HSAs: Why You're Paying Too Much (and How to Fix It)

Health Spending Accounts (HSAs) were designed to be a simple, tax-free way for businesses to offer health benefits to their team. Over time, many providers have added extra fees, commissions, and fine print that make them far less cost-effective than they should be.
‍

The reality? Most HSAs take a cut of your budget—whether through commissions on claims, setup fees, or percentage-based pricing—meaning less money actually goes to employee benefits.

_{Health Spending Accounts (HSAs):
The Easiest Way to Offer Employee Benefits}

For many small businesses, offering employee benefits feels like a big, expensive step—one they often put off for years. Traditional group insurance is complex, rigid, and costly, making it hard for businesses to provide meaningful support without overcommitting.

That’s where Health Spending Accounts (HSAs) come in.
‍

An HSA is a tax-efficient, CRA-approved way for businesses to cover health expenses without locking into a fixed insurance plan. Employers set aside a budget, and employees use it for eligible medical expenses—100% tax-free for both sides.
‍

It’s one of the best first steps for any business looking to offer benefits for the first time.

_{The Problem? Most HSAs Still Take a Cut}

While HSAs are supposed to be simple and flexible, many providers chip away at their value with:

🚨 Per-claim commissions – Taking a percentage of every reimbursement.

🚨 Setup fees – Charging businesses just to get started.

🚨 Complex pricing models – Making costs unpredictable and difficult to control.
‍

For small businesses looking for an affordable way to start offering benefits, these fees add unnecessary friction.

_{Tedy: The First (and Only) HSA With Zero Fees}

Tedy is the only HSA in Canada that doesn’t take a cut. No commissions. No setup fees. No hidden costs.
‍

Instead of charging per claim, Tedy uses a simple, flat per-seat fee—so businesses always know exactly what they’re paying.
‍

✔ 100% of your budget goes to employee health—exactly where it belongs.

✔ No deductions from claims, keeping benefits truly tax-efficient.

✔ Businesses save thousands while offering better flexibility.

_{Tedy as a 'Starter Kit' for Employee Benefits}

For small businesses and startups, Tedy is more than just an HSA—it’s the easiest way to start offering benefits without the complexity of group insurance.
‍

✅ No minimum number of employees required – Even a small team can get started.

✅ No long-term contracts – Businesses stay in control of their budget.

✅ Fully customizable – Set a budget that fits your company’s size and needs.
‍

Think of it as your company’s 'starter kit' for employee benefits—a flexible, tax-free way to take care of your team without overcommitting to traditional plans.

_{How to Set Up an HSA in 15 Minutes}

Most traditional benefits require long approval processes, paperwork, and waiting periods.
‍

With Tedy, setting up an HSA takes just 15 minutes.
‍

💻 Sign up → Set a budget for employee health expenses.

📑 Employees submit claims → 100% digital, fast, and paperless.

💸 Get reimbursed tax-free → No hidden fees, just direct savings.
‍

Everything is automated, seamless, and built for modern businesses, so owners spend less time on admin and more time growing.

^{A Better Future for Small Business Benefits}

For too long, small businesses have been told that offering benefits is expensive and complicated. HSAs provide an easier, tax-efficient alternative—but only if they aren’t loaded with unnecessary fees.

Tedy is changing the game, making HSAs the simplest, most cost-effective way for businesses to start offering benefits on their own terms.

^{Thinking About Offering Benefits for the First Time?}

Tedy makes it easy to start with a flexible, affordable HSA—no fees, no commitment, just a smarter way to take care of your team.
‍

👉 Learn more about how Tedy works

‍