David Imrie

 Tags: Health Benefits

In order to attract and retain top talent, you need to offer comprehensive health benefits. But do you know what health benefits your employees really want? And if you do know, can you afford to provide them?


How to Give Your Employees a $1500 Raise at No Additional Cost

Traditional Benefits

Traditional health benefits are one size fits all by design. You pay an expensive premium each year to provide your employees with cookie-cutter benefits they may or may not want or need.


Your employees will probably never use all of the benefits they’re entitled to simply because they don’t need them, but they’ll probably pay out of pocket for certain benefits when the maximum cap for them is reached. It’s not a great system, and it costs you and your employees money that neither needs to be spending.

Give Your Employees What They Want

It can be challenging to know and understand what your employees really want when it comes to benefits, and then it can be a whole other kind of challenge to provide them.


However, with health spending accounts, those challenges disappear.


A health spending account is a way to provide personalized health benefits to your employees, and it costs you a lot less money than traditional benefits. There are no costly premiums to pay when you switch your employees to health spending accounts, which makes this style of benefits much more affordable for small businesses.


The easiest way to think of a health spending account is as an allowance. You put a certain amount of money (whatever you decide on) into each of your employees’ health spending accounts. Your employees can then use that money and spend it on whatever health care needs they have as long as they’re CRA approved.


The list of CRA-approved health benefits is actually much more extensive than what insurance companies offer with traditional benefits, which means your employees have more coverage with a health spending account than they would have with traditional benefits.


With health spending accounts, all of your employees’ individual health needs are being met—and at a much lower cost. You don’t need to know which health benefits your employees really want because you’re already providing them all.

Tax Benefits

When your employees pay for their health care needs using their health spending accounts, they don’t pay taxes. It’s not a loophole or a grey area; it’s just how it works. Benefits are tax-free as long as your employees pay for them with their accounts.


For you, the employer, simply providing health spending accounts to your employees entitles you to a tax deduction come tax time. Thus, you’re saving money not only through this tax deduction, but also by not having to pay premiums. It’s great knowing that you can provide your employees with the best benefits while also saving money.

Understanding what your employees need and want from health benefits, balanced with what you can afford to provide, is difficult with traditional benefits. You usually end up paying for benefits no one needs, while short-changing employees on benefits they require more of. You simply can’t win.


But that isn’t the case with health spending accounts. Health spending accounts allow you to personalize benefits for each employee so everyone is receiving the benefits they really need and want at a much lower cost to you. With no premiums and with tax deductions, switching over to health spending accounts will be one the easiest business decisions you ever make.


All The Health Benefits Your Employees Need and Want

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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