Health Spending Account (Reimbursing Health Expenses)

Many employers choose to provide defined contribution health spending accounts for their staff to supplement or replace health insurance. This gives employees flexibility to design a customized benefit plan and the employer certainty over costs.

Employee Satisfaction:

• Health benefits are non-taxable compensation to employees.
• Employees empowered to make their own personal healthcare purchase decisions by purchasing any combination of health products and services (drugs, dental, vision care, insurance, etc.)
• Employee claims are fully paid, as permitted by law and to the extent of their health spending account balance.

Employer Satisfaction:

• The employer allocates the benefits budget considering total compensation.
• Future costs are at the discretion of the employer since the contribution schedule may change at the beginning of every calendar year.
• Employer costs are limited to their contributions, an administration fee (typically 10%), plus provincial and federal taxes (typically 10.5%).
• Any amounts that employees do not use within two calendar years are refunded to the employer.

Introducing a health spending account can be rewarding for the organization and staff.  Please let me know if you would like assistance,
John Vandeweerd, President
Benefits Interface, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.