PreTax Health Spending Account

Health insurance agency. Canada Revenue Agency allows incorporated companies, like ours, to pull out money out from your business, tax free, to cover out-of-pocket health care expenses for owners, employees and dependents. To do this you have to set up a Health Spending Account (HSA). With an HSA companies are able to write-off 100% of their health care expenses, and employees (and employee-owners) are fully reimbursed for all out of pocket expenses, tax-free.