Coronavirus (COVID-19): Information and Links

Coronavirus (COVID-19): Information and Links

In response to the ongoing spread of the novel coronavirus (COVID-19) we have compiled some helpful links that provide information about the Government of Canada’s response to the virus as well as information provided by various insurance carriers. Information about the spread of COVID-19 in Canada can be found on the Government of Canada’s website…

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What is a Spending Account?

What is a Spending Account?

Have you heard any of the acronyms: HSA, PHSP, TSA, LSA, WSA, FSA (yikes)? Or the term "Health Spending Account"? In this article we'll explore what health related spending accounts are and the various types of spending accounts that exist. Employee spending accounts are becoming quite common as a means of supplementing existing employee benefits plans.…

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Eligible HSA Expenses List

Eligible HSA Expenses List

A Health Spending Account (HSA) is a group benefit that an employer can make available to its employees to cover eligible healthcare related expenses. Qualifying expenses are governed by the Canadian Income Tax Act. Need to know if an expense is covered? Checkout this handy table of eligible HSA expenses.…

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(Mis)perceptions of the State of Benefits Admin Technology

(Mis)perceptions of the State of Benefits Admin Technology

We live in interesting times when it comes to insurance technology (insurtech). According to cbinsights.com, in the United States alone, more than $2.56 billion has been invested in insurtech startups in 2018! Huge investments are being made in projects and programs to change an industry that has been traditionally dominated by manual processes and paper. Benefits administration in particular is one area in which tech investment is long overdue. Over the past few years the Canadian market…

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How Leading Benefits Administration Platforms can put You in Control of Your Data

How Leading Benefits Administration Platforms can put You in Control of Your Data

Administering employee group benefits plans directly with insurance carriers, or through many ben-admin modules in HRIS platforms, comes at a cost. Some obvious, like a lack of robust data compliance built into these systems, which results in liabilities in the way of plan member data errors. Some, less obvious but still significant, like: the lack of robust data retention.…

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How a TPA Increases Flexibility

How a TPA Increases Flexibility

In previous articles we covered various third party administrator (TPA) topics including: what a TPA is, and how some TPAs can lower the cost of administration. This article looks at how a TPA can streamline group benefits administration for your company while also giving your company the opportunity to offer best-in-class benefits to your employees. The most common way in which a TPA can increase flexibility is by offering a centralized, robust employee benefits administration system that…

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