Our product and services are cost-effective and customizable. Designed with both Employers and Employees in mind, let us help you get the most of out of the Everyday HSA.
A Health Spending Account is a flexible way employers can provide their employees with health benefits allowing employees to choose where they spend their allotted funds Employers contributions are 100% tax-deductible and employees expenses are tax-free.
Eliminates most out-of-pocket expenses and pay for health care directly.
A full list of eligible expenses can be found on the CRA Website. View the full list here.
As a plan administrator, you’re the go-to person for your company’s group plan responsible for letting SEP know when employees are added, removed or changing classes. You’ll also help employees with day-to-day administrative needs, so understanding your responsibilities and benefits plan is super important.
Your HSA is funded based on how you set up your application – monthly, quarterly, or yearly. A predetermined amount will be withdrawn from your business bank account and held in trust. Your funds will be used to pay employee claims as they are incurred. The funds always belong to you and may be returned to you at no cost. Working with SEP, y
Let SEP know when new employees are hired, then members can complete the enrolment by adding their dependents and other info needed to submit claims. You will also be able to manage employees through the Employers Self-Service Portal.
A key part of your role is to update necessary employee information on time. This ensures claims are paid correctly and promptly and monthly billing statements are correct. As the plan administrator you need to ensure:
When an employee leaves the company, they can only submit claims that occurred before their last day of employment (or the date the admin uses to remove them from the plan). They would then have to 30,60,90 days to submit any claims that occurred while they were eligible.