PreTax Health HSA – Other Questions

PreTax Health works with National HealthClaim to combine our HSA with Group Insurance

Recently we have received some inquiries from new customers that are interested in combining our Health Spending Account (HSA) with some form of Group Insurance. While the PreTax Health HSA offers the best flexibility and features to address businesses routine health expenses, sometimes business owners wish to provide owners and employees with coverage for unplanned [...] Read More...

Should spouse and children be dependents or employees in our Health Spending Account?

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Private Healthcare – Is it the Right Choice and how can a Health Spending Account help?

This article discusses private health care options, how to obtain the right information, and the role of a Health Spending Account in covering private healthcare services. Wait times for elective procedures have increased drastically in the public health care system. As things stand now you may have to wait up to 19 weeks for elective […]

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What does an employer with a Health Spending Account do if an employee leaves the company?

Lauren asked us: “How long do employers leave the health spending account active for an employee who has stopped working for their company? According to the PHSP rules, it is a plan of insurance — the employer is effectively the insurer. Therefore technically (like with any other insurance) when the ‘insurance policy ends’ (i.e., the […]

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Differences between an HSA and a Health and Welfare Trust (HWT) like Benecaid?

In our FAQ we briefly discuss the difference between the PreTax Health HSA and Health and Welfare Trust such as Benecaid. The following are more details on the specific differences: First, we should note that the types of claims allowed by the CRA under a HWT and an HSA are identical. The similarities end there. […]

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Employees, or Owner-Employees are HSA eligible, not Shareholders

  Steve R. owns a small incorporated IT consulting company and he asked us if he is HSA eligible if he is currently the sole employee (and owner) and he has taken used both income  (T4) and dividends (T5) as a means of drawing out income from his company  (based on his accountant’s recommendations). Answer:  […]

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Health Spending Account Claim Information

Michele asked us what type of receipt information is required from claims from private health centers, or on other HSA claims from an employee of a company. Answer:  Our adjudicators normally look for 5 key pieces of information.  The health spending account claim information includes: Who is performing service – if this is a particular […]

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An HSA must use a 3rd Party to Process Claims

In your FAQ, you say that CRA requires that an HSA must use a 3rd party to process claims. Can you please tell me specifically where this guidance is found? Answer: PreTax Health Spending Account PHSP Canada Hi Carol. This flows from section 248(1) of the Income Tax Act and is also discussed in IT339R2: […]

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Health Spending Account Privacy Considerations and the Adjudication Process

Todd asks about Health Spending Account Privacy Considerations and the Adjudication Process: Todd: I was told by one provider I spoke to before you guys that they wanted employees to send their claims to our company admin person first, and that our admin person would then send the claims over to the them, as a […]

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