Health Spending Accounts in the Northwest Territories: Cover What Insurance Misses

For incorporated professionals in the Northwest Territories, a Health Spending Account (HSA) offers a tax-efficient alternative to paying for health expenses personally.

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Hiveworks helps you stay CRA-compliant while unlocking significant savings.

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What is a Health Spending Account?

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An HSA is a health plan set up by your corporation to cover your personal health and dental expenses.

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You pay out-of-pocket, submit the claim, and your company reimburses you after approval.

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The reimbursement is fully deductible for the corporation and tax-free for you.

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You avoid ongoing premiums and restricted insurance coverage.

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HSAs are straightforward and cost-effective.

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

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Why Northwest Territories Business Owners Choose HSAs

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Strong public health care does not eliminate personal medical costs.

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Dental, therapy, and vision bills still come out of your pocket, unless you use an HSA to reimburse them through your corporation.

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Example:
Earning $115,000 with $6,000 in medical costs? You could save over $3,400 compared to paying personally.

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

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What’s Covered Under an HSA?

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If the practitioner is licensed in the NWT and the service is recognized under CRA’s METC, it’s covered by your HSA.

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The full list of eligible practitioners in NWT:

• Dental hygienist
• Dental therapist
• Dentist
• Denturist, dental mechanic, denturologist
• Licensed or registered practical nurse
• Midwife
• Ophthalmic medical assistant
• Optometrist
• Pharmacist
• Physician
• Psychologist
• Registered nurse (including nurse practitioner)
• Registered nursing assistant
• Surgeon

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Many of the most common practitioners are eligible in the Northwest Territories for coverage under your HSA...

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‍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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Northwest Territories HSA Claim Example

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Let’s walk through a simple example:

• You pay $200 out of pocket for a visit to a speciailized physician
• Upload your receipt through your Hiveworks dashboard
• We review the claim for CRA eligibility
• Your corporation is invoiced $200
• You receive the full $200 back via direct deposit

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There are no provincial insurance taxes on HSA claims in Northwest Territories.

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Built for Northwest Territories's Incorporated Professionals

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Hiveworks supports professionals across the Northwest Territories, from Yellowknife to Inuvik to Hay River, 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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Am I Eligible?

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Eligibility is straight-forward. Take a moment to review the eligibility details.

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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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Keep more of your income by using Hiveworks.

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