly fee or ask your clients to pay a “systems fee” for each additional employee to be added to an account. We like to keep it simple.
What other benefits are available to add-on to my client’s plan?
Learn about:
- Additional insurance products designed to enhance BeneFitsMyWay at a competitive cost,
and
- A Taxable Wellness Account, an optional standalone employee benefit you can introduce to create a culture of wellness In your organization.