Blogs & Articles

HSAs vs Traditional Group Benefits

HSAs vs Traditional Group Benefits

Every year, more and more employers are adopting Health Spending Accounts (HSAs) to their overall benefits package. The debate over which is better – HSAs vs traditional group benefits – is widespread. According to The Sanofi Healthcare Survey January 2020 HSAs are the single largest incentive for an employee to stay with an employer.  For that reason, an employer might look to add an HSA to their traditional group benefits package or replace the traditional plan altogether. 

HSAs for Your Company Size

HSAs for Your Company Size

Big or small, if you run a business in Canada, you need to understand and weigh the benefits of providing a Health Spending Account (HSA) to your employees. HSAs for all businesses are a secret weapon in employee benefits and perks that every Canadian business should understand – particularly the tax implications an HSA affords … Read more

Do Your Employees Know the Total Compensation You Provide?

Do Your Employees Know the Total Compensation You Provide?

(originally published March 2, 2021. Updated for content) Did you know that over 80% of the workforce doesn’t feel engaged at work? Studies have proven again and again that positive, engaged employees will stay with a company much longer than those whom are less engaged. Actively Engaged Employees Regularly Do More Than They Are Asked … Read more

Not all Spending Accounts are Created Equal

Not all Spending Accounts are Created Equal

We have written several blogs in this section of the HSA Easy Pay Ltd. website sharing details of how Spending Accounts fit into – or replace – your overall group benefit offering. We have detailed what an Health Spending Account HSA is. Why your employees are clamouring for Wellness Spending Accounts (WSAs). Methods of ensuring a successful roll-out of your spending account.  But, not all spending accounts are the … Read more

Six Lesser-Known Flexible Wellness Spending Account Options for Your Employees

Six Lesser-Known Flexible Wellness Spending Account Options for Your Employees

As an employer, do you provide a truly flexible wellness and health benefit as a perk of employment? Perhaps you activated a fully flexible health spending (HSA) and a wellness spending (WSA) account? While HSAs have CRA-regulated list of health related spend buckets, a WSA is structured to promote a much more flexible wellness expense array of lifestyle options for your employees.  You don’t have to force your employees to solely use … Read more

Your WSA Plan Should Be As Easy as 1-2-3

Your WSA Plan Should Be As Easy as 1-2-3

Providing a wellness spending account (WSA) for your employees demonstrates that you care as much about them at home as when they are at work. It provides each of your employees the flexibility and freedom to choose you they stay well – mentally and physically. A solid WSA Plan allows you to participate in your employees’ wellness by allocating taxable benefit … Read more

4 Ways to Get Your Employees Excited About Their HSA

4 Ways to Get Your Employees Excited About Their HSA

Your employees are your most valuable asset in your business. Give them a perk that is as adaptable and one-of-a-kind as they are, with a health spending account (HSA). An Employee HSA is a tax-free alternative to – or compliment to – a typical benefit plan. Your employees can feel valued and acknowledged when HSA benefits are included in their overall pay, and … Read more

6 Ways to Ensure Success in Providing an Health Spending Account

6 Ways to Ensure Success in Providing an Health Spending Account

It’s a competitive environment out there as businesses like yours are trying to find and retain employees. Are you considering the possibility of providing an HSA as a way to retain your incredible employees? It is no secret that your employees are your most valuable asset. You want to attract and retain the very best. One of the … Read more

8 Myths About Health Spendings Accounts

8 Myths About Health Spendings Accounts

In recent years, the number of HSAs has increased dramatically. Despite this increase, certain persisting myths about HSAs have caused some consumers to delay creating an account and thereby missing out on the benefits that HSAs offer.   Choosing a health plan for yourself and your employee base for the year is not an activity that should be … Read more

Top 8 FAQs About Health Spending Accounts

Top 8 FAQs About Health Spending Accounts

A health spending account or HSA is a tax-free alternative or supplement to a traditional benefit plan. An HSA covers a wide range of medical expenses while also giving employers and employees financial flexibility, in accordance with Canada Revenue Agency regulations.   Here is a list of the top eight frequently asked questions about health spending accounts. It includes information … Read more

What Millennials Want From Their Employee Benefits

What Millennials Want From Their Employee Benefits

Millennials, also known as Generation Y, are those individuals who are born between 1981 and 1996. Millennials are now considered to be the largest generation in Canada making up 27% of the overall population and are sought out to make up 50% of the workforce. Because Millennials make up roughly half of the workforce, it is important for companies … Read more

Flexible Health Benefits for Your Employees

Flexible Health Benefits for Your Employees

There is an employer health benefits shift occurring in Canada moving from traditional group benefits to the much more flexible health benefits that Health Spending Accounts (HSA) and Wellness Spending Accounts (WSA) provide. Both HSAs and WSAs are becoming much more popular in the Canadian workplace with inclusion as a supplement to existing traditional group … Read more

Why You Should Offer WSA Fitness Allowances To Help Reduce Employee Burnout

Why You Should Offer WSA Fitness Allowances To Help Reduce Employee Burnout

Today’s always-on attitude means our calendars are constantly filled with competing priorities. Our technology is buzzing and beeping alerts and notifications 24 hours a day. We’re carting the kids to their extra-curricular events while prepping for the next meeting. We’re wolfing down dinner as we answer messages on multiple devices. Meantime, healthy habits like managing … Read more

Why You Should Offer Your Employees a Wellness Spending Account

Why You Should Offer Your Employees a Wellness Spending Account

What is a Wellness Spending Account? A Wellness Spending Account (WSA) is an opportunity for employers to support their employee’s wellness through the allocation of benefit dollars (taxable) for non-medical, wellness expenses. A WSA account can be used as a perk given to your employees to promote healthier lifestyles. You can incentivize employees with eligible … Read more

Health Spending Accounts in Every Day Words

Health Spending Accounts in Every Day Words

As an employer, you want to ensure your employees understand and get the most benefit of all the compensation elements you provide them in your Total Compensation Package. It starts with salary, and pension opportunities, but also includes health benefits, flexible work spaces and time off. A Health Spending Account (HSA) benefit is just one … Read more

Top Five CRA-Eligible Expenses For Your Employees’ Health Spending Account

Top Five CRA-Eligible Expenses For Your Employees’ Health Spending Account

Health Spending Accounts (HSAs) and Wellness Savings Accounts (WSAs) are of the most versatile tools to provide health and wellness benefits for your business’ employees and for yourself. While following the guidelines set forth by the CRA, HSAs cover a litany of expenses including massage, vision, dental, health insurance fees, physiotherapy and prescriptions amongst many … Read more

Healthcare is stressful enough. Paying for it shouldn’t be.