Employee Appreciation
Empowerment
Employees are in the best position to decide what health care products and services are most appropriate for their family. No HMO, insurer, employer or doctor can make those value judgments. With a health spending account, employees care reimbursed, up to their account balance, for any health product or service permitted by the Income Tax Act.
Non-taxable Compensation
Paying the pharmacist, dentist, optometrist, etc. with after tax dollars is twice as expensive as using a health spending account.
| Income required to pay $1,000 health expenses without health benefits |
Employer cost of a $1,000 contribution to a health spending account |
Savings |
|
|---|---|---|---|
|
Quebec |
$2,000 |
$1,230 |
$770 |
|
Ontario |
$2,000 |
$1,215 |
$785 |
|
Other Regions |
$2,000 |
$1,101 |
$899 |