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Health Spending Account Claim Information

Michele asked us what type of receipt information is required from claims from private health centers, or on other HSA claims from an employee of a company. Answer:  Our adjudicators normally look for 5 key pieces of information.  The health spending account claim information includes: Who is performing service – if this is a particular […]

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Health Spending Account Privacy Considerations and the Adjudication Process

Todd asks about Health Spending Account Privacy Considerations and the Adjudication Process: Todd: I was told by one provider I spoke to before you guys that they wanted employees to send their claims to our company admin person first, and that our admin person would then send the claims over to the them, as a […]

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An HSA must use a 3rd Party to Process Claims

In your FAQ, you say that CRA requires that an HSA must use a 3rd party to process claims. Can you please tell me specifically where this guidance is found? Answer: PreTax Health Spending Account PHSP Canada Hi Carol. This flows from section 248(1) of the Income Tax Act and is also discussed in IT339R2: […]

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Canadians routinely pay a 40%+ “handling charge” on out-of-pocket medical, which could be avoided with a health spending account

What we’re about to show you is NOT simply par-for-the-course; it CAN be avoided. Say you’ve got a medical expense of $500 that you’ve got to pay out-of-pocket. That might be a dental bill, prescription meds, registered massage therapy, or whatever. It could even be a premium you are paying toward a personal health insurance […]

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Canadian start-ups & entrepreneurs will free up cash flow with a health spending account

We have a soft spot for start-ups and entrepreneurs; you’re the future of Canadian business! We also believe every Canadian company (outside of Quebec) should have a Health Spending Account; it’s as much a no-brainer as having a bank account. If you wonder why, see here — basically, without it your company is easily losing […]

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Own a business? Make your medical expenses 100% deductible with a health spending account

If you’re self-employed, good for you! We firmly believe entrepreneurship to be one of the most rewarding and fulfilling journeys that a person can take. You might not know this, but governments want to facilitate entrepreneurship and the creation of new businesses, and ours is no exception. There are multiple tax breaks our government gives […]

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Health benefits for contractors – use a health spending account?

It’s possible, and sometimes even desirable, for a company to offer health benefits to contractors via a PreTax Health Spending Account. Usually when people and companies think about contractors, they’re thought of as “self-employed” individuals. In other words, contractors are thought of as being responsible for their own taxes, their own health benefits etc. And […]

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Reimbursing Laser Eye Surgery Through Taxes with an HSA

Are you thinking about having laser eye surgery; or you’ve had it done already? Congratulations! We’ve heard people say that it’s the best money they’ve ever spent. Truth is, with a bit of knowledge (and just a few minutes of time), you could save a fair bit of money on this surgery — possibly even […]

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