|
Employee Retention can be difficult for any business; furthermore, competing with the 'big guys' for employees can be very hard if you cannot offer 'perks' to your employees.
A HSA is a cost-controlled benefit you can offer your employees. Not only can the employee see the amount they can spend on health related costs, they can control what they spend the money on. Whether they are saving for cosmetic surgery, laser eye surgery or braces for their children, an HSA provides them with freedom of choice they desire.
A Health Spending Account (HSA) is a uniquely designed 'bank account' established in compliance with the Canada Revenue Agency, exclusively for the purpose of health care spending. It is a personal medical program that allows YOU to determine what types of health related expenses you can claim. Unused contributions are not lost as year end, they carry forward for spending in the following years, for future care needs. In addition, the expenses are them 100% deductible under the Income Tax Act, as a business expense.
Benefits of the HSA include:
- Coverage for ALL health and medical related expenses
- 100% tax deductible
- You determine the amount of contributions
- You determine what expenses you want to claim
- You retain any excess contributions, they are not lost at the end of the year
- You can save for larger health care costs
- Excellent benefit for employee retention
- Budget certainty; you contribute and claim what you want
- Optional stop/loss insurance for drugs, hospital, paramedical
- Travel Emergency Medical
You can even add the additional benefits of a HSA to an existing group insurance program to cover the 'extras' that are missing from your existing plan.
Your employees are one of your greatest assets.
Give them the benefits they deserve.
Copyright (C) 2006, Ledgers Financial Services Inc.
.
.
|
