Meeting Consumer Demand

When it comes to supporting the health needs of your employees ̶ and your own family ̶ a health spending account (HSA) offers more flexibility and financial power compared to group benefits. The HSA meets today’s consumer demand for custom tailored services while providing impressive tax efficiencies and advantages.

With an HSA you can get more bang for your financial buck. It covers dental examinations, medicine, chiropractic care and massages, and other expenses such as therapeutic aids and health care for extended family members.

Allowable costs are aligned with what the Canada Revenue Agency accepts as income tax deductions. Your Carte Financial Advisor can show you the many features of an HSA.

One truly exceptional advantage: you can top up an HSA at any time or build up a cash reserve to cover anticipated expenses. Unlike with group benefits plans, whatever money you don’t use just rolls over to next year. So, it also doesn’t matter if you overbudgeted.

It permits employees to request higher deductions from their paycheque, to create a larger plan for their family’s needs. For example, an employee facing $6,000 of children’s braces can add to their plan, extending it beyond what you would create.