Health and Wellness Spending Accounts
Invest in your team’s well-being
A healthy workplace is a thriving workplace. With tailored Health and Wellness Spending Accounts, you can create a benefits package designed to ensure your employees feel supported and valued.
What is a Health Spending Account (HSA)?
A Health Spending Account (HSA) offers employees a fixed allowance to cover eligible medical expenses, offering flexible benefits that allow them to choose how they spend their funds.
What is a Wellness Spending Account (WSA)?
A Wellness Spending Account (WSA) is a flexible, employer-funded benefit designed to support employee well-being and satisfaction. These accounts allow employees to use allocated funds for wellness-related expenses, such as gym memberships, daycare, personal development courses, or fitness equipment. WSAs are considered a taxable benefit, giving employers the freedom to customize covered expenses while encouraging a healthy and balanced lifestyle for their team.
Build a benefits program that works for everyone
With Gifford Carr, you can support your employees’ diverse health and wellness needs through tailored solutions.
Health Spending Accounts
From prescription medications to dental treatments, ensure your team has access to the care they need without worrying about changing costs.
Wellness Spending Accounts
Help your employees take charge of their well-being and prevent future health issues. Wellness Spending Account funds may be used for exercise classes, wellness programs, and other health-related expenses.
HSA/WSA Package
Combine the benefits of HSAs and WSAs into one flexible benefits package. This dual approach helps to address immediate healthcare needs while promoting long-term wellness, creating a balanced and effective benefits package for your team.
Empower your team with benefits that matter.
In a world where one-size-fits-all no longer applies, offer your team health benefits that match their unique needs and lifestyles.
Frequently asked questions
Find answers to common questions about our health and wellness spending accounts.
Can I include both an HSA and a WSA in my employee benefits plan?
Yes, you can include an HSA, a WSA, or both in your employee benefits plan, depending on what works best for your company.
What expenses can be covered by HSAs?
HSAs can reimburse eligible medical expenses as defined by the Canada Revenue Agency, such as dental treatments, prescription medications, and vision care.
What expenses are covered by WSAs?
You can work with one of our advisors to select which costs to cover as part of the WSA.
Have more questions?
Contact us for more information.
Insights + Information
Get the latest tips from our experts
Grow Your Small Business with the Help of Digital Marketing
Working Capital: Understanding it’s role in Obtaining Construction Surety Bonds
Downtime Insurance: Understanding Coverage in Commercial Vehicle Policies
Explore our related services
Group Benefits
Invest in your team’s future
Explore how group benefits can further support your team.
Pension & Retirement Solutions
For a secure future
Help your employees plan for their future with our Pension & Retirement Solutions.