
Grace Thompson
Content Specialist
Why Canadian Businesses Are Combining Insurance With HSAs
Canadian businesses are discovering that combining group insurance with Health Spending Accounts (HSAs) creates a more flexible, cost-effective benefits strategy. While traditional group plans cover basics like prescriptions and dental, they leave gaps in mental health, vision care, paramedical services, and specialty treatments. By layering an HSA on top, employers provide comprehensive coverage while maintaining predictable costs—HSA contributions are tax-deductible for businesses and received tax-free by employees. This hybrid model is especially valuable for small and mid-sized companies, allowing them to offer competitive benefits without premium shock at renewal.