business group insurance, and health spending account details

The combination of premium based insurance for catastrophic events with a Health Spending Account (HSA) for routine or normal health and dental expenses is a fresh solution for a business benefit plan. Some of the features of the plan include:

Catastrophic Insurance (Monthly Premiums)

Health Spending Account (Pay-as-you-go + administration fee) • On-line, web based claims and plan administration system. Account activity and claims status during processing is available to all employees. Plan Administrators can add or remove employees directly.
• Health and Dental expenses paid using “Pre-Tax” dollars from the business
• Different annual limits can be set for different job classifications
• Pay for only the actual claims made.
• In general, expenses are eligible for reimbursement if they qualify as a medical expense tax credit under the Income Tax Act of Canada. As a brief summary, the types of eligible medical expenses include:

• Prescription Drugs (with DIN #)
• Prescription Glasses & Contacts
• Dental and Orthodontics
• Laser Eye Surgery
• Cosmetic Surgery
• Physiotherapy
• Out-of-country medical
• Acupuncture
• Unpaid spousal benefit coordination

Here are some examples of ineligible expenses. Please do not include these on your Health Claim submission:

• Over the counter medications or sunglasses
• Herbal remedies and supplements
• Vitamins
• Provincial Health Care plan premiums