Benaccount®

For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.

Benaccount®

For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.

Benaccount®

For businesses as small as three employees looking to cover catastrophic expenses that might otherwise leave employees at financial risk.

Benaccount® At a Glance

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 Provides:

Catastrophic Coverage

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:

  • 100% prescription drugs
  • Prosthetic appliances
  • Eligible medical equipment
  • Private duty nursing
  • Accidental dental
  • Hospital and emergency travel

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.

Stop-Light | Benaccount | Benefits by Design

Stop-loss Coverage

Benaccount’s catastrophic coverage includes a $10,000 stop-loss threshold to help keep plans sustainable.

Health Care Spending Account (HCSA)

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*:

  • Ambulance services
  • Specific cancer treatment
  • Dental services
  • Visioncare
  • Paramedical expenses
  • Heart monitoring devices

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.

Airplane | Deluxe Travel | Benefits by Design

Deluxe Travel Coverage

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.

Combine Benaccount with Benepac® Pooled Benefits

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.

Learn more

See how Benaccount® could work for you!

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