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DRG Insurance Services

Chatham Employee Group Benefits.
We Work with Small to Medium Sized Groups!

Chatham Healthcare Spending Accounts

What if employee "A" needed new glasses, but it wasn't part of your benefit plan?

What if employee "B" wanted more time at the chiropractor, but they reached the limit?

What if employee "C" needed braces for their child, but you didn't have orthodontic coverage?

Enter a "Healthcare Spending Account" (HCSA or HSA). With an HSA you can have the flexibility you need and select the dollar amount you want to spend. An employee can never spend more that what is in the account, so you can never go over your budget.

A healthcare spending account is a practical and effective benefits plan option that can serve as an alternative to, or an addition to, a conventional group health and dental plan. A plan design that includes HSAs allows the employer to set a fixed budget for available benefits, while giving employees the freedom to prioritize their own healthcare spending. With the flexibility of an HSA, your employees will have the choice to select the benefits that they need the most, for them and their family.

Which Benefits Expenses Are Eligible For Coverage?

  • Paramedical Practitioners: Such as Physiotherapy & Massage Therapy
  • Vision Care: Including Laser Eye Surgery, Contact Lenses, Glasses & Examinations
  • Medical Facilities: Including Convalescent Homes & Substance Abuse Facilities
  • Medical Devices: Such as Orthotics, Hearing Aids & CPAP machines
  • Nursing Care: To help you recuperate in the comfort of your own home
  • Expenses Related to Disabilities: Including special programs tuition, tutoring and home or vehicle modifications
  • Dental Services: Orthodontic & Major Services including Dental Implants
  • Out of Country Expenses: For non-emergency expenses while travelling
  • Prescription Drugs: Excluding only over-the-counter medication
  • PHSP Premiums: Including any employee-paid premiums for health care or dental care benefits

The Canada Revenue Agency (CRA) selects the items that are eligible to be covered. They include a long list of expenses that are available to employees. To view the list visit the CRA web site here.

What happens to unused money in an employees' account at the end of the year?

A company has choices with what to do with the money that is left over at the end of a calendar year. Under CRA rules, any unused portion cannot be carried forward more than 1 year. To find out other options, please contact us.

To speak to us about how an HSA can help your business and give you more choice, contact us.