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For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.
For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.
For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.
Benaccount combines low-cost, high-deductible catastrophic coverage with a Health Care Spending Account (HCSA). This combination offers employees coverage for unpredictable medical expenses, such as prescription drugs or hospital and emergency travel, while also providing flexibility and choice through a HCSA.
Benaccount’s catastrophic coverage is a low-cost solution designed to cover employees’ unpredictable medical expenses that might otherwise leave them financially at risk. These could include, but are not limited to:
This catastrophic coverage includes a $1,000 deductible (Individual Coverage) or $2,000 deductible (Family Coverage), per person/family, per calendar year. Eligible expenses work towards satisfying the deductible, which must be satisfied before the plan begins to cover eligible expenses.
A Health Care Spending Account (HCSA) provides employees with a dollar amount to use towards eligible health expenses. HCSA’s are regulated by the Canada Revenue Agency (CRA), who determine what expenses are eligible. Here are some common uses*:
Employers design the HCSA by allocating funds to each employee, and will be able to set the frequency of allocation (monthly, quarterly, semi-annually or annually).
*This list is not complete. A full list of eligible expenses is available on the CRA website.
Benaccount’s Deluxe Travel provides a maximum of 60 days coverage per trip for certain emergency services when travelling in or outside of Canada, not including the Insured’s home province. Emergency services are for sudden, unexpected occurrence (disease or injury) that requires immediate medical attention.
Employers can combine Benaccount’s unique catastrophic coverage with Benepac® pooled benefits such as Life Insurance, Short- and Long-Term Disability Insurance, Critical Illness Insurance, and more.
Speak with your Advisor.
Don’t have an Advisor? Complete the form below and we’ll put you in touch.