Health Spending Accounts
Trusted by Canadian small businesses for simple and scalable health benefits.
Health Spending Accounts
Why HSAs?
Traditional group health insurance can be complex and expensive. Health Spending Accounts (HSAs) provide a flexible and affordable alternative for employee benefits, making them a popular choice among small businesses. Here’s why they are so widely adopted.
- 100+ eligible health expenses
- No insurance premiums
- Counts as deductible business expenses
- Provides coverage for dependents
- No deductibles or copays
- Tax-free for employees and owner-employees
Canada Revenue Agency
HSA Eligibility
Our Health Spending Accounts fully comply with Canada Revenue Agency (CRA) guidelines. Employees must have T4 income to be eligible for an HSA. The following types of Canadian businesses can set up an HSA:
- Operating companies
- Nonprofits
- Sole proprietors*
- Partnerships*
- *with a full-time arm’s length employee
Choosing Coastal HSA
The HSA Health Wallet
Our digital Health Wallets at Coastal HSA put predictable spending within reach for employers. Simply allocate a set dollar amount of health credits to each employee’s Health Wallet. From there, employees can submit their receipts through our easy-to-use platform to receive their reimbursements. Here’s what you can expect:
- Flexible health spending
- No monthly premiums
- No signup fees
- Pay as you go pricing
Getting Started
Flexible health benefits
start here
Explore our plans below for a firsthand look at our HSA Health Wallets.
