Group Insurance and Health Care Spending Accounts

Posted on November 9, 2009 and updated November 2, 2010 in Life Insurance Canada News 1 min read

Health Care Spending Accounts (HCSA) are an affordable way to help employers give their employees the health care services they need without incurring any additional out-of-pocket expenses.

HCSAs can create flexibility and minimize cost increases of employee benefit plans. The employer contributes a predetermined amount of funds into the HCSA for each eligible employee. These funds are then used to pay for health expenses outside their employee group benefit plan or the traditional provincial health plan.

(Group Insurance and Health Care Spending Accounts continued…)