HSA Spending Trends Among Canadian Small Businesses
Employees prioritize dental, vision, and mental health when HSAs replace traditional group plans.
Renata Osei-Bonsu
Section
7 stories in HSA Fundamentals.
Employees prioritize dental, vision, and mental health when HSAs replace traditional group plans.
Frontier HSA charges 8% on claims only; myHSA costs roughly 10% through advisors.
Employer-set limits and strict 24-month expiry windows keep Canadian HSAs tax-qualified.
Sole shareholder-employees face steep hurdles to claim HSA tax benefits.
HSA plans can cut incorporated professionals' healthcare costs by 25% to 40%.
HSAs offer tax advantages and cost predictability that traditional group plans can't match.
Employers can reimburse employees' medical costs tax-free through this corporate benefit structure.