It's as easy as...
An employee (or you) submits a receipt
We review it to determine its
veracity and eligibility.
We invoice your business
The amount + 5% admin fee + taxes
= a business right-off
Your business pays us, and we pay them
100% of the eligible amount
= a tax-free benefit
Quick, easy, and free!
There’s no sign-up fee, no employee enrollment fees, no annual fee, no transaction fees to employers or employees, no up-front deposits, no penalties for closed or inactive accounts, etc., etc., etc.
We are truly a pay-as-you-go ‘cost-plus’ provider. Sound too good to be true? It isn’t – here’s our fine print.
What happens next?
After pressing “Submit” we will review your information and email you our no-fuss, no-commitment, and CRA-friendly contract. It will painlessly guide you through the final steps of setting up your benefit plan, including establishing reasonable benefit levels for you and any employees. Easy!
The Fine Print and FAQ
We charge a rock-bottom 5% administration fee plus applicable taxes (known as “cost-plus”) on all approved claims (not submitted claims). Better yet, with our plan there is no sign-up fee, no employee enrollment or change fee, no annual fee, no contract termination fee, no upfront deposits, no transaction fees for your company or your employees, and no hidden fees. We are strictly a pay-as-you-go provider. This means that you are in full control of your costs year after year.
We don’t enforce a minimum benefit level per employee, nor tiered pricing based on the size of your business.
You may incur fees from your bank when you submit payment to us, or if you request that we cancel a bank transaction that we have already submitted on your behalf (in which case we’ll simply pass our bank fee on to you). Since we limit invoicing to once per month, bank transactions and hassles are kept at a minimum. We accept payment by direct deposit and interac e-transfer.
We are a cost-plus Private Health Services Plan (PHSP) administrator. We use a light-weight and commitment-free contract that doesn’t lock you into using our services, and is designed to help you satisfy the Canada Revenue Agency’s requirements for health spending accounts (self-insured PHSPs).
You can cancel our service any time and for any reason by giving us 30 days notice. There are no penalties associated with opening, closing or having a stagnant account. This means that you can easily stop using our services if you are not happy.
Want to add an employee to your company HSA plan? Just email us their name, employee category and email address and we will contact them by email to introduce them to their new benefits plan, and to collect the necessary administrative information. This introduction also serves to help demonstrate to the Canada Revenue Agency that each eligible employee is adequately informed of their benefits plan.
We also take this opportunity to describe when and how to use their HSA. This includes informing them of the requirement that they use any additional extended health insurance they may have before submitting any amounts to their HSA plan.
Need to remove an employee from the plan? This is free and easy with just an email.
Employees that have been removed from the plan will have their benefits cancelled effective their termination date (unless otherwise directed). They will have 30 days from their termination date to submit any remaining receipts from the current year.
Employee benefits categories and limits are entirely up to your discretion, however, when signing up we will guide you by recommending Canada Revenue Agency best-practices.
As per the Canada Revenue Agency’s risk requirement, our plans do not roll over to the next year. This means that an employee’s yearly benefits do not grow if they haven’t used them, they instead renew each year at the predetermined level. Employees must submit their claims in the year they are incurred (or within our end-of-year grace period). Likewise, any health receipts from the period predating employee plan enrollment do not qualify.
All medical expenses that are eligible for the personal income tax medical expense tax credit qualify – which is a lot!
This includes 100% of medicine prescriptions, dental, vision care, hospital expenses, laboratory expenses, and health services provided by Authorized Medical Practitioners in your province. ‘Authorized Medical Practitioners’ vary by province, but typically include Physiotherapy, Chiropractic, Massage Therapy and more. Our plan also covers 100% of all premiums paid to any non-governmental health care plan (such as Blue Cross or GreenShield).
When you sign up you will receive an Employee Benefits Guide to help you determine which expenses are eligible.
Technically this could be possible for an incorporated business assuming the correct tax and legal safeguards were in place, but practically speaking this is not feasible for most employers.
The Canada Revenue Agency recommends that you use a third-party provider to administer your company’s Health Spending Account, and this is an obligate requirement for unincorporated businesses. Using a third-party administrator like EasyHSA will not only make it easier for you to demonstrate that your HSA fits the definition of a Private Health Services Plan, it will also safeguard your employees’ health privacy (and conversely, safeguard your company from accusations of health discrimination).