Private Health Services Plans

Private Health Service Plans / Health Care Spending Account

Qualifying private health service plans, such as the Health Care Spending Account (HCSA), are very common nowadays. Not only is the Health Care Spending Account a compensation tool for employees but there are also tax benefits available for both employer and employee. Premiums paid by the employer are tax deductible. Premiums paid by the employee qualify for the medical expenses tax credit, and contributions paid by the employer and the value of any benefit received from the plan are not taxable to the employee.

Reimbursements of Health Care Spending Account premiums paid by an employee are considered non-taxable benefits.

Your trusted Chartered Accountant provides tax, assurance services and accounting engagements to individual and small business clients located in Calgary and area.