Health Spending Accounts in PEI: Keep More of Your Income

If you own an incorporated business in Prince Edward Island, a Health Spending Account (HSA) gives you a flexible way to manage out-of-pocket health costs.

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Hiveworks keeps the plan fully CRA-compliant and maximizes the tax advantages for both you and your company.

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What is a Health Spending Account?

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A Health Spending Account allows you to shift personal health bills to your corporation.

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You cover the cost personally like you normally would, submit a receipt to us, and receive repayment once the claim is approved.

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The benefit is tax-free and the expense is deductible to the business.

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There are no recurring premiums or complicated group plans.

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HSAs give you clarity and savings.

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

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Why PEI Business Owners Choose HSAs

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Health care in Canada is strong, yet families still face large out-of-pocket bills for services like braces, counselling, and vision care.

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An HSA shifts those expenses into your corporation, giving you real tax savings.

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Example:
Earning $115,000 with $5,500 in medical costs? You could save just under $4,000 compared to paying personally.

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

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What’s Covered Under an HSA?

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A Health Spending Account in Prince Edward Island can be used with many licensed providers. If they’re licensed in PEI and the service is METC-eligible, you can claim it.

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The full list of eligible practitioners in PEI:

• Chiropractor
• Counselling therapist
• Dental assistant
• Dental hygienist
• Dentist
• Denturist, dental mechanic, denturologist
• Dietician
• Emergency medical technician
• Licensed or registered practical nurse
• Occupational therapist
• Optician
• Optometrist
• Pharmacist
• Physician
• Physiotherapist or physical therapist
• Psychologist
• Registered massage therapist or massage therapist
• Registered nurse (including nurse practitioner)
• Social worker
• Surgeon

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With these practitioners included, an HSA in PEI helps you manage both everyday health needs and higher-cost services through your corporation.

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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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PEI HSA Claim Example

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Let’s walk through a simple example:

• You pay $100 out of pocket for a prescription medication on a monthly basis
• Upload your receipt through the Hiveworks dashboard
• We review the claim for CRA eligibility
• Your corporation is invoiced $100
• You receive the full $100 back via direct deposit

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There are no provincial insurance taxes on HSA claims in PEI.

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Built for PEI's Incorporated Professionals

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Hiveworks supports professionals across Prince Edward Island, from Charlottetown to Summerside to Montague, 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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Let Hiveworks help you transform personal medical spending into corporate tax savings.

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