Health Spending Accounts Alberta
Do your employee benefit plans meet yours and your employee’s needs? Are you looking for more benefit flexibility for your employees and increased cost containment for your business?
An HSA allows you, as an employer, to set a pre-determined dollar amount, which your employees can then use to pay for medical and dental expenses.
For Businesses of any size that have arms length (non related employees); Defined classes of employees with different limits are common and usually include a class for executive or senior management. Certain upper limits apply. Health Spending Accounts run on a calendar year basis.
Health Spending Account Advantages
- Since the employer sets the annual amount for each benefit class, you can calculate the maximum cost of the program in advance.
- Employer has complete control when it comes to plan design: Class structure, benefit limits, installment frequency and carry over of funds are all in your control.
Broader coverage eligibility
- unlike a traditional group plan, employees will receive their health & dental benefits without limitations or restrictions. Your employees will now have the flexibility to allocate & manage their benefit spending to suit their own unique circumstance.
- Health Spending Accounts allow employees to be reimbursed for many health & dental related expenses not covered by a traditional benefit plan.
- Amounts claimed from an HSA are a tax deductible expense for the business.
- Claim benefits received by employee's are tax free.
Full customization for your organizations Health Spending Account is available as follows:
- Waiting periods.
- Carry forwards.
- Claims run off period.
- Pro Rating Benefits.
Employee Benefits Alberta
- Plans & Eligibility | Health Plans Alberta
- Health Spending Accounts Alberta