What is myHSA?

  • It is a CRA approved method to provide medical, dental and vision benefits in a tax efficient manner. All expenses reimbursed are tax-free to the employees.
  • There is a wide range of services that include many items that are not typically allowed under a normal Group Benefits plan.
  • Various employee classes can be set up.
  • Flexible, fast reimbursement.
  • NO pre-funding required!
  • Who is able to qualify? An employer for their employees and/or a business owner(s). The employer must be incorporated/ltd.

With an easy to use, modern design, myHSA enables users to submit claims seamlessly with its free app. The service is available online as well as on the Google Play Store and Apple App Store. Simple to set up, employers will become plan administrators and take charge of the new Healthcare Spending Account.

For employers, here are a few reasons to consider myHSA:

  • Admins can add or terminate employees, see activity, and run real time reports.
  • Able to access and pull different reports for tax or accounting.
  • You will receive an emails for any withdrawal made.
  • You can run Bank Rec Reports which will show the transaction activity.
  • If an employee’s information needs to be edited, you can correct it.
  • It’s optional to leave some details to your employees: setting up family members and banking information.
  • myHSA can be a stand-alone plan or it can be a nice supplemental plan to your main group benefits.
  • And of course, we’ll help you at any time, that’s what we’re here for.

If you want to know more, and perhaps set one up, we’d be happy to talk with you! For an added bonus, there’s no set up fee!

Have a great day from the staff at Integrity Insurance and Financial Services!