Revenue Canada Health Spending Account Eligible Expenses

Eligible expenses under your hsa are determined by the canada revenue agency cra.

Revenue canada health spending account eligible expenses. If you or your employees have questions about what your health spending account in canada covers check with the canada revenue agency. They keep an up to date list of all eligible expenses for the health spending account program. Air conditioner 1 000 or 50 of the amount paid for the air conditioner whichever is less for a person with a severe chronic ailment disease or disorder prescription required. Canada revenue agency eligible health spending expenses acoustic coupler prescription required.

A health spending account can cover the portion of expenses not covered by a health or dental benefits plan. Unlike traditional plans health care spending accounts also cover an expansive list of services that reflect the canada revenue agency s eligible medical expenses says chan. Eligible expenses eligible expenses are those that are eligible for the medical expense tax credit under the income tax act canada. Hsa eligibility hsa expenses.

Medical and health care expenses are never tax deductible on personal taxes but instead are eligible for a tax credit only. Some examples of eligible expenses include co pay amounts and deductibles vision care expenses and. Lately the cra has noticed several businesses improperly claiming deductions related to health spending accounts hsa and it wants to alert potential participants about this scheme. Check the cra website to make sure you understand the most up to date guidelines.

According to the cra if a medical expense qualifies as an eligible claim through a group health and dental plan it is eligible under your hsa. For more detailed information please refer to the cra publication it 519r2 medical expense disability tax credits and attendant care expense deduction also available on this website. Medical expenses change as treatment and technology changes. If possible check expenses before you incur them.

This includes your deductible co insurance portion not covered if your plan covers less than 100 or amounts that are over your plan maximums. The canada revenue agency cra is always on the lookout for tax schemes and opportunities to warn canadians about them.