A Health Spending Account (HSA) is a tax deductible bank account for your healthcare needs . . . allowing you the freedom to spend as it suits your lifestyle
No premium increases EVER
You decide how much you want and/or need in your HSA each year – increases or decreases are up to you
No wasted or lost contributions
Unspent contributions at year end carry forward for spending the following year
Ease of use
Your Fiducia Wealth HSA provides a Visa card – pay your healthcare providers and pharmacy directly –no claim forms and no waiting for reimbursement
Choice of spending
Unparalleled list of eligible expenses, with no limits or exceptions, to meet your individual healthcare needs. View eligible expenses
Any financially dependent family member – related by blood or marriage (siblings, parents, grandparents, etc)
Medical treatments outside of Canada
No need to wait for an MRI in Canada – receive specialized treatments provided in other countries
Frequently Asked Questions
What is a Health Spending Account (HSA)?
This is, essentially, a savings account for your health. Your business deposits pre-tax dollars are deposited into your account and they can be spend on the healthcare services of your choice.
Why can’t I just put money into a savings account on my own?
The Canada Revenue Agency only recognizes the tax deductible status of Health Spending Accounts when they are established and managed by a Third Party Administrator.
Where can I use my HSA?
Your HSA is not restricted by cost or healthcare provider type…it offers a much broader range of services than any health insurance plan. Because of the tax deductible nature of this account, eligible services are determined by the government, and vary province by province.
Are there any fees associated with setting up an HSA?
There is a 10% administration fee on all HSA contributions. There are no annual fees or transaction fees.
How do I access my HSA?
You will be issued a Visa Card to pay for your HSA expenses.
Who is Covered on my HSA?
ALL your financial dependents, which can include spouse, children, parents, siblings, etc.
Why is Fiducia so inexpensive, compared to other plans?
We replaced the high cost coverages – like dental and vision – with a Health Spending Account (HSA). So instead of paying high premiums, we are contributing your dollars toward your health spending!
Who is the Administrator of the HSA?
We are Canada’s fastest growing Third Party Administrator of Health Spending Accounts and have over 200,000 clients. We have taken ‘ease of use’ to a new level with our pay direct Visa Card and our advanced claims processing.
Your business makes tax deductible deposits to your personal Health Spending Account (HSA), and you can then use this tax free money to pay for the healthcare expenses of your choice.
|Extended Health Care||Dental & Vision||Special Care|
Physicians & Surgeons
Medical Radiation Treatments
Massage Therapist (RMT
Prescription Contact Lenses
Fertility Drugs & Treatment
Special Needs Tuition
Elderly Parent & Dependent Care
Schooling For Spectrum Line Disorders
|* this list is in accordance with the rules governing the Medical Tax Benefit and is subject to change** for medical or reconstructive purposes only|