Health Spending Accounts

Hundreds of thousands of Canadians already use Health Spending Accounts. Discover why they’re becoming the preferred way to offer health benefits.

 

  • Why HSAs?
  • HSA Eligibility
  • Health Wallets
  • How It Works
Health Spending Accounts

Why HSAs?

An HSA lets Canadian employers offer flexible, pay‑as‑you‑go health benefits without traditional insurance. Your team can get reimbursed tax‑free for hundreds of eligible health expenses, while you stay in control of your budget

  • 100+ health expenses
  • No insurance premiums
  • No deductibles or copays
  • Tax-free for employees
HSAs
HSAs
Canada Revenue Agency

HSA Eligibility

Our Health Spending Accounts are fully compliant with Canada Revenue Agency (CRA) guidelines. Employees must receive T4 income to be eligible. HSAs can be set up by the following types of Canadian businesses:

  • Operating companies
  • Nonprofits
  • Sole proprietors*
  • Partnerships*
  • *with a full-time arm’s length employee
Employee Health Benefits

The HSA Health Wallet

Health Spending Accounts give employees the flexibility to cover the health expenses they value most, while helping employers keep costs predictable and manageable. With the Health Wallet, claims are easy to submit, reimbursements are fast, and spending is always transparent.

HSAs
HSAs
HSAs
Plan Administrator

How It Works

Start by creating a Plan Administrator account, then set an annual HSA credit for each employee. Employees submit eligible health expenses through their Health Wallet, and claims are reviewed and reimbursed.

HSAs
HSAs
HSA Health Wallet

HSA Plan Structure .
Guidelines and Rules.

HSAs are a Private Health Services Plan (PHSP) recognized by the CRA. It must be employer-funded and provided on a reasonable basis to employees.

1. T4 Income

Employees must receive T4 employment income. HSA limits are based on that income.

2. Business Structure

Available to incorporated businesses with active income, or sole proprietors who employ at least one arm’s-length employee.

3. Health Expenses

Only expenses listed on the Coastal HSA Eligible Health Expenses list qualify.

Eligible Health Expenses List

4. Claim Date Eligibility

Your coverage starts on your plan start date. Only expenses incurred on or after that date are eligible.

5. Allocation

HSA funds are distributed quarterly (Jan 1, Apr 1, Jul 1, Oct 1) or annually (Jan 1).

6. Fairness

Employees performing the same or similar duties must receive the same HSA amount.

7. Claim Deadline

Expenses must be from the plan year, submitted by March 1 of the following year, and reimbursed only from that year’s credits.

8. Rollover

Unused HSA credits roll over on January 1 and remain available for 12 months before expiring.

Getting Started

Flexible health benefits
start here

Explore our plans below for a firsthand look at our HSA Health Wallets.

Browse Plans