David Imrie

 Tags: Health Benefits

Whether you’re in the health benefits market for the first time or looking to upgrade your current coverage, navigating the various plans can be confusing and exhausting. You’re not alone—many people struggle with choosing the best coverage option for their businesses.


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How can you ensure you choose the best option for your business? Keep these seven factors in mind when choosing a plan and you’ll be one step closer to finding the most effective coverage for your employees’ needs.

1. Price

Employee health benefits should be affordable and shouldn’t break the bank. Some benefits plans, however, aren’t worth the price you pay. It’s important to compare providers to find your perfect balance between price and quality of coverage.


It is possible to get the best of both worlds with a registered health spending account—a low cost and exceptional coverage.

2. Coverage

Nothing is worse than having a health plan, needing a certain service, and not being covered. When searching for a new health benefits plan, you want to make sure you’re offering your employees a wide range of coverage options. From mental health coverage to physiotherapy and everything in between, make sure you’re offering full coverage for the expenses your employees need most.


With a registered health spending account, all CRA-approved medical expenses are covered.

3. Annual Premium Increases

When you originally sign up with a health benefits provider, you might think you’re getting a great deal. But how about ten years down the line when you’ve experienced ten annual premium increases? It may not be the great deal you thought you were getting.


Be cautious of benefits coverage with annual premium increases and make sure you know what you’re getting yourself into.


Registered health spending accounts don’t require you to pay any premiums—you pay for the health dollars you put in employees’ accounts and the set-up fees. That’s it. No premium increases will ever occur.

4. Flexibility

No one wants cookie-cutter benefits; everyone wants their health benefits to be personalized and flexible. With traditional benefits, the reality is the plan will be the same for everyone—no flexibility there.


If you’re looking for flexible coverage, your best option is a registered health savings account, which allows your employees to pick and choose which CRA-approved expenses they claim and how much they spend. It’s customizable, making it a desirable option for your employees who all have different requirements from their plans. 

5. Employee Expectations

Employee expectations are changing the game when it comes to their health benefits plans. Health benefits are one of the contributing factors to an individual’s decision when choosing where they want to work. As such, you need to choose an option that not only satisfies your current employees’ expectations but also attracts new talent.


Employees expect a certain level of coverage that you’ll need to meet; otherwise, your employees and candidates will find a company that does offer this coverage.

6. Taxes

Instead of paying taxes, a registered health benefits plan can actually provide you with tax deductions for small businesses.


As a bonus, all of the costs your employees pay with their registered health spending account will be tax-free.  

7. Family Coverage

To satisfy your employees, you’ll want to offer coverage that isn’t just for your employees but their families as well.

Children and spouses are covered under a registered health spending account. Your employees who can combine their health spending with their spouse’s traditional benefits can get the best of both worlds and will thank you for it.


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David Imrie

Dr. David Imrie founded RHSA Canada in 2009. Dr. Imrie is a medical doctor and former health insurance professional who has a passion for helping small businesses reduce their healthcare costs. As an executive in the insurance industry, he was shocked to find that so many common healthcare services are covered only partially by most insured plans, when employees were entitled to 100% coverage for all prescription drugs, dental services, and other healthcare expenses. Since leaving the insurance industry in 2001, Dr. Imrie committed to using newer technology to develop a better alternative program for small business health benefits.
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