David Imrie

More than 55 percent of employees believe good healthcare benefits are a reason to stay with a company. This is why top companies have amazing healthcare benefits: They know that if they take care of their employees, they’re more likely to retain them and are in a better position to recruit top talent.


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For a small business, however, it can be challenging to compete and offer good benefits for employees with traditional health insurance. This is why many small businesses are turning to a health spending account in Canada. 

What Is a Health Spending Account in Canada?

A Canadian health spending account (HSA) is different from the traditional group benefits many companies offer. With traditional group benefits, the employer has to pay premiums to an insurance company. Employees are then covered for a certain dollar amount of coverage in particular categories, such as dental and eye care. This coverage is one size fit all and doesn’t take into account every employee’s unique health needs.

With this kind of coverage, a lot of money is wasted and employees often end up having to pay for healthcare expenses out of pocket.

This isn’t the case with a health spending account in Canada. A health spending account can be thought of as like a healthcare allowance. The employer allocates a certain amount of money to the account for each employee. The employees then have the ability to spend that money on whatever healthcare options they want. They don’t have to worry about allotments per category. For example, in a traditional benefits plan, employees usually receive $200 every two years for eye care. But with a HSA, employees can spend all of their healthcare money on eye care if required. The coverage is designed to give employees more flexibility, freedom, and control.

Employees’ Healthcare Needs Are Met

The most common complaint with traditional healthcare is that it isn’t personalized. Because of this, each employee’s individual needs aren’t being met. No two employees are the same, and so their healthcare benefits shouldn’t be either.

With an HSA, you’re able to provide your employees with individualized healthcare that ensures all of their healthcare needs are being met as long as they’re Canada Revenue Agency (CRA) approved. Creating personalized healthcare coverage for employees shows them you care and are invested in their health. This in turn inspires loyalty and helps you improve retention because no one wants to leave a company that takes such good care of them.

No Costly Premiums

Costly premiums are the death knell of small businesses. They just can’t afford the rising costs, which makes traditional healthcare benefits out of reach.

Those costly premiums are a thing of the past when you have a health spending account in Canada. The only money you pay is the money you allot to your employees for their healthcare, plus a small administration fee, which ensures you can always afford to give them benefits.

If you’re a small business owner, investing in a health spending account in Canada is one of the best things you can do for your business and employees. You save money by not having to worry about premiums and you can ensure your employees’ healthcare needs are well taken care of.

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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