How Much Can You Save? Comparing HSA and Group Insurance Costs
When it comes to healthcare benefits, many Canadian businesses are discovering the rising costs of traditional group insurance plans. As the expenses climb, business owners and HR managers are challenged to find cost-effective and flexible solutions that safeguard employee health while maintaining financial sustainability. This leads us to a critical question: How can businesses optimize […]
Why Canadian Professionals Are Choosing HSA Over Traditional Insurance
This article dives into the many aspects of why more Canadians are choosing HSA over traditional insurance, exploring the limitations of conventional plans, the unique benefits of HSAs, a side-by-side comparison, and real-world examples of professionals embracing this modern solution. If you are a business owner, self-employed professional, or employed individual seeking smarter ways to […]
Compare HSA and Group Insurance: Which Is Better for Small Businesses?
Choosing the right health benefits program for your small business can seem daunting amidst rising healthcare costs and evolving employee expectations. With options like Health Spending Accounts (HSAs) and traditional group insurance plans available, understanding their differences is crucial. Whether you’re a sole proprietor or manage a small team, selecting an optimal solution can influence […]
HSA vs Traditional Insurance: What’s Best for Self-Employed Canadians?
HSA vs Traditional Insurance for Self-Employed Canadians. Choosing the right health coverage is a paramount concern for self-employed Canadians who often find themselves navigating a complex maze of options. With the freedom and flexibility that come with being your own boss, it’s essential to understand what health benefits suit your unique lifestyle and business needs. […]
5 HSA Myths That Stop Small Businesses From Saving Thousands
Still reimbursing health expenses through after-tax salary or bonuses?You might be overpaying $3,000–$7,000 a year—per employee. Many small business owners in Canada stick with outdated benefit practices simply because they’ve heard HSAs are “only for big companies” or “too complicated.” These myths are not only costing you money, they’re limiting what you can offer your […]
Claimable HSA Expenses for Incorporated Professionals in Canada (2025)
If you’re an incorporated professional in Canada — whether a consultant, doctor, lawyer, or small business owner — there’s a strong chance you’re overpaying in taxes without realizing it. Here’s a real-world example: A Toronto-based self-employed consultant was spending over $5,000 annually on dental, vision, and physiotherapy treatments for herself and her family. After setting […]
Maximize Tax Benefits with HSA for Incorporated Professionals
Why Incorporated Professionals Are Losing Thousands to Tax — Without Even Realizing It If you’re running your own corporation as a doctor, consultant, or lawyer in Canada, chances are you’ve been giving yourself a bonus or dividend at year-end to reward your hard work. But here’s the shocker: a big chunk of that money vanishes […]
Step-by-Step Guide to Opening a Health Spending Account in Canada
In today’s competitive business landscape, offering health benefits can be a challenge—especially for small businesses and incorporated professionals. Traditional group insurance plans often come with high premiums, rigid structures, and limited flexibility. That’s where a Health Spending Account (HSA) steps in as a smarter, tax-efficient alternative. An HSA in Canada allows incorporated business owners to […]
How Health Spending Accounts Work in Canada
In a time when Canadian businesses are seeking smarter, more flexible ways to manage employee health benefits, Health Spending Accounts (HSAs) are gaining significant traction—especially among incorporated professionals and small business owners. As traditional group insurance plans continue to rise in cost and complexity, HSAs offer a tax-efficient, CRA-compliant alternative that puts control back into […]
