Blendable's HSA Select is the perfect solution for incorporated business owners who want to make medical expenses for them and their family a pre-tax expense.
It combines two features:
- Health Spending Account (HSA) - Funds contributed by the business are used by the individual to reimburse day-to-day medical expenses like prescriptions, dental work, vision care, or paramedical treatment like massage or physiotherapy. The contributions are tax-deductible for the business, and tax-free for the individual.
- Excess Medical - True insurance to cover major costs that come with unanticipated injuries or illness. Includes $125,000 in annual coverage, and $1 million 60-day travel insurance.
Fill in the calculator with the information below to learn how much you may be able to save by setting up an HSA Select.
Annual Income
- Your expected income for the year, used to estimate the true cost of paying out of pocket.
Annual medical expenses
- Your anticipated medical expenses for the year
- Most medical expenses are eligible for reimbursement through an HSA, but if you're not sure about a unique expense, check out the Canada Revenue Agency (CRA) list of eligible expenses
- The minimum contribution to an HSA Select is $250/month, so anticipated annual medical expenses for the calculator should be greater than $3,000/year. If your family's medical expenses are significantly less than that, an HSA Select may not be a good fit.
Province / Territory
- Unfortunately, HSA Select is not available in Quebec
