Understanding how businesses use HSAs to manage health & dental costs

Travel insurance isn’t one-size-fits-all. Age, health history, trip length, and destination all affect what type of coverage is appropriate — and which provider is the best fit.

Health Spending Accounts (HSAs) are a flexible way for incorporated businesses to cover health and dental expenses without committing to a traditional group benefits plan.

Rather than paying monthly premiums, businesses set aside funds and reimburse eligible expenses as they occur, often resulting in meaningful tax efficiency and cost control.

MARBECK does not administer HSAs directly.

Instead, we work with established HSA providers and help business owners understand how different HSA structures may fit their situation.

Below is a general overview of how HSAs work and why different providers may appeal to different types of businesses.

What is a Health Spending Account?

A Health Spending Account allows an incorporated business to reimburse eligible medical, dental, and vision expenses using business dollars.

When structured correctly, these reimbursements:

  • Are tax-deductible to the business

  • Are tax-free to the recipient

  • Can include owners, employees, and eligible family members

HSAs are commonly used by:

  • Owner-managed corporations

  • Small teams or professional corporations

  • Businesses not ready for (or not needing) traditional group benefits

Why businesses choose HSAs

HSAs are often appealing because they offer:

  • No fixed monthly premiums

  • Cost control — you only pay when expenses occur

  • Broad coverage across many CRA-eligible expenses

  • Simple online claim submission and reimbursement

  • Flexibility to scale up or down as business needs change

That said, HSAs aren’t identical across providers.

Administrative structure, fees, plan design, and user experience can vary.

Trusted HSA providers we work with

There are many HSA providers operating in Canada.

Below are several established options we work with regularly — each offering slightly different strengths depending on business size, structure, and preferences.

BENEFITSMYWAY

Often a good fit if you:

  • Want a straightforward, easy-to-understand HSA setup

  • Are an owner-managed or small incorporated business

  • Prefer a clean digital claims process with minimal complexity

 

Why businesses choose BeneFitsMyWay:

  • Simple plan design with clear administration

  • Online claims and direct deposit reimbursement

  • Well-suited for first-time HSA users

  • Efficient setup with predictable fees

Best for: small businesses and professionals looking for simplicity and ease of use.

GO TO ‘BenefitsMYWAY’ NOW

myHSA

Often a good fit if you:

  • Want flexibility in plan design

  • Have a small team or multiple classes of participants

  • Value customizable coverage structures

Why businesses choose myHSA:

  • Flexible plan configurations

  • Broad eligible expense categories

  • Designed to scale with growing businesses

  • Strong administrative support

Best for: businesses that want more customization as they grow.

GO TO ‘myHSA’ NOW [***Do we get a preferred link??]

AyaCARE

Often a good fit if you:

  • Want a modern, tech-forward experience

  • Prefer digital tools and mobile-friendly claims

  • Are comfortable managing benefits online

Why businesses choose Aya CARE:

  • Modern user interface and digital focus

  • Streamlined claims experience

  • Designed with simplicity and transparency in mind

  • Appeals to younger or tech-savvy business owners

Best for: digitally focused businesses that value user experience.

GO TO ‘AyaCARE’ NOW [***Do we get a preferred link??]

The Benefits Trust

Often a good fit if you:

  • Want a more traditional or structured benefits approach

  • Are pairing an HSA alongside other benefit components

  • Value established plan administration experience

Why businesses choose The Benefits Trust:

  • Longstanding experience in benefits administration

  • Structured approach to plan governance

  • Suitable for businesses with more formal benefit needs

Best for: organizations seeking structure and administrative depth.

GO TO ‘The Benefits Trust’ NOW [***Do we get a preferred link??]

Choosing the right HSA provider

All Health Spending Accounts must follow CRA guidelines, but:

  • Fees vary

  • Plan flexibility differs

  • User experience is not the same across providers

The “best” option depends on:

  • Business structure

  • Number of participants

  • Desired level of flexibility

  • Comfort with digital administration

Reviewing provider details carefully can help ensure the HSA aligns with how your business actually operates.

A note on administration and eligibility:

Health Spending Accounts are administered by third-party providers.

Eligible expenses, claim processes, reimbursement timelines, and fees are determined by the provider and governed by CRA rules.

Disclaimer:

MARBECK provides information and access to trusted Health Spending Account partners but does not administer or underwrite HSA plans. Plan design, fees, eligibility, and reimbursement terms are determined by the provider.