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October 2021 Advisor Newsletter

Health Spending Account vs Wellness Spending Account — the two core products at myHSA explained, plus what's inside this month's advisor newsletter.

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HSA & WSA — Health Spending Account and Wellness Spending Account. That’s it. We can combine them, dissect them, and define them but at the end of the day, these two plans are the core of our business.

myHSA is a Health Spending Account, as the name implies it is specifically for medical expense items. The eligible expense list is defined by the Canada Revenue Agency and includes things like prescription glasses, physiotherapy, orthodontics and much more.

Click here to read more

In case you missed it...

Did COVID-19 create a hiring crunch?

Yes. From what we're seeing, COVID has impacted our entire lives, so it makes sense that hiring and recruiting will be affected, too.

Click here to read more Canadian Culture Index

We are so proud of our team for earning the ranking of one of Canada's Top Workplace Culture Innovators! Creating and cultivating a positive environment for staff to feel welcome and valued has always been a driver of success for our organization. As we continue to innovate and grow as a business, we keep the wellbeing of our team as a top priority.

Upcoming Webinar: Substance Use isn't Easy to Spot

October 19, 2021 — Join in to learn how to take the first step so employees can get the help they need.

Click here to register Spooky Spending Accounts - HSA vs WSA

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New study calling on permanent reforms to Canada's sickness, caregiving needs

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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.

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.

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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.

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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...

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