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CPP payment dates in 2025, and more to know about the Canada Pension Plan Apr 2nd
In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »
Canadian Dental Care Plan news: Coverage expanding on May 1 Apr 26th
How to apply for the Canadian Dental Care Plan
Starting on May 1, the Canadian Dental Care Plan (CDCP)—a federal program designed to make dental care more affordable for those Canadians without access to dental insurance—will be open to more age groups.
Here’s when you can apply fo.... More »
Understanding Health Care Spending Accounts (HCSAs)
– life-insurance-quotes.ca
In Canada, Health Care Spending Accounts (HCSAs) have become a popular benefit offered by many employers. These accounts offer employees a flexible, tax-efficient way to manage health-related expenses such as dental, prescription drug and paramedical costs.
Let’s discuss what HCSAs are, how they work, and why they are a great addition to group benefit plans.
What is a Health Care Spending Account?
An HCSA is an employer-funded account that reimburses employees for eligible health and dental expenses that are not covered by either their provincial health insurance or private group benefit plans.
These HCSAs offer a high degree of flexibility and control over how health care money is spent, and are especially useful when it comes to covering expenses that are not 100% covered.
How Do Health Care Spending Accounts Work?
HCSA accounts are actually very simple. Each employee gets a pre-determined amount of money on an annual basis which can be spent on a wide range of eligible expenses, such as:
Prescription drugs
Dental care (e…
