Question 1

How accurate is this calculator?

Accepted Answer

The calculator uses 2024 Canadian federal and provincial tax brackets to estimate your marginal tax rate. Results are estimates — consult your accountant for precise numbers based on your full tax situation.

Question 2

What's included in the HSA cost?

Accepted Answer

The HSA cost includes your medical expense plus our 8% admin fee on approved claims. There's no annual fee. All of this is 100% tax-deductible for your corporation.

Question 3

Why does higher income mean more savings?

Accepted Answer

Higher income puts you in a higher tax bracket. Without an HSA, you pay medical expenses with heavily-taxed dollars. With an HSA, you bypass that taxation entirely — so the higher your bracket, the more you save.

Question 4

Is this really legal?

Accepted Answer

Yes. Health Spending Accounts (also called Private Health Services Plans) are explicitly allowed under the Income Tax Act. They've been used by Canadian businesses for decades.

Without an HSA	The estimated pre-tax personal income needed to cover your medical expenses.
With an HSA	The medical expenses paid through the business, plus the 8% administration fee.
The difference	The estimated savings shown above. Your accountant can help you assess your circumstances.

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