Category Archives: Healthcare Spending Accounts
Robert Crowder Encourages Benefits Advisors to Offer HCSAs
A healthcare spending account (HCSA or HSA) is a great way for any business to customize their benefits plan to suit their compensation philosophy and business goals. It can complement a traditional core health and dental plan or it can be a standalone solution. It can be used to compensate (…) [Read Full Article]
How Do You Transition to a Healthcare Spending Account?
A benefits plan is a promise between an employer and employee. However, employers may periodically change that promise, for a wide variety of reasons. Some of those reasons include achieving greater cost control, reducing future spending, improving flexibility, increasing employee choice, aligning benefits with compensation philosophy, or simply because they (…) [Read Full Article]
Posted in Healthcare Spending Accounts
What Is a Healthcare Spending Account? [Video]
A healthcare spending account (HCSA) is a benefits solution that can be used either as a complement to a core health and dental plan, or as a standalone option. What Is It? Essentially, an HCSA is a pool of money available to employees and their families, which an employer funds (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:employee benefits, HCSA
Do You Know These Details about Healthcare Spending Accounts?
Are you considering a healthcare spending account (HCSA) for your business? Or maybe you already have one but you’re not sure about some of the finer details? Several key details of HCSAs are often overlooked – but knowing the ins and outs of an HCSA will help you (and your (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:employee benefits, HCSA
Will Your Benefits Plan Cover a Medical Marijuana Claim?
Medical marijuana is a controversial subject. If you or a family member has been prescribed medical marijuana, you’re probably wondering whether your benefits plan will actually cover it or not. The legislation and regulations surrounding medical marijuana access and use are in constant flux, which can become confusing. Right now, (…) [Read Full Article]
Posted in Employee Benefits, Healthcare Spending Accounts
Tags:benefits plan, HCSA
FREE eBook! Get “The Smart Employer’s Guide to HCSAs”
A healthcare spending account (HCSA) is a practical, affordable, and flexible benefits plan option that has a multitude of advantages for business owners like you. It comes as no surprise, then, that HCSAs are gaining popularity as an alternative (or addition!) to conventional group health and dental plans. As a (…) [Read Full Article]
Posted in Employee Benefits, Healthcare Spending Accounts
Tags:ebook, employee benefits, health care spending accounts
The Four Pitfalls of Self-Managing Your Healthcare Spending Account
Some employers believe they can save money on administration by self-managing their healthcare spending account (HCSA) benefits plan. However, it’s important to know that self-administration often results in high costs, lost time, and other drawbacks. Before you determine whether to use a third party administrator or self-manage your plan, you (…) [Read Full Article]
The 3 Types of Healthcare Spending Account
A healthcare spending account (HCSA or HSA) 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 HCSAs allows the employer to set a fixed budget for available benefits, (…) [Read Full Article]
Posted in Employee Benefits, Flexible Benefits, Healthcare Spending Accounts
Tags:benefits plan, employee benefits, healthcare spending account
Important Changes from CRA that Advisors Need to Know
The Canada Revenue Agency (CRA) has replaced their former Interpretation Bulletins (IR) with Income Tax Folios. The former bulletin used by many providers (including The Benefits Trust) as a common reference for determining eligible and ineligible expenses for Health Care Spending Accounts and executive benefits plans was IT-519R2, Medical Expense (…) [Read Full Article]
Posted in Employee Benefits, Executive Benefits, Healthcare Spending Accounts
Tags:Canada Revenue, CRA, Income Tax Folios
Flexible Benefits: Hybrid Plan Design
Hybrid benefits plans are catching the interest of advisors and employers alike. After hosting four sold out seminar sessions about hybrid plan design, we can testify that these plans are gaining momentum as a viable alternative to both traditional benefits plans and Healthcare Spending Accounts (HCSAs). What are Hybrid Plans? (…) [Read Full Article]
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Posted in Employee Benefits, Healthcare Spending Accounts