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September 2020 Newsletter - Managing Tough Renewals

Hey Advisors, I feel for ya. We have been hearing that renewals right now are tough between dental COVID claims, pooling charges, and disability rates on the rise—all the while renewing during a...

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Hey Advisors, I feel for ya. We have been hearing that renewals right now are tough between dental COVID claims, pooling charges, and disability rates on the rise—all the while renewing during a pandemic. You have a hard job, and at a time like this, you show your immense value. We want to remind you to consider us when renewals are coming. If there is a need for cost containment but flexibility in any form, we can help. From HSAs to self-insuring vision, dental, health, or adding a WSA for COVID related expenses, there's something we can help with. myHSA Solutions

Webinar from Thursday, October 1 Introducing Trupanion Pet Insurance

Supporting the health and wellness for an important member of the family: Pets! myHSA is proud to announce a new partnership with Trupanion Pet Insurance—providing the best coverage for furry family members under one comprehensive plan.

Trupanion covers 90% of veterinary costs and no payout limits, offering the peace of mind to pay veterinarians directly. From diagnostic tests, medications, surgeries, supplements, mobility devices, dentistry, and more.

Trupanion coverage ensures complete focus on the pet, removing the worry about finances when something goes wrong.

Trupanion will be available in myMarketplace as well as a product in our Benefits Bucket for your clients.

Advisor FAQ — Stay in-the-know with our featured questions & answers

Question: How long do employees have to submit outstanding claims upon termination?

When terminating an employee, you have the option to set the termination date and duration of the termination grace period. The termination date determines the last eligible service date for claims moving forward.

The termination grace period is the number of days after the termination date that employees can submit outstanding claims dated before termination. The typical period is 30 days, but it can be set at any duration. The system will automatically delete the employees' access once the termination grace period elapses.

To terminate an employee, click the 'Employees' tab on your right menu, and click to edit the user. A 'Terminate' button is located at the bottom right of the screen.

Resources we love Check out what we've been reading lately

The State of Health Spending Accounts by Benefits by Design

EAP's show strong ROI by HRReporter.com

Most workers want virtual health care benefits for mental health by

HRReporter.com — Five workplace changes that should stay post-coronavirus

by Benefits Canada

Have you seen the Sanofi Canada Healthcare Survey?

86% of plan members agree that their health benefit plan is an important factor when deciding on a job offer

71% of plan members agree that the health benefit plan is a strong incentive for them to stay with their employer

51% of plan sponsors anticipate that HSAs will play a more significant role over the next five years, up from 36% in 2018

71% of plan members are willing to use virtual care technology to receive healthcare services

View the full survey here Click here to view all of our latest blog posts

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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.

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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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