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myHSA Healthcare Spending Account

with optional TRAVEL AND CATASTROPHIC MEDICAL LOSS COVERAGE

SIMPLE!

Set up your plan by deciding how much you will allocate annually to your employees and their families for spending on healthcare expenses.

You can allocate the “Health Spending Allowance” on a monthly, quarterly or annual basis.

After paying out of pocket for medical, dental or vision expenses, the employee submits receipts using the easy online portal or smartphone app. When the claim is approved, the claim amount (up to their limit) is direct deposited to their bank account . Your plan administrator is notified of the amount of claims being submitted and payment from the company’s bank account is debited.

COST EFFECTIVE!

With The BeneCorp Plan’s myHSA there is no pre-funding required so your business pays only for claims made by employees plus a small administration fee and GST/HST on the fee only.

 TAX EFFICIENT!

Reimbursements are Tax Free to the employee!

Claim costs, administration fee and taxes are a 100% tax deduction for your company.

FLEXIBLE!

You can set up your plan to suit your needs and your budget. You may choose to payout 100%, 90% or 80% of  all allowable medical expenses up to the credited limits, or choose only to provide dental or vision care benefits.

The plan allows for setting up of groups or classes of employees that have varying amounts of benefits. This allows you to reward your senior or long-term employees  higher credit limits or percentage of payouts than for junior employees.

Add the option to of  travel and catastrophic medical coverage and your myHSA plan to fully protect yourself and your employees.

Contact us to help you set up your plan, your way.

  • 2 plan styles healthcare spending pay as you go Contact us
  • News and Updates

    Online claim submission – coming soon!

    OCTOBER 2014 Watch for news about our new online portal and smartphone apps for claim submissions. No more mailing of paper claims and receipts! Track your claims, view your remaining credits, carry forward amounts and claims history. 24 hour Chat help line and more! Stay tuned.

    CRA changes bonus allocation rulings

    Effective January 1, 2013, employers can no longer allocate employee bonuses to a HCSA on a tax free basis.
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