What is a Health Spending Account?

A Health Spending Account (HSA) is a type of a Private Health Services Plan (PHSP) for business owners. It’s the best method to convert personal health expenses into business expenses. You can use this plan for yourself, your employees and dependents. Our HSA is a pay-as-you-go plan with no monthly, annual or hidden fees.

What’s the difference between an HSA and Cost Plus?

Did you know you can use an HSA or a Cost Plus plan to write off personal health expenses? With Cost Efficient Benefit Plan there is no difference between the two types of accounts. You can read more about how our HSA and Cost Plus PHSPs work here.

What’s the Purpose of an HSA?

Most HSAs exist as additional coverage to a Group Plan. It will cover medical expenses the Group Plan does not. For example: If a Group Plan includes $150 bi-annually for prescription glasses, an HSA will cover any costs that go over that bi-annual amount.

How can an HSA enhance your Group Plan?

  • Increase eligible amounts
  • Pay for insurance co-payments
  • Pay deductible amounts
  • Pay for Premiums

Why use our HSA?

Most HSAs have high or complex administration fees and annual costs. Our plan is very simple. We have a 5% claim administration fee (plus tax) and a one-time enrolment cost of $100. That’s it.

What makes our HSA different?

  • 5% claim administration fee
  • Fast claim reimbursements
  • No annual or monthly costs
  • Zero costs per claim
  • Zero hidden fees

Call us for more information (see below) or enrol online here.

Have more than 10 employees? Ask about our flexible payment options.