Health Spending Accounts (HSA) are not insurance products. They are fully funded by the employer/employee and administered by Quikcard Solutions Inc. The best part is that virtually all health treatments are eligible for coverage under an HSA. Quikcard believes that health treatments are a decision between the patient and doctor or health service provider.
Quikcard offers several advantages over standard health plans. A Quikcard health plan can be as flexible and extensive as the employer wishes to make it. You can use a Health Spending Account to cover every day health care costs such as, dental, vision and prescription drugs and extended health including preventative and alternate therapies. Then, to manage expenses for more serious circumstances, Quikcard Benefits Consulting Inc. is licensed to offer a full range of group insurance** products, backed by the leading group insurers in Canada. Within the guidelines set by the employer, employees are free to pursue treatment plans as recommended by their practitioner. This can include brand name prescription drugs, as well as services that may not be covered by standard insurance programs, such as massage therapy, naturopathy, physiotherapy, and more. With Quikcard’s custom approach to benefit plans you are ensured that your companies benefit plan is achieving its maximum value for you and your employees.
Unfortunately, no. Canadian tax laws allow only incorporated companies, limited companies and sole proprietors to take advantage of Health Spending Account. Businesses of any size, however, are able to deduct the fees paid toward employee health benefits as a business expense, and offer non-taxable benefits to their employees. Ask your accountant about the possible tax advantages for your company.
With a health spending account (HSA) your monthly fee is determined by the amount of coverage you establish for your plan. Our helpful, experienced representatives can perform an assessment of your past benefits costs and set up a budget that allows you to control and manage your health spending for the next year. You may be surprised at how much you save, since you never lose what you don't use. Group insurance products are competitively priced and provided by leading insurance providers in Canada.
With a Quikcard Health Spending Account, there are no start up, cancellation, or yearly fees. Our low fixed administration fee is charged only when claims are processed. Insured product pricing varies depending on the demographics of our company; a Quikcard advisor would be happy to review the different levels of insurance products and costs with you to help you find the right combination for your company.
There are many options available to companies today. Quikcard’s friendly advisors are here to help you determine the best benefits package for your company, at the most affordable cost. Often, we find that using a Health Spending Account to cover everyday costs, such as dental check-ups or prescription drugs, combined with group insurance to manage more serious health concerns, is a great way to go. The good news is that Quikcard’s advisors are well versed in all the options and are ready to help you.
The flexibility of a Health Spending Account means that business owners can decide which services are covered, and to what extent. Choose dental, vision, extended health, and/or prescription drug coverage. Insurance is available for long-term and short-term disability, travel, life and more. See information under Quikcard HSA and Quikcard Insurance Products for more details.
Please find the latest link from CRA attached. Expenses you cannot claim
*Health Spending Accounts are not insurance products. They are fully funded by the employer/employee and administered by Quikcard Solutions Inc. **Insurance products are provided by selected Canadian insurers and are arranged for by Quikcard Benefits Consulting Inc.