What is a Health Care Spending Account?
> You choose the amount you want to spend for each employee's benefits
> The employee chooses what expenses he wishes to use the benefit funds for
> There is an extensive number of expenses allowed by the CRA
> Once an employee has reached the limit you set for the employees they have no
more benefits until the value is reset the next year
> Dollar values not used by an employee at year end can be carried over to next year
> These plans are usually managed by a 3rd party company. They charge a service
provider fee and there is GST on this fee.