Loading color scheme

Health Care Spending Account

What is a Health Care Spending Account?

> You choose the amount you want to spend for each employee's benefits

> The employee chooses what expenses he wishes to use the benefit funds for

> There is an extensive number of expenses allowed by the CRA

> Once an employee has reached the limit you set for the employees they have no

   more benefits until the value is reset the next year

> Dollar values not used by an employee at year end can be carried over to next year

> These plans are usually managed by a 3rd party company. They charge a service

   provider fee and there is GST on this fee.