Common use of Health Spending Account (HSA Clause in Contracts

Health Spending Account (HSA. The Employer shall maintain the current Health Spending Account for permanent full and part-time employees and the current eligibility requirements subject to the following parameters: • The current maximum claim benefit shall be increased from eight hundred fifty dollars ($850)/year to nine hundred and fifty dollars ($950)/year per full-time employee and from four hundred and twenty five dollars ($425)/year to five hundred and seventy dollars ($570)/year per part-time employee. • There is no carryover of HSA dollars from one year to the next, but an employee can carry forward claims for up to one year. i.e. a full-time employee had $150 in claims in the first year. The employee can claim the $120 and carry forward the additional $30 in claims for up to one year. • Employees can apply for reimbursement once claims total $100 (i.e. the "trigger point"). • Reimbursement for claims is once every two months. • An employee must file a claim. • Employees to receive annual statements. • The plan shall use Revenue Canada's definition of dependent (i.e. an employee can pay HSA eligible expenses for anyone for whom they can claim a tax deduction). • Plan coverage and administration is to be determined by the Employer.

Health Spending Account (HSA. The Employer shall maintain the current Health Spending Account for permanent full and part-time employees and the current eligibility requirements subject to the following parameters: • The current maximum claim benefit shall be increased from seven hundred dollars ($700)/per year to eight hundred fifty dollars ($850)/year to nine hundred and fifty dollars ($950)/year per full-time employee and from three hundred fifty dollars ($350)/year to four hundred and twenty five dollars ($425)/year to five hundred and seventy dollars ($570)/year per part-time employee. • There is no carryover of HSA dollars from one year to the next, but an employee can carry forward claims for up to one year. i.e. a full-time employee had $150 in claims in the first year. The employee can claim the $120 and carry forward the additional $30 in claims for up to one year. • Employees can apply for reimbursement once claims total $100 (i.e. the "trigger point"). • Reimbursement for claims is once every two months. • An employee must file a claim. • Employees to receive annual statements. • The plan shall use Revenue Canada's definition of dependent (i.e. an employee can pay HSA eligible expenses for anyone for whom they can claim a tax deduction). • Plan coverage and administration is to be determined by the Employer.