Health Spending Accounts
A health spending account (HSA) is a group benefit that provides reimbursement for a wide range of health-related expenses, over and above regular benefit plans. HSAs are administered in accordance with Canada Revenue Agency guidelines.
You can claim any item or service allowed under the Income Tax Act of Canada as a medical expense. Your HSA is available for unpaid balances or expenses not covered under your other benefit plans (including government plans, your group benefits plan and, if applicable, your spouse's group benefits plans). The list includes vision care expenses (glasses, contact lenses, and laser eye surgery), prescription drug expenses commonly excluded on extended health care plans (fertility drugs, erectile dysfunction drugs), paramedical practitioners (psychologists, optometrists, acupuncturists), adult orthodontics (dental braces). Balances not reimbursed on your dental or extended health care plans, such as deductible amounts and coinsurance, are also eligible.