HSA has become very popular with small business owner in Canada for last decade. This HSA is tax efficient alternative to traditional group benefits and a cost effective choice to pay your personal, out of pocket medical expenses here in Canada or outside of Canada.
Money is set aside from your paycheck before personal taxes or corporate taxes are taken out. You will use this money set aside for eligible health care expenses throughout the plan year.
Eligible health care expenses are defined by CRA medical tax credit eligibility expenses list. You will find a broad
range of eligible expenses than traditional group benefit.