Flexing Your Company's Benefit Plan
January 31, 2025

Offering benefits is always appreciated by employees. In today’s economy, any assistance in looking after one’s health and well-being stands out as a major advantage for both current and potential employees. Benefits that cater to personal health needs can be especially valuable as they promote balance and self-care in a busy world.
A Flexible Spending Account (FSA) provides the best of both worlds. Employees can allocate funds to a Health Spending Account (HSA) to cover regular health needs such as dental care, vision, and extended health services like massage therapy, chiropractic care, or physiotherapy. At the same time, they can direct funds to a Wellness Spending Account (WSA) to support personal wellness choices, including self-care and work-life balance. This flexibility empowers employees to take control of their health, making it easier for them to meet their individual health goals and address specific concerns.
What Can Be Covered Under a Health Spending Account (HSA)?
Health Spending Accounts typically focus on everyday medical needs such as dental care, vision, pharmacy expenses, and other extended health services. If you need chiropractic care for back pain or a regular dental cleaning, this portion of the plan can cover those expenses. However, as the HSA must adhere to CRA guidelines for eligibility, our dedicated Claims Team reviews submissions to ensure they qualify for reimbursement.
Common items eligible under a typical HSA include:
- Dental Fillings
- Teeth Cleaning
- Dental Extractions
- Dental X-Rays
- Chiropractic Services
- Physiotherapy
- Acupuncture
- Massage Therapy
- Psychology
- Eye Exams
- Contact Lenses
- Glasses
What Can Be Covered Under a Wellness Spending Account (WSA)?
Wellness Spending Accounts differ significantly from Health Spending Accounts in terms of eligibility. The key difference is that a WSA doesn’t have to follow CRA guidelines, giving employees much more freedom to decide how to spend their funds based on their current needs. This can include anything that helps with personal well-being, fitness, or relaxation.
Common items eligible under a typical WSA include:
- Gym Memberships
- Fitness Equipment
- Fitness Apps
- Camping Gear
- Campsite Fees
- Electric Toothbrushes
- Waterpiks
- Juicers
- Bicycles and Accessories
- Hobby and General Interest Courses
What Are the Benefits of Offering an FSA to Your Employees?
Offering an FSA to your employees can have several positive impacts on your organization and your team:
- Empowerment: Giving employees control over their health and wellness spending
- Increased Productivity: Healthy employees are often more productive
- Reduced Absenteeism: Fewer health-related absences, as employees can take proactive steps toward well-being
- Happier Staff: Offering flexible benefits boosts overall job satisfaction
- Personalized Care: Acknowledges that each employee has unique needs and preferences
- Promotes Self-Care: Encourages staff to prioritize self-care and maintain a healthy work-life balance
Choosing to offer benefits such as a Health Spending Account, Wellness Spending Account, or a combination of both as a Flexible Spending Account is a big step for any company. It sends a clear message that you value your employees’ health and well-being, not just their work. Supporting their personal health journey fosters trust and demonstrates that you care for them beyond their professional role.
Did you know?
Quikcard offers add-on services that can boost your benefits package to the next level! We offer add-on services for Virtual Health Care, an Employee Assistance Program, as well as Group Travel Coverage (3+ employees required). These are great cost-efficient items to add to your benefits to cultivate additional support for your employees. Contact us today for more information on our Flexible Spending Account and Add-On services to create the best benefit package for you and your team!
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