Provincial Health Premiums and Their Interaction With an HSA in Canada
HSAs fill the gaps provincial health plans leave in dental, vision, drugs, and paramedical care.
Marcus Delgado-Firth
Section
7 stories in Tax-Efficient Compensation.
HSAs fill the gaps provincial health plans leave in dental, vision, drugs, and paramedical care.
Self-employed workers can stack two tax deductions to reduce health costs.
HSA corporate deductions beat the medical expense tax credit for incorporated owners with salary.
HSA plans let incorporated owners pay health costs pre-tax through their corporation.
Employer contributions to health plans get full tax deductions under Canadian law.
PHSP status determines T4 treatment and deductibility for owner-employees.
Employers and employees both dodge taxes on family medical bills through this account structure.