At BGM Financial, we help businesses design and implement HSAs that fit their team’s unique needs while providing meaningful cost control and savings.
What is a Healthcare Spending Account?
A Healthcare Spending Account is a tax-efficient benefit that allows employers to allocate a set amount of money for each employee to use toward eligible health and dental expenses.
Employees then choose how to spend their credits — giving them flexibility and choice over their healthcare dollars.
Eligible expenses can include:
- Prescription drugs and dental care
- Vision care (glasses, contacts, eye exams)
- Paramedical services (massage, physiotherapy, chiropractic, etc.)
- Orthodontics and major dental treatments
- Medical devices and supplies
- Health premiums not covered elsewhere
Benefits for Employers
- Cost Control: You decide the annual contribution amount — no unpredictable premiums.
- Tax Advantages: Contributions are 100% tax-deductible to the business.
- Employee Satisfaction: Staff appreciate the freedom to use their benefits in ways that matter most to them.
- Easy Administration: Streamlined setup and digital claims make HSAs simple to manage.
Benefits for Employees
- Flexible Coverage: Choose how to use your HSA funds based on your personal or family needs.
- Tax-Free Reimbursements: Eligible claims are reimbursed tax-free.
- Better Value: Use funds for a wide range of health-related expenses not covered by traditional plans.
