Health & Wellness Spending Accounts

We take a forward-looking approach to benefit plan design and claims funding. By using insurer-backed self-insurance, you can significantly reduce the cost of your plan. We also provide an optional HSA (Health Spending Account)/WSA (Wellness Spending Account) that can be accessed with both a web-application and mobile phone applications (iOS and Android), and can be added to any plan, for a company of any size. We have over 70 years of combined industry experience, which includes many years on both the insurer and broker sides of the industry.


We Provide Expertise, Recommendations, and Ongoing Service & Support
Health & Wellness Spending Accounts - Edmonton & area
780-705-7800
Employee Benefits Advisory
Edmonton Office
#200 - 6904 Roper Rd NW
Are we the best employee benefit brokers in Edmonton?
Our clients think so, and we think you will too.
Please contact us to arrange a no-risk, no obligation employee benefit plan review.


We Negotiate to help support the Long-Term Success of Your Business

When you employ an experienced group benefits specialist advisory, you know you're getting consistently fair & reasonable rates year-after-year. Often non-specialist brokers or insurance company agents will secure 'low-ball' rates for a prospective client thinking they're saving them money for the long term, but this is simply a tactic insurance companies use to initially acquire business as they know it's a hassle for a company to change insurers every one or 2 years; they offer low rates for the first year, then over the next renewals, 'jack-up' the prices to recover their initial quote driven investments. Be aware as well that generally group insurance companies will not quote on the same company plan more than once every 3-4 years as they know they will never retain a 'transient plan' long enough to get it into a profitable position. Experienced employee benefit specialists understand this, and will consistently negotiate fair rates for your company year-after-year.

Experienced Employee Benefit Specialists

The employee benefits insurance industry has become very specialized over the years. Generally, each benefit policy has five or more benefit coverage categories and group benefit insurance companies use their own metrics to come up with their own cost structure for each of them. With changes in legislation, the introduction of new technology, the need for benefit plan related liability protection, and ongoing changes in benefit plan taxation, it's easy to see how complex employee benefits can get. This is why it's important to have an employee benefit specialist on your side. Company's often come to us for a benefit plan review and it's very easy to tell whether or not the advisor who helped design their plan is an employee benefit specialist. There are many generalist insurance or financial planner type agents who choose to make employee benefit insurance plan support a secondary offering, but employee benefit insurance tends to be the most complex type of the 3 primary areas of insurance that individuals &/or families have i.e. life insurance, employee benefit plan insurance and general insurance (home & auto).

Because of this, It's important to enlist an employee benefit specialist advisory to help you with your ongoing employee benefit plan needs. We often hear of companies who think they can save money by going to the insurance company direct to request a plan quotation, but the reality is, you will always be referred to either an internal direct sales employee or an agent of the insurance company. And, unless the internal direct sales employee or agent has a strong understanding of employee benefits and also works with many group insurers like a broker does, they will not be able to provide you with the same quality plan comparison of all relevant group benefit insurance markets as a benefits specialist broker can. In the end, you generally end up paying for an inferior plan and receive deficient service & support than what you could have received if you'd dealt with a specialist. All for the same cost that is included in the same quoted rates.

Why You Should Consider Health & Wellness Spending Accounts

As a responsible and forward thinking business, you're always looking for ways to help retain good employees and attract new ones; health and wellness spending accounts are a great tool to aid you in doing so. You may already have a Health Spending Account (HSA), also known as a Health Care Spending Account (HCSA), as they have been around for many decades as an enhancement to a core benefit plan, but the more flexible Wellness Spending Account (WSA) is relatively new. The WSA came about as a result of an increased awareness of the value & importance of health, fitness and general well-being has become in peoples lives. More and more research is showing how important it is to take a holistic and preventative proactive approach to your health & well being, but the standard HSA doesn't cover wellness related products like gym memberships, workout equipment, sports memberships, supplements, recreational sporting equipment etc. Instead, these taxable (to the employee only) products & services are only covered under a WSA. With QubeFlex 2.0 in conjunction with the 'revolutionary' myHSA software program, your employees can choose where to allocate their credits (dollars), so they can also use them towards health and wellness products that work best for them and their family (if applicable). QubeFlex 2.0 with myHSA uses a user friendly web and mobile application to make using your HSA and WSA simple and convenient.

How We Administer Health & Wellness Spending Accounts

QubeFlex 2.0 w myHSA, employers simply determine the employee class structure they want to setup and how many credits (dollars) per class they'd like to allocate to each class; for example, single employees might receive 400 credits (dollars) over & above their core benefit plan, while family based employees might receive 900 credits (dollars). At the beginning of each plan year, using a simple and intuitive web or mobile application, employees decide where to allocate their credits (dollars). An employee's allocations cannot be changed within the plan year unless there is a ‘life changing status change’; this CRA guideline provides an element of 'insurance risk' so claims + expenses to process them can be treated preferentially for the company from a tax savings perspective.

There is also a specific list of non-taxable HSA eligible claim categories on the CRA website

Why QubeFlex 2.0 with myHSA

Health and Wellness spending accounts are offered by most traditional group insurers but many have group size restrictions before they’ll allow them to be added to a traditional insured benefit plan, particularly the wellness spending account option. Depending on the insurer, the restrictions can be 25 or 50 life employee groups+, and insurers generally, due to system or adjudication resource limitations, tend not to be as flexible on the variety & type of HSA and WSA claims that can be submitted even though all are eligible under the applicable CRA guidelines. This is why we use QubeFlex 2.0 with myHSA as our primary Health and Wellness Spending Account option: QubeFlex 2.0 with myHSA can be added to ANY benefit plan.


Frequently Asked Questions

Does a business need to have a traditional core insurance plan in place in order to set-up a Health & Wellness spending account?
For a traditional group insurers' spending account, yes; for QubeFlex 2.0 with myHSA, NO.

Are all claims under Health & Wellness plans tax deductible for the employer?
Currently in Alberta, yes; however, wellness claims are a taxable benefit to the employee and must be declared as such on their annual T-4’s.


We Provide Expertise, Recommendations, and Ongoing Service & Support
Health & Wellness Spending Accounts - Edmonton & area
780-705-7800
Employee Benefits Advisory
Edmonton Office
#200 - 6904 Roper Rd NW
Are we the best employee benefits advisory in Edmonton & area?
Our clients think so, and we think you will too.
Please contact us to arrange a no-risk, no obligation employee benefit plan review.