How Do Health Spending Accounts Work? Plan members can be reimbursed from their Health Spending Accounts for deductibles, coinsurance amounts, or amounts in excess of plan maximums that would otherwise be paid out-of-pocket. Funds in a Health Spending Account can also be used to pay for items not covered under an employee’s health or dental plan [...]
Did you know that a member could divert wages to pre-fund their HSA's An employee can utilize a compensation adjustment agreement between them and their employer at the end of their employment contract (annually, or at the expiry of a Collective Agreement) to use pre-tax dollars that would have been paid to them as ‘gross wages’ [...]
VRSP stands for "Voluntary Retirement Savings Plan" and was introduced in March 2012 by the Province of Quebec. There are more than 1.1 million Quebecers who don't have access to a workplace savings plan, and one of the government's goals for the VRSP is to address this problem. The plan is tailored to meet the [...]
The companies we deal with daily have done an excellent job of encouraging self sufficency. Clients have now been trained to download invoices, add, terminate, change employee information, etc. Coming within the next few weeks, Sun Life will be introducing mobile applications that will facilitate claims adjudication and payment for claims before an employee even [...]
With the start of the summer vacation season, a number of plan members will undoubtedly spend some of their vacation traveling outside Ontario and outside Canada. Many of these plan members will have medical conditions that they effectively keep under control with medications or other therapies. This will mean that for the purpose of [...]
