Health Spending Account British Columbia
Potential annual savings on $10k expenses
$11,505
Tax rate
53.5%
Health Spending Account for British Columbia Businesses
British Columbia business owners can significantly reduce their health costs with a Health Spending Account. With a combined marginal tax rate of up to 53.5%, British Columbia entrepreneurs save substantially by using pre-tax corporate dollars for medical expenses instead of after-tax personal income.
Why British Columbia Businesses Choose HSAs
Traditional health insurance in British Columbia is expensive and inflexible:
- Annual premiums of $3,000-$8,000+ per person
- Restrictive coverage with deductibles and co-pays
- Use-it-or-lose-it policies
- Annual increases regardless of claims
With a Frontier Health Spending Account:
- No premiums - Pay only when you have expenses
- 100% tax-deductible for your corporation
- Tax-free reimbursements for you and your family
- Flexible coverage for dental, vision, prescriptions, therapy, and more
Tax Savings for British Columbia Business Owners
Based on British Columbia's combined marginal tax rate of 53.5%:
- $5,000 in expenses saves you approximately $5,753
- $10,000 in expenses saves you approximately $11,505
This means for every dollar you spend on health expenses through your HSA, you save 53.5 cents compared to paying with after-tax personal income.
Who Can Use an HSA in British Columbia?
HSAs are available to:
- Incorporated business owners (sole proprietors are NOT eligible)
- Employees of incorporated businesses
- Family members (spouse, dependent children)
If you're self-employed but not incorporated, you may want to consider incorporating to access HSA benefits.
What Can You Claim in British Columbia?
HSAs cover all CRA-eligible medical expenses, including:
- Dental: Cleanings, fillings, crowns, orthodontics
- Vision: Eyeglasses, contacts, laser eye surgery
- Prescriptions: All prescription medications
- Therapy: Physiotherapy, massage, mental health
- Medical devices: CPAP machines, mobility aids
- And many more eligible expenses
Getting Started in British Columbia
- Sign up at Frontier HSA (takes 5 minutes)
- Set your annual budget per person
- Submit claims when you have medical expenses
- Get reimbursed within 2-3 business days
No setup fees. No monthly premiums. Cancel anytime.
Tax Savings in British Columbia
See how much you could save on health expenses with an HSA.
Traditional
$4,301
With HSA
$2,000
Traditional
$10,753
With HSA
$5,000
Traditional
$21,505
With HSA
$10,000
Traditional
$32,258
With HSA
$15,000
| Annual Expenses | Traditional (After-Tax) | With HSA (Pre-Tax) | You Save |
|---|---|---|---|
| $2,000 | $4,301 | $2,000 | 2,301 |
| $5,000 | $10,753 | $5,000 | 5,753 |
| $10,000 | $21,505 | $10,000 | 11,505 |
| $15,000 | $32,258 | $15,000 | 17,258 |
*Based on 53.5% combined marginal tax rate
HSA Benefits
All HSA expenses are deductible business expenses
Only pay when you actually use healthcare
Dental, vision, prescriptions, therapy & more
Get your money back in 2-3 business days
Ready to save on health expenses in British Columbia?
Set up your Health Spending Account in 10 minutes. Start saving on taxes immediately.
Get Started