Employers setup a free Kibono Health Spending Account – HSA – to turn their routine employee medical costs into a 100% tax-deductible business expense. An HSA provider, like Kibono is required to review, approve and reimburse employee claims on behalf of the employer. Kibono charges the employer a fixed-fee per claim for administration services as well as the required government taxes such as PT, RST and HST (*varies by province). Employers can pay monthly invoices or pre-fund their Kibono cash account so claims are reimbursed same-day. The total billed is 100% tax-deductible and claim reimbursements are received tax-free for employees.
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