77% reduction
Tax Savings
The following chart compares the cost of medical, vision and dental services paid with after tax dollars compared to the same expensed paid through a Health Spending Account.
| Income required to pay $1,000 health expenses |
| Region |
Personal Expense |
Cost of HSA |
Savings |
| Quebec |
$2,000 |
$1,230 |
$770 |
| Ontario |
$2,000 |
$1,215 |
$785 |
| Newfoundland |
$2,000 |
$1,150 |
$850 |
| Other Regions |
$2,000 |
$1,101 |
$899 |
50% marginal income tax rate used,
payroll tax savings (CPP/QPP, Provincial Hospital Insurance, EI, WC) not calculated,
provincial retail sales tax and provincial premium tax base on the province of residence.
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