Health Spending Accounts in Newfoundland and Labrador: Claim and Save

For incorporated businesses in Newfoundland and Labrador, a Health Spending Account (HSA) transforms personal medical expenses into corporate deductions.

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Hiveworks makes the process straightforward and CRA-compliant so you can save more.

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What is a Health Spending Account?

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An HSA is a self-insured health plan your business sets up for you.

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You pay for the service, upload the receipt, and your corporation reimburses you.

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That reimbursement is tax-free for you and a write-off for the company.

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You avoid insurance premiums and preset coverage rules.

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HSAs keep things simple and efficient.

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Need a full breakdown? Visit our What Is a Health Spending Account page.

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Why Newfoundland Business Owners Choose HSAs

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Even in provinces with robust health care, many everyday needs like dental work, eye care, and therapy are not included.

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With an HSA, your business reimburses you for those expenses, reducing the burden of after-tax payments.

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Example:
Earning $115,000 with $4,500 in medical costs? You could save over $2,600 compared to paying personally.

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Use our HSA Savings Calculator to estimate your savings based on Newfoundland tax rates.

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What’s Covered Under an HSA?

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In Newfoundland and Labrador, HSAs apply to a broad scope of licensed practitioners. Services qualify if the provider is licensed in NL and recognized under CRA’s METC rules.

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The full list of eligible practitioners in Newfoundland:

• Acupuncturist
• Audiologist
• Chiropractor
• Dental assistant
• Dental hygienist
• Dental technician or technologist
• Dental therapist
• Dentist
• Denturist, dental mechanic, denturologist
• Dietician
• Hearing aid practitioner
• Licensed or registered practical nurse
• Medical laboratory technologist
• Medical radiation technologist
• Occupational therapist
• Optician
• Optometrist
• Pharmacist
• Physician
• Physiotherapist or physical therapist
• Psychologist
• Registered massage therapist or massage therapist
• Registered nurse (including nurse practitioner)
• Respiratory therapist
• Social worker
• Speech language pathologist
• Surgeon

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This broad list means your HSA in Newfoundland and Labrador can cover everything from dental and vision care to alternative therapies and specialized medical services.

In addition, over 100 medical expenses are also covered.

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Examples of eligible medical expenses include:

• Braces and Invisalign
• Eye care (exams, prescription glasses, contact lenses, laser eye surgery)
• Prescription medications
• Orthotics and orthopedic footwear
• Group benefit premiums not reimbursed elsewhere

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See the full list in our Eligible Expenses Guide.

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Newfoundland HSA Claim Example

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Let’s say you visit the dentist and submit a $400 claim through your Hiveworks Health Spending Account.

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Here’s exactly what happens:

• You pay $400 out of pocket and submit your receipt through Hiveworks
• Hiveworks reviews and approves your claim
• Your corporation is invoiced for the claim amount plus applicable Newfoundland taxes (5% Insurance Premium Tax)
• You’re reimbursed the full $200, tax-free

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Newfoundland Taxes on HSA Claims

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In Newfoundland, provincial taxes apply to all Health Spending Account reimbursements because they’re considered insured health benefits.

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Here’s what your corporation pays:

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• The out-of-pocket amount you spent: $400

• 5% Insurance Premium Tax on the claim amount: $20

Total invoiced: $420

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These taxes are required by the province and apply to all HSA providers. Your corporation deducts the full $420 as a business expense, and you get personally reimbursed the full $400, tax-free.

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Built for Newfoundland's Incorporated Professionals

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Hiveworks supports professionals across Newfoundland and Labrador, from St. John’s to Corner Brook to Gander, with a smarter way to handle health expenses.

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Our platform helps you:

• Set your annual reimbursement cap (up to $15,000)
• Add your spouse and dependants at no extra cost
• Submit multiple claims anytime
• Track reimbursements online
• Access clean reports at tax time

No paperwork. No claim-by-claim admin fees. Just one flat rate.

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Already Have Benefits? Your HSA Still Helps

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Many employer or spousal plans don’t cover 100% of your costs. An HSA helps with what’s left over.

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You can claim:

• The uncovered portion of medical or dental expenses
• Vision costs beyond your plan’s annual max
• Services excluded by your plan (e.g. orthodontics, acupuncture, or LASIK)

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Learn more about Combining HSAs with Group Benefits or Spousal Plan Coordination.

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Flat Annual Fee. No Surprises.

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Hiveworks charges one simple fee: $279 per year.

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That includes:

• Up to $15,000 in claims
• Unlimited submissions
• Spouse and dependants expenses
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No monthly fees or hidden charges.

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Get Started Today

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Only expenses dated after your plan begins are eligible.

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Convert out-of-pocket health costs into lasting savings through Hiveworks.

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Open an HSA in Minutes or Contact Us if you have questions.