Benaccount®

Cost certainty for employers. Flexibility and choice for employees.

Benaccount®

Cost certainty for employers. Flexibility and choice for employees.

Benaccount®

Cost certainty for employers. Flexibility and choice for employees.

Benaccount® is ideal for:

Three industry professionals

Organizations with three or more full-time employees in any approved industry

Man with arm in a sling

Employers who want coverage that protects employees from catastrophic hardships

Piggy Bank

Employees who want to decide how and when they use their benefits

How it Works

Employees meet a deductible* for comprehensive coverage that protects them from financial hardship due to medical expenses. The deductible can be satisfied by eligible expenses including drug and unpredictable medical needs (like prescriptions and ambulance services). All other expenses (either ineligible or above and beyond) are covered by a Health Care Spending Account (HCSA).

*$1,000 deductible/person/calendar year – OR- $2,500 deductible/family unit/calendar year

For times when no medical emergency occurs, employees have their HCSA available to use for health, dental, or other eligible expense claims as outlined by the Canada Revenue Agency.

It Looks Like This:

A Benaccount® covered employee experiences an unexpected illness requiring an ambulance ride, hospital stay, and ongoing prescription drugs.

Employee pays for their ambulance ride, hospital stay and prescription drugs, totaling $1,200. This goes towards satisfying their deducible.**

**summarized example, options for meeting deductible and expenses that qualify are varied

The first $1,000 goes to satisfying the deductible, the remaining $200 would then be reimbursed by the Catastrophic benefit plan. Once the deductible is met remaining expenses (hospital stay, ongoing prescriptions up to $50K/year, any home medical equipment or private nursing) is covered.

The deductible then resets each calendar year.

Features

Catastrophic Component

  • $1,000 deductible/person/calendar year — OR — $2,500 deductible/family unit/calendar year
  • 100% of expenses for eligible extended health services once deductible has been met
  • 100% of emergency travel costs (no need to meet deductible first)
  • 100% eligible prescriptions, coverage is based on Mandatory Generic with Conditional Formulary to a max of $50,000/person/calendar year

HCSA Component

  • Canada Revenue Agency approved health and medical expenses like massage, vision care, dental
  • Funds allocated to employee by employer, and used at employee’s discretion, towards deductible or not
  • Quick turnaround for employee reimbursement through Green Shield Canada’s (GSC) plan member portal
  • Submit your claims electronically whenever you want, wherever you are, through GSC’s online plan member portal

See how Benaccount® could work for you!

Speak with your Advisor.
Don’t have an Advisor? Complete the form below and we’ll put you in touch.

  • This field is for validation purposes and should be left unchanged.