Maximize Your Health Spending Account Benefits While Traveling Abroad
Did you know your Health Spending Account (HSA) covers services even when you're abroad? Whether travelling for business or taking that...
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The Wiser Advisor Blog
Employee benefits & industry related stories, ideas, and feedback for advisors.
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myHSA
May 301 min read
Maximizing Your Healthcare with HSAs: Ozempic and Semaglutides for Weight Loss
Health Spending Accounts (HSAs) offer a straightforward and flexible way to manage healthcare expenses, providing an ideal solution for...
myHSA
Apr 221 min read
What is a "Letter of Medical Necessity"?
Learn why you might need to provide a Letter of Medical Necessity to accompany your Health Spending Account claim
myHSA
Mar 152 min read
Backdating Backup
Can you buy critical illness insurance after you’ve been diagnosed with an illness? Can you buy home insurance after a house fire? Can...
myHSA
Jan 232 min read
What is the Element of Risk?
The CRA guidelines for HSA's indicate that an HSA must act like a plan of insurance, and like insurance, there must exist an "Element of...
myHSA
Jan 93 min read
Different Types of Reports
Reports serve as a vital tool, providing essential insights for both advisors and plan administrators. They aid in comprehending plan...
myHSA
Jan 81 min read
Reporting Dental Benefits
Important info for companies offering dental coverage through myHSA! Attention to all employers providing dental benefits: When reporting...
myHSA
Dec 19, 20231 min read
For Plans that Renew January 1, 2024
January 1 annual plan renewals will occur with the following balance adjustments: 1. Employees with Credit Carryover: - Unused 2023...
myHSA
Nov 7, 20232 min read
How to Get Your Claims Reimbursed
Nothing is more annoying than jumping through hoops to get reimbursement after paying out-of-pocket for an expense. We at myHSA want our...
myHSA
Sep 11, 20233 min read
Understanding the Difference Between Utilization and Bank Rec Reports
In the realm of managing employee benefits, it's crucial for businesses to stay informed about the utilization of their benefits plans...
myHSA
Apr 18, 20232 min read
Defining Dependents
Our live chat (yes, we have real myHSA employees answering every single live chat question!) team wanted to help clear up what the...
Steve McEwan
Mar 14, 20233 min read
Clearing up the 10% Rule
We want to talk about the 10% rule and why it is confusing and made things worse - not better. A few years ago, CRA made an update to...
Steve McEwan
Feb 13, 20235 min read
Shareholders and the Element of Risk
Can shareholders have an HSA? There’s a lot of noise around this, I think it’s time we clarify our thoughts. First, a disclaimer – we...
Steve McEwan
Jan 17, 20233 min read
Why we hate METC calculators for HSAs
Many times, we run into a scenario where a business owner is assessing whether to use an HSA or the Medical Expense Tax Credit (METC). If...
Tim Kane
Aug 17, 20223 min read
HSA's for Sole Employees
We recently received the question "are PHSP's/HSA's suitable for a sole employee, who is also a shareholder?" An advisor sent us this...
Tim Kane
Feb 7, 20225 min read
What is up with Cost Plus?
Ever since I have been in this industry, I have always been asked “what is up with Cost Plus?” They are attached to almost every...
myHSA
Dec 21, 20211 min read
Balances Explained
Carryover? Reserve? Grace Period? Movement of Balance? Have no fear. Take a look at our handy infographic below for a complete and easy...
Tim Kane
Oct 18, 20213 min read
HSA vs. WSA
Health Spending Account and Wellness Spending Account. That’s it. We can combine them, dissect them, and define them but at the end of...
myHSA
Nov 12, 20201 min read
METC vs. HSA
Should you claim your medical expense using the Medical Expense Tax Credit, or under your Health Spending Account? Let's crunch some...
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