Health Spending Account (HSA)
Available from RWAM
Health Spending Account
HSA Options from RWAM
We understand that some clients are looking for flexible options to manage costs while still offering a comprehensive benefit solution, all managed by an impartial third-party.
RWAM offers our Health Spending Account (HSA) as a non-taxable, flexible option that allows your clients to determine the annual amount by capping the number of benefit dollars available each policy year.
Stand-Alone
Plan Members receive a RWAM OneCard which enables real-time claims submission at the pharmacy, dentist or practitioner’s office.
Plan Members can also submit claims for reimbursement. Stand-Alone HSA plans can include additional benefits such as Life Insurance, Accidental Death and Dismemberment, Critical Illness, Short and/or Long Term Disability, Out of Canada, Employee Assistance Plan and Medical Second Opinion Services.
Top-Up
Top-Up HSA plans are used in combination with core health/drugs and/or dental coverage. This type of plan allows employers to customize their insured benefits for Extended Health Care and Dental. The Top-Up HSA covers balances and any eligible expenses* not covered through the core plan.
* As defined by CRA’s guideline of Eligible Medical Expenses
Questions?
If you have questions or need clarification on coverage options, reach out to your RWAM Account Executive.
1.877.888.7926
What is HSA?
A Health Spending Account is an individual account with a fixed dollar amount provided to plan members and their dependents that can be used to reimburse expenses not covered under their group benefits but designated as covered under their HSA policy.
HSA’s are tax-free* and an effective way to attract and retain top talent through a more robust policy offering that would not typically be available in a traditional plan.
Note: *excluding Quebec