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This screen gives you the opportunity to assign any excess dollars should you have any.
HEALTH SPENDING ACCOUNT
Under a Health Spending Account, you have access to a pre-determined amount of Health Spending Account credits. These credits are intended to pay for medical and dental expenses not covered under your medical and dental plan or your provincial plan. Health Spending Account credits can also be used to supplement existing benefits. These include costs exceeding the plan’s maximum payable amounts, deductibles, co-insurance or any other portion of a claim that is not automatically paid. The amount in your Health Spending Account is not taxed as income except in Quebec where it is required to pay Quebec Provincial Income Tax.
ABOUT YOUR HEALTH SPENDING ACCOUNT
The policy year of your Health Spending Account is from January 1st to December 31st. Your Health Spending Account may be used to reimburse expenses incurred during the year. Credits are assigned January 1st each year and are valid for that calendar year plus one additional calendar year if any credits remain unused. If these credits are not exhausted, they will be forfeited. The Canada Revenue Agency does not allow the payout of unused balances in taxable cash as an alternate to the carry over requirement. Furthermore, should you leave your current employment, or your group terminates coverage with Medavie Blue Cross, you will have a period of 60 days to claim against your remaining balance before your credits are forfeited. Claims may not be carried forward, they must be reimbursed prior to the 60 day grace period following the end of the calendar year in which they were incurred.
Detailed information is provided in "Plan Details".
For further assistance with your decision please contact your benefits administration at benefits-helpdesk@websinc.ca or call 1-855-793-2704.
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