Bring water to a boil in a large saucepan over high heat. Reduce heat and simmer.
Carefully break one egg into a small dish and slide egg into water. Repeat with remaining eggs. Simmer, uncovered, about 5 minutes or until yolks are just set.
Meanwhile, toast muffin halves and place on serving plates. Top each muffin half with spinach leaves, 2 oz. Canadian bacon, 1 tomato slice and 1 egg. Spoon 3 tablespoons hollandaise over each egg. Sprinkle with paprika.