Comparison of Health Spending Account vs Traditional Group Benefits Choosing Between a Health Spending Account and Traditional Group Benefits When it comes to employee benefits, business owners and HR professionals often wrestle with what’s better for their team: a health spending account or traditional group benefits. Both can be valuable tools—but their structure, flexibility, [...]
Can I Set Up a Health Spending Account (HSA) in My HoldCo? A common question business owners and accountants face is whether a Health Spending Account (HSA) can be set up within a Holding Company (HoldCo) instead of an Operating Company (OpCo). While this may seem like an effective tax and benefits strategy, it’s [...]
Do I Need a Health Spending Account? Maximizing Your Tax Savings and Employee Benefits When it comes to managing healthcare costs, many business owners and professionals wonder if they need a Health Spending Account (HSA). But the real question isn’t whether you need one—it’s whether you want one. Think of it like investing inside [...]
Health Spending Accounts vs. Traditional Benefits: What’s Best for Your Team? Finding the Right Fit for Your Business and Employees When it comes to providing benefits for your team, there’s no one-size-fits-all solution. Employers in Toronto and across Canada are looking for flexible, cost-effective ways to support their employees’ health and well-being. Traditionally, life [...]
What Is A Health Spending Account (HSA)? A Health Spending Account (HSA) is a Canada Revenue Agency-approved method that allows personal qualifying medical expenses to be paid for in a tax-efficient manner. These expenses can include health, dental, vision, massage, and chiropractic services. With an HSA, your corporation can write off 100% of all [...]
We are sharing exciting news from Manulife Vitality! Manulife Vitality has a new partnership with Expedia to offer you rewards for living a healthy lifestyle. Expedia will replace Hotels.com as Vitality travel rewards partner as of August 31st 2022. What does this mean?? · Expedia is a world travel leader, with more than a [...]
Insurance should be about more than just protecting your loved ones; it’s about living your life the way you like it. So why not get more out of your insurance while you’re around to enjoy it? Manulife Vitality is insurance that motivates you to make healthy choices, earn super-cool rewards AND save on how [...]
“How much do your services cost?” In short, the answer is zero. When asked this question recently, I realized that not everyone knows that I don't charge for my time. A client doesn’t pay for our services, rather we are paid directly from the insurance company. There is no cost difference to [...]
“I work a 9-5 job and have always day dreamed about being my own boss – what has your experience been like working for yourself?” Five years ago, I took a leap of faith and left a career I loved at a company I was proud to be a part of. Haven't [...]
Just in case you are wondering, A Health Spending Account (HSA) is a Canada Revenue Agency approved method that allows personal qualifying medical expenses (e.g. health, dental, vision, massage, chiro) to be paid for in a tax-efficient manner. Your corporation can write off 100% of ALL qualifying medical expenses. Qualifying medical expenses incurred by [...]
