HSA for Financial Advisors and Planners in Canada

By Frontier Team•February 10, 2026•4 min read

You spend your career helping people optimize their taxes and build wealth. A Health Spending Account is the same logic applied to healthcare. If you are incorporated and paying yourself a T4 salary, your corporation can reimburse your medical expenses as a deductible business expense -- tax-free to you, fully deductible for the business. Most financial advisors and planners already qualify.

Why Financial Advisors Are a Natural Fit

Most advisors and planners operate through a professional corporation or holding company. If you draw a T4 salary from that corporation -- even a modest one alongside dividends -- you qualify for an HSA immediately. No minimum income, no waiting period, no approval process.

You already understand the math. Right now, every $1,000 you spend on dental, glasses, or prescriptions out of pocket costs you $1,400 to $1,800 in pre-tax personal income. With an HSA, your corporation covers those same costs and deducts them. You receive the reimbursement completely tax-free. It is the most tax-efficient way to pay for healthcare in Canada.

What Advisors Actually Claim

Here are the eligible medical expenses we see most often from financial advisors and planners:

  • Dental -- cleanings, crowns, and orthodontics for the whole family
  • Vision -- glasses and contacts, especially after long days reading screens and financial reports
  • Prescriptions
  • Mental health -- therapy and counselling to manage the stress of client-facing work and market volatility
  • Massage and physiotherapy -- for tension from desk hours and the physical toll of a high-pressure career
  • Chiropractic care

Your spouse and dependent children are covered under the same plan.

Tax Savings Example

Say you set an annual HSA limit of $3,600 and your family uses the full amount:

  • Dental: $1,200
  • Glasses for you and your spouse: $700
  • Massage and physiotherapy: $600
  • Prescriptions: $400
  • Therapy: $700
  • Total: $3,600

Without the HSA, you would need $5,000 to $6,500 in pre-tax personal income to pay for the same expenses. With the HSA, your corporation deducts the full $3,600. That is $1,400 to $2,900 back in your pocket every year. Use our HSA tax savings calculator to see your exact number.

Offering an HSA to Your Small Team

If you have an assistant, associate advisor, or paraplanner working for you, an HSA is one of the simplest benefits you can offer. There are no monthly premiums -- you only pay when someone submits a claim. It is fully deductible for your corporation and tax-free to your team. For a small advisory practice competing for good people, it is a meaningful perk without the overhead of traditional group insurance.

A Talking Point for Your Clients

Here is a bonus. If you work with incorporated business owners, an HSA is something you can recommend to them as well. It fits naturally into any tax planning conversation -- a straightforward way for your clients to reduce their personal tax burden on healthcare spending. It is a practical, easy-to-explain strategy that adds real value to your advisory relationship.

Get Started With Frontier Health

At Frontier Health, setting up an HSA for your advisory practice takes about 10 minutes. Submit receipts through our app, get reimbursed within 48 hours, and everything stays CRA-compliant. No setup fees, cancel anytime.

Simplify Your Business Health Benefits

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