Mardocs Benefits - Spending Accounts
Health Care Spending Account (HCSA)
Mardocs members are entitled to a $100 Health Care Spending Account (HCSA) for each resident year.
At the beginning of each policy year on July 1, you will receive a credit of $100 in your Healthcare Spending Account that you can claim towards your eligible medical expenses or those of your eligible dependents. The HCSA can be used to “top-up” the unpaid portion of your Health and Dental claims, or to reimburse you for any other medical expense that is included on the Canada Revenue Agency’s list of eligible medical expenses. At the end of the year (June 30), any unused balance is forfeited.
Examples of what is covered:
- Prescription drug co-pays
- Dental co-pays
- Unpaid balance of Vision claims
- Paramedical claims after plan maximum has been reached
- Medical expenses approved by the CRA for the Medical Expense Tax Credit
Examples of what is not covered:
- Over the counter drugs
- Gym memberships
- Fitness Equipment
- Daycare/day camp costs
- Gym shoes
Wellness Taxable Spending Account (WTSA)
The $250 Wellness Taxable Spending Account (WTSA) is for any out of pocket wellness expenses you have, with the program running in line with the resident year (July 1 - June 30). These expenses can be submitted to your WTSA. Amounts claimed under a WTSA are deemed taxable income.
You, your spouse and your dependents are covered by the WTSA. Whether you have single or family coverage, you will receive $250 per policy year in your WTSA.
The WTSA works in a similar manner as your HCSA except the amount and expenses you can claim are different. You will receive $250 in your WTSA at the beginning of each policy year (July 1). If you do not use this balance by the end of the policy year (June 30), it will be forfeited.
Examples of what is covered:
- Over the counter drugs
- Gym memberships
- Fitness Equipment
- Daycare/day camp costs
- Gym shoes
Examples of what is not covered*:
- Prescription drug co-pays
- Dental co-pays
- Unpaid balance of Vision claims
- Paramedical claims after plan maximum has been reached
- Medical expenses approved by the CRA for the Medical Expense Tax Credit
* Note: The above expenses would be covered under your $100 Healthcare Spending Account
CLICK HERE for a Taxable Spending Account claim form.
If you have any further questions about your spending accounts, contact Leanne Bryan, Mardocs Manager of Health and Wellness, at Leanne@mardocs.ca
