As the new year unfolds, it’s a tradition for many to reflect on the past year and set intentions for positive change. Whether it’s breaking old habits or pursuing long-contemplated goals, having additional support like MyFlexplan Options can make a significant difference in turning these aspirations into reality. MyFlexplan, an innovative blend of Health Spending Accounts (HSAs) and Wellness Spending […]

The Risk of Going It Alone: Relying solely on your understanding of insurance in your benefits strategy is risky. The stakes are high – your company’s capacity to attract, hire, and retain quality staff hinges on these decisions. The potential for disastrous outcomes due to uninformed choices is too significant to ignore. In conclusion, while it might seem tempting to […]

In the contemporary business world, Wellness Spending Accounts (WSAs)—also recognized by various monikers like Lifestyle or Personal Spending Accounts—have emerged as a paramount tool for not only attracting but also retaining employees across businesses, irrespective of their size. WSAs serve as a taxable benefit, presenting employees with supplementary funds for health and wellness expenses that find no coverage under conventional […]

Consider health coverage like an even spread of peanut butter, ensuring every claim, like every bite, is thoroughly covered. To make sure you and your loved ones obtain the most out of your healthcare, it’s pivotal to make the most of every available tool. This article illuminates how employees can adeptly intertwine their insurance with a Health Spending Account (HSA). […]

Wondering what exactly can be claimed under a Health Spending Account (HSA)? This query is a frequent visitor in our inbox, and we’re here to dispel the clouds of confusion surrounding it! The Canada Revenue Agency is the guiding star here, defining what constitutes an eligible item, and you’ll be pleased to know the spectrum of claimable items is notably […]

Business owners, understanding the labyrinth of Health Spending Accounts (HSAs), Wellness Spending Accounts (WSAs), and Flexible Spending Accounts might seem daunting at first, but it’s crucial in order to optimize the wellbeing of your team. Dive into this simplified guide to comprehend these terms and make informed decisions that can uplift the health and morale of your employees. Health Spending […]

The subtle yet unyielding force of inflation never neglects traditional benefits. But how often is it being conscientiously applied to spending accounts within your purview? Simply put, spending accounts denote a fixed dollar allowance reserved for employees to manage eligible expenses. When the cost of these expenses swells, courtesy of inflation, the purchasing power of this allowance inevitably shrinks. The […]

As an incorporated business owner, your health is paramount to your business’s success. Investing in personal well-being, like regular massages to relieve work stress, is a smart move, but it can get costly. If you’re spending about $5k per year on such health expenses, with taxes and other factors considered, the real cost can be as high as $8k. Seems […]