What is an HWT (Health and Welfare Trust)?

Once again, some providers confuse the term Health Spending Account with a Health & Welfare Trust.

A Health & Welfare Trust is a different instrument entirely - it is a form of a ‘trust’ account. Actual money is paid into the trust account, often on a regular basis, and that money is then subject to a strict set of trust account rules established by the government.

A Health Services Plan does not need to operate as a Health & Welfare Trust to be considered a PHSP.