Healthcare spending accounts for your employees
A flexible investment in your employees’ wellbeing
Empower your workforce with extra money to spend on the healthcare expenses that matter most to them
Flexibility for a diverse workforce
Meets the different needs of your multi-generational team
Helps to contain costs
You set the amounts with our customisable plans
More efficient claims process
Less paperwork and more convenience for your employees
What is a healthcare spending account (HCSA)?
It’s a simple and effective way for your employees to pay for expenses not covered under their benefits plan.
Here’s how it works: For example, a $100 credit in the healthcare spending account pays for $100 worth of eligible medical expenses.
Whether that income tax-free money is used to pay deductibles for covered expenses or pay for health-related services not covered by their benefits plan, the choice is entirely up to your employee.
Why should I offer a HCSA to my employees?
Today’s workforce is more diverse than ever, and your team may all prioritize spending on different aspects of their health in ways that may not be covered by your benefits plan.
A healthcare spending account gives them the flexibility to do that.
As an employer, healthcare spending accounts can help you contain healthcare costs and reduces the financial impact of employee turnover by empowering them to invest in their wellbeing – their way.
What healthcare spending account options does Canada Life offer?
We have two options, designed to work together to create a truly holistic benefits experience for your plan members.
- Using their Health SolutionsPlus VISA® card, plan members instantly use their HCSA dollars
- Because they pay on-the-spot at eligible providers, there’s no paperwork or wait for reimbursement
- Can be used for eligible expenses not covered by your benefits plan, or top-up residual balances for covered expenses
- Eligible providers include dentists, eye doctors, pharmacies, physiotherapists and psychologists
Healthy Living Account
- Allows plan members to instantly pay for wellness-related expenses not covered by their benefits plan
- Boosts employee wellbeing by covering things like gym memberships, sports clubs, and natural healing treatments
- No extra admin fees if added to an existing Health SolutionsPlus plan
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