Health Care Spending Account (HCSA. The Health Care Spending Account (HCSA) can be used to pay for employee and/or eligible spouse’s/dependents’ qualifying medical and dental expenses under the Income Tax Act (Canada), incurred after the deposit date, that are not covered or are only partially covered by the University’s group benefits plan. • Taxable Wellness Spending Account (TWSA) Supports health and wellness for employees only (i.e. spouses/dependents are not eligible). This account can be used to pay for items including, but not limited to: fitness club membership fees, fitness or sporting equipment, personal training sessions, nutritional counselling, weight loss programs, smoking cessation programs, legal and/or financial advice. Wellness spending account reimbursements are taxable benefits and will be reported on annual T4 statements of the employee.
Health Care Spending Account (HCSA. 19.8.5.1 Employees who are covered by the SIAST Extended Health Plan with Great West Life may allocate funds to a HCSA.
Health Care Spending Account (HCSA. The Health Care Spending Account (HCSA) can be used to pay for employee and/or eligible spouse’s/dependents’ qualifying medical and dental expenses under the Income Tax Act (Canada), that are not covered or are only partially covered by the University’s group benefits plan.
Health Care Spending Account (HCSA. A Health Care Spending Account (HCSA) is a group benefit that provides reimbursement for a wide range of health-related expenses, beyond the coverage of the regular benefit plan. The account can be used to cover expenses incurred by you and any dependents who qualify. HCSA's are administered in accordance with Canada Revenue Agency guidelines and as such, the guidelines will be used to administer the plan. Examples of eligible expenses: • Any coinsurance payments and amounts in excess of coverage limits under the Extended Health Care (EHC) and Dental Plans • Vision care expenses such as eye examinations, glasses, contact lenses in excess of the existing benefit • Paramedical practitioners including chiropractors, acupuncturists, optometrists, physiotherapists, and psychologists in excess of EHC plan coverage • Massage therapist services In accordance with Canada Revenue Agency’s guidelines, Local 955 HCSA will be a “balance carry forward plan”. If a member’s annual claims do not exceed their HCSA allocation for the current plan year, the remaining credit balance is carried forward to the next plan year. The credit balance for the second year is the carried forward amount in addition to the new second year HCSA allocation. If the credit amount carried forward is not used by the end of the next plan year, this amount is forfeited.
Health Care Spending Account (HCSA. Annual Contribution Elections Minimum annual contribution $250 Maximum annual contribution $2,500 CB. The Health Care Spending Accounts are pre-tax benefit plans. Contributions are deducted from participating employees’ paychecks before taxes are taken out. The Health Care Spending Accounts are subject to rules and regulations set forth by the Internal Revenue Service. The maximum annual contribution for the Health Care Spending Account may be reduced or eliminated as provided for in Section 12.17.
Health Care Spending Account (HCSA. 3007 An employee can participate in the Health Care Spending Account (HCSA), which is entirely voluntary and allows employees to pay for eligible medical care services with pre-tax dollars. 3008 The future of the Plan and its provisions will be determined by Xxxxxx Foundation Health Plan, Inc. 3009 An employee who is regularly scheduled to work twenty (20) hours or more per week is eligible to participate in the HCSA, effective on date of hire. The HCSA allows employees to contribute pre-tax dollars annually as limited by the plan or IRC as applicable. This plan may pay for eligible health care expenses for an employee and/or his/her eligible dependents, as permitted by the IRC and as governed by law.
Health Care Spending Account (HCSA. Effective January 1, 2023, provide an annual “Post 65 HCSA” of $3,250.00 for retirees between the ages of 65 and 75 who retire on or after January 1, 2023, with the following conditions: o The HCSA will be applicable to the eligible retired employees and spouses only to a combined maximum of $3,250.00 per year. o Those eligible for the HCSA must be qualified to receive an unreduced pension at the time of retirement in accordance with the terms established by XXXXX and thereafter be in receipt on an unreduced pension. o Claims for reimbursement must be made first through the Ontario Health Insurance Plan (OHIP), the Ontario Drug Plan (ODP) or other public or provincial insurance as may be applicable. Reimbursement will be provided for medical or dental expenses to the extent that these expenses exceed coverage available from OHIP, ODP or other applicable public insurance plan and are permitted by the Canada Revenue Agency (CRA). o The HCSA will be non-cumulative. There is no redeemable cash value. In the event that the eligible retired employee (and spouse when applicable) does not exhaust the maximum entitlement for the year, the balance cannot be carried over to the next year. o There are no survivor benefits.
Health Care Spending Account (HCSA. 9.15.c (a) Retired Members will be eligible for an individual Health CareSpending Account (H.C.S.A.).
