Go above and beyond for your staff
Diversity in your team requires flexibility in your group benefits plan. Flexible benefits empower you to help meet the diverse wants and needs of your team by providing them with flexible benefit dollars they can spend however they choose. And, by determining in advance how many flexible benefit dollars each employee can spend per year, you’re adding an important element of cost control that will help keep your company’s benefits spending in check.
A Health Spending Account enables you to provide your team with tax-free benefit dollars each year to spend on any CRA-approved Health or Dental expense that they choose. They can spend their benefit dollars in a number of ways including topping-up coverage on your traditional benefits plan, paying down deductibles on the plan, or paying for a Health or Dental expense for which there is no existing coverage.
A Personal Spending Account enables you to provide your employees with the ability to choose how to spend taxable benefit dollars on just about any wellness-related expense that they choose, and that you agree to cover. Eligible expenses could include such things as fitness club memberships, cooking classes, sport registration fees, and a seemingly endless list of other possible wellness-related expenses.
myHSA is Wiegers Financial & Benefits’ preferred Health and Personal Spending Account supplier.
We work with myHSA, a technology company that is our Health Spending Account supplier, MyHSA is also a technologically advanced option, and allows for claims to be submitted and reimbursed electronically, saving both time and effort. Through Wiegers Financial & Benefits, there is no set-up fee because we set up our clients’ HSAs internally, allowing for both ease of administration as well as competitive pricing.
Spending accounts managed through Wiegers Financial & Benefits is EASY:
- The myHSA smartphone app allows you to submit claims on-the-go
- Claims are paid via direct deposit
- Balances and claims history are available on the app.
- Simple provider lookup available online
for Plan Administrators
- Easy administration with an easy-to-navigate web portal
- Quickly see plan usage with reporting
- With pre-authorized debit, there is no worrying about your account balance to pay employee claims
- Easy set-up and allocation as employees are walked through it upon initial login
- Can generate real-time taxability reports for Wellness Spending Accounts
- Less employee time spent on claim submission
- Less plan administration time spent on maintenance
- Improved and real-time reporting so you can see where your dollars are being spent
- No set-up fees
Resources For Employers
Read more in our blog where our experts have written useful articles on benefits plans and how flex benefits can help contribute to employee wellness.