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“HSAs are a great way to learn benefits and a great way to approach companies to develop confidence. They’re low cost, simple administratively, and you can learn them quickly.”

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Insurance vs. ASO Plans: The Middle Market Sweet Spot

For groups that are too small for a traditional ASO plan but want more customization than a standard HSA, myASO offers a middle-market sweet spot worth knowing about.

Steve McEwan
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Fundamentally an HSA is a lot like an ASO . Both are self-funded and the items CRA allows under a HSA are typical in most insured plans… so both are basically self-funded health and dental plans.

The employer funds the plan and is responsible to fund all claims made. The feedback we've received over the years from advisors is that certain groups may not have been large enough for an insurer offered ASO plan but wanted to customize the HSA and add some limits and plans design that mimic an insured plan. That is what myASO does.

We went full in and built a way to do full customization for groups that are looking for a step up on the ability to customize an HSA. The myA

SO plans allows employers to customize plan amounts down to sub level category, add or exclude certain items, add a cap to certain item and pool the funds or set an individual limit per family member.

If you want to know more about myASO, we are offering a free webinar, open to the public.

Don't miss out, register today

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Other Insights

Expert insights on flexible benefits, employee retention, and CRA-compliant plans in Canada.

Research

myHSA opens up Dialogue for small groups

myHSA's new partnership with Dialogue brings virtual healthcare to small groups through the advisor channel — a model that's strategically aligned and mutually beneficial.

Steve McEwan
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Insights

What can you claim with a Health Spending Account?

Eligible HSA expenses are defined by the CRA and include a wide range of health, dental, and vision items — here's a plain-language breakdown of what's covered.

myHSA
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Insights

The Advantages of myFlexplan

myFlexplan combines the tax benefits of an HSA with the flexibility of a WSA, giving employees the power to choose benefits that fit their personal needs.

myHSA
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Insights

Using Health Spending Accounts for Specialized Education

HSAs can help cover the costs of specialized schooling, tutoring, and education for employees or dependents who are disabled or differently-abled.

myHSA
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Insights

5 Reasons Why Your Business Should Offer a WSA

Wellness Spending Accounts (WSAs), sometimes called Lifestyle Spending Accounts, Personal Spending Accounts, and countless others, are a top employee attraction and retention tool for businesses of...

myHSA
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Insights

5 Ways a WSA Can Help With DEI Initiatives

Diversity, Equity and Inclusion (DEI) initiatives are more important than ever for businesses of all sizes. A Wellness Spending Account (WSA) is one of the best ways to contribute to DEI...

myHSA
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