David Imrie

Upon your initial research, you may have searched online for employee benefits and been bombarded with companies and options available to you. Yikes—where do you even start? With hundreds of available options, it’s going to be a difficult, complicated, and time-consuming process, right? Not necessarily.


Download The CEOs Guide to Decreasing Group Health Premium Cost


Stop your searching because the answer you’re looking for lies in an HSA. This option offers multiple benefits that a traditional provider couldn’t, including the ability to streamline your benefits management. Continue reading to discover how.

First Things First, What’s an HSA?

Starting with the basics, before you can consider an HSA for your employee benefits, you need to know what it is. Health spending accounts (HSAs) are an innovation option to replace (or be used in tandem with) traditional group benefits.


This option allows you, the business owner, to allocate a specific amount of money to each of your employees to their own individual health spending accounts. As long as they are spending this money on CRA-approved health expenses, they have the freedom to dictate when and where their money is spent.

Gives Your Employees the Freedom (and Responsibility) to Choose

With the ability to control what their money goes towards, this not only gives them the ability to spend their money on the health benefits they need and want but also makes the process easier for you. Instead of dealing with expenses yourself, your employees assume all the spending responsibility.

Reduces Administrative Tasks

Your HR department probably already has a lot on its plate. With a traditional benefits provider, the workload can be exhausting. There are so many ins and outs to the insurance business and piles upon piles of paperwork that it can become a full-time job in itself.


By streamlining your benefits with a health spending account, you’re saving your HR department from countless hours of unnecessary work.

Mitigates Risk

There are numerous lawsuits every year involving benefits. Can your business afford this type of legal risk? Probably not.


As such, it’s crucial to choose wisely when picking a group benefits option for your employees. Providing them with a plan that allows them to pick and choose their spending is a great way to keep your employees happy while avoiding many of the risks associated with offering employee benefits.


While you might be reading this and think, “I can’t afford to go through any type of lawsuit, so I won’t offer my employees benefits at all.” This, however, is not an appropriate way to respond to this risk. Employees have come to expect benefits from their employers. Not offering a benefits plan could hinder your chances of attracting top talent and could push your most valuable employees into the arms of a company that does offer quality benefits.


HSAs don’t discriminate against employees, making them a great option.

Eliminates Annual Premium Increases

No one wants to pay more money for benefits than they need to. A trick traditional group benefits carriers will use to try to rope you in is offer low premiums to start. While you probably think you’re getting a great deal, you might not consider the annual premiums that await you. With significant increases to your premiums every year, you could end up spending more with a traditional provider than you would with a more innovative solution.


Don’t fall victim to this scam; choose an option that offers no premium increases. You won’t have to find a new provider every year and you’ll feel more valued when you’re not constantly being asked for more money.  


The Brokers and Planners Guide to Group Health Benefits

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.
Find David Imrie on: