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May 2021 Advisor Newsletter

Why wellness programs need to be integrated with health insurance rather than treated as add-ons, plus a recap from myHSA's advisor feedback webinar.

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Wellness Programs Just Make Sense

Many people in the benefits world slough off wellness programs.

Why do wellness plans offered alongside health insurance need to be thought of together?

I recently listened to a podcast with the founder of the Vitality program, and CEO of Discovery out of South Africa. Adrian Gore is an actuary, entrepreneur, and acclaimed South African businessman. Adrian summed up the importance of integrating wellness perfectly.

Click here to read more

In case you missed it...

Have you ever used our live chat support? Other providers have chat bots, but no bots here! We have real humans answering all your questions! Read Danielle's first blog ever as she explains the benefits of our live chat system.

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Tim Kane is no technology expert - so how did he build a successful technology company?

Click here to read more Resources we love

Offering commuting perks part of post-pandemic planning for employers

Employee wellbeing programs good for business

Pandemic leads to "thoughtful, intentional DEI efforts"

How popular is the hybrid work model?

New Employee App Tutorial Advisor FAQ

Is a "lifestyle spending account" the same thing as a Wellness Spending Account (WSA)?

Yes! Whether a company offers a “Wellness Spending Account,” a “Personal Spending Account,” or a “Lifestyle Spending Account” these are all the same. The employer decides what taxable benefits the employee can make claims on.

My client does not want to add a WSA because of the administration of the program, is there a way to make it easy for them?

Many clients have run in-house wellness programs, that require a lot of work to administer. With myWSA, the client sets their eligible expense list, we adjudicate on their behalf, and take care of reimbursing employees! We also keep a running total of the taxable benefit they'll report on the T4! So easy!

Advisor Feedback Session Recap Click here to view the full recap

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Blog Highlights

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.

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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.

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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.

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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.

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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...

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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...

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