Is a Health Spending Account tax-deductible in Canada?

Yes! A Kibono Health Spending Account – HSA – is 100% tax-deductible for businesses and all employee claim reimbursements are received tax-free. Every dollar you, your employees and their families claim with a Kibono HSA is used to reduce your taxable business income each year. With an HSA the total claim amount plus any associated administration fees and government taxes charged by the HSA provider are also 100% tax-deductible. This is more cost-effective than a traditional health plan where only the extended healthcare, vision, and dental portions are tax deductible.