PHSP / HSA – a smart option for business owners!
Personal Health Spending Plans – also called Health Spending Accounts – have been around for over 2 decades but are finally starting to catch the attention of self-employed people and small business owners.
Meet Tom, a seasoned business owner who competes for talent in a tight labour market. He needs a benefit solution that employees and recruits will appreciate. An HSA is a benefit solution that makes sense!
- Cost control
- Greater value
- Tax deductibility
Who is eligible?
Available to any size business – even as small as a one-person plan.
What is covered?
Anything covered under a typical insured plan is eligible plus much more:
- Laser eye surgery
- Restorative dental
- Fertility treatments
- Elderly care
- Special needs services
- Naturopath services
- Dietician services
We can think of 6 good reasons:
- No start up or annual fees
- Cost control and transparency
- Easy online account access
- Fast claim turnaround
- Carry forward features
- Complements insured plans
How do I set up a PHSP account?
Personal health spending accounts are set up through third-party providers – just give Jacqui a call and she’ll get the ball rolling for you.
Already have a health spending account?
Access your account with YourHSA Inc.