One of the great benefits of an HSA is the freedom it provides through the extensive range of eligible expenses covered by these plans. Unlike traditional insurance plans, a HSA can provide 100% coverage on a wide range of expenses.
Recently, our supplier – MyHSA, has come out with a plan that allows plan sponsors to define what level of coverage they want for a shopping list of items. This new level of ‘control’ is typically in keeping with the Corporate Philosophy of the Plan Sponsor and it can help to keep the lid on claim costs.
Under Revenue Canada guidelines, an HSA can be used to even subsidize costs related to individual or private health plans or for services providing Executive medicals (Cleveland Clinic, Medisys, etc).
Interested in Taxable Wellness Accounts for gym memberships, sporting goods, or alternative Paramedical Practitioners? Contact us today, and in mere days, we can have your account up and running.