Health Spending Account
A cost-effective solution to both planned and unplanned medical and dental expenses.
A Health Spending Account (HSA) is a way to pay for out-of-pocket medical and dental expenses without going directly into your personal bank account.
HSA Major Benefits
- You are not taxed on the Flex Credits deposited into your HSA.
- The reimbursements you receive from your account are not taxable.
Carryover Credits
Any unused credits during your benefit year do carry over into the next benefit year to be utilized. Any carry over credits from your HSA balance during the benefit year (January 1-December 31) that are not used by the end of the second year will be automatically forfeited as required by the Canada Revenue Agency.
Insufficient Credits
If there are insufficient credits in your HSA account to pay remaining bills by the end of the benefit year, you will not be reimbursed for any unpaid amount.