Health Spending Account Nova Scotia
Potential annual savings on $10k expenses
$11,739
Tax rate
54.0%
Health Spending Account for Nova Scotia Businesses
Nova Scotia business owners can significantly reduce their health costs with a Health Spending Account. With a combined marginal tax rate of up to 54.0%, Nova Scotia entrepreneurs save substantially by using pre-tax corporate dollars for medical expenses instead of after-tax personal income.
Why Nova Scotia Businesses Choose HSAs
Traditional health insurance in Nova Scotia 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 Nova Scotia Business Owners
Based on Nova Scotia's combined marginal tax rate of 54.0%:
- $5,000 in expenses saves you approximately $5,870
- $10,000 in expenses saves you approximately $11,739
This means for every dollar you spend on health expenses through your HSA, you save 54.0 cents compared to paying with after-tax personal income.
Who Can Use an HSA in Nova Scotia?
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 Nova Scotia?
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 Nova Scotia
- 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 Nova Scotia
See how much you could save on health expenses with an HSA.
Traditional
$4,348
With HSA
$2,000
Traditional
$10,870
With HSA
$5,000
Traditional
$21,739
With HSA
$10,000
Traditional
$32,609
With HSA
$15,000
| Annual Expenses | Traditional (After-Tax) | With HSA (Pre-Tax) | You Save |
|---|---|---|---|
| $2,000 | $4,348 | $2,000 | 2,348 |
| $5,000 | $10,870 | $5,000 | 5,870 |
| $10,000 | $21,739 | $10,000 | 11,739 |
| $15,000 | $32,609 | $15,000 | 17,609 |
*Based on 54.0% 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
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