huumans has partnered with Aya to offer all our customers smart, industry-leading and cost-effective Health Spending Accounts (HSA) and Wellness Spending Accounts (WSA), designed specifically for Small Business owners and their employees.
Sign up for a huumans HSA by March 30th and enjoy a 10% discount in adjudication fees for the entirety of 2024. Enjoy an additional 5% discount for every business you refer!
Better for health
Supercharge your employees health
Health Spending Accounts (HSA) can enhance - or replace - traditional health benefits or insurance. A HSA is pretty simple, but can be very powerful - it's a money account that supports employees with any spending related to health, rather than a benefits or insurance plan with variable coverage and fees.
For employers it allows them to create fixed financial contributions and for employees it gives them the flexibility to spend those contributions at a health vendor of their choice just by using the typical point of sale / online checkout.
Better for businesses
Manage costs and gain taxable benefits
A HSA is a cost-effective means for any business to provide employees with a way to pay for health-related costs while providing a tax deduction for the employer. For Small Businesses, HSAs can help them manage cashflows, retain employees and reduce the complexity and financial unknowns associated with traditional health benefits or insurance plans.
The business benefits include:
They're a proven employee attraction and retention tool
They offer better cost control and customization – employers can assign classes of benefits with corresponding limits and payout percentages
Employer contributions are 100% tax-deductible
Any funds not used by employees can be returned to the employer or 'rolled over'
No increases in annual premiums
How it works
Simple and immediate
Once set up, your HSA is managed entirely by the employee using the Aya app. You can choose to set up your HSA as pay-as-you-go, where the employee uploads receipts of their health spending using the Aya app, or you can choose to use Aya's pre-paid credit card option, which prevents employees having to pay out of pocket and await reimbursement.
With either plan, employees and their dependents can immediately access a comprehensive range of health benefits, including Professional Health Services, Mental Health Services, Hospital Services, Dental Services, Vision Services and Drugs and Prescriptions.
Our dedicated team will discuss with you the various options, help you set up your account - and with huumans unlimited, free support - keep everything running smoothly.
A Health Spending Account (HSA) supports employees with their medical expenses relating directly to health, hence the name Health Spending Account. It gives employers and employees flexibility with how and where they want to spend their allotted health funds. Health spending accounts are tax-deductible to the employer, and not a taxable benefit to the employee.
Some commonly claimed expenses in an HSA include dental checkups, prescription drugs, physiotherapy, prescription glasses, laser eye surgery, fertility treatment, and a comprehensive list of other coverage. A full list of eligible expenses can be found on the CRA Website. View the full list here.
We believe that making smart health spending and saving choices should be affordable and easy, through a technology-forward provider that provides ease of use and advanced reporting at a competitive cost to the employer. Our partner Aya removes all of those pesky, hidden processes that most HSAs have. With Aya all you do is use our Card or take a photo of a receipt. Aya's adjudication technology reviews 100% of claims so employers no longer have to worry about fraud.
A Health Spending Account is a cost-effective means for a business to provide employees a way to pay for health-related costs while providing a tax deduction for the employer. These plans have seen a considerable increase in popularity over the past years in some cases replacing traditional health benefits entirely.
A Health Spending Account is established to exclusively pay for health care services for your employees and their families. It doesn’t include any mandatory coverage and can be used to pay for any and all health, vision and dental expenses including those not covered under traditional plans, such as laser eye surgery or fertility treatments.
Additional employee benefits include:
Offer employees flexibility and choice on what they want to use their HSA credits for
Offer employees a tax-free allowance
Cover expenses not eligible to be claimed under traditional benefit plans
Offer employees an active role in their health
Optional Aya HSA Credit Card – No more out of pocket expenses for employees. They can swipe their HSA card at their medical and drug providers POS systems
Access to Wellness Spending Accounts (WSA)
A full list of eligible expenses can be found on the CRA Website. View the full list here.
Your HSA is funded based on how you set up your application – monthly, quarterly or yearly. A predetermined amount will be withdrawn from your business bank account and held in trust. Your funds will be used to pay employee claims as they are incurred. The funds always belong to you and may be returned to you at no cost. You decide the contribution. We recommend you determine your monthly contribution by totaling the amount you plan to offer your employees and divide by 12.
Aya is a Canadian fintech company that focuses on simple payment technology to help mitigate rising healthcare costs.
Employees love HSA’s because they get to choose where they spend their allocated dollars. Using the Aya Card they never have to go out-of-pocket on medical expenses. It’s like having a bank account they can use for their medical, dental and vision expenses. An employer can also write off 100% of the costs related to it’s HSA and all expenses are tax-free to employees. In recent HR surveys, having an HSA is a reason why an employee chooses to stay with an employer.
No, you can choose benefit classes amongst your employees, and set allowance limits and percentages reimbursed by class.
No HR department, no problem! This HSA was designed with small-to-medium businesses in mind – we know what it’s like to wear multiple hats, and we’ve done our best to make the experience easy for anyone in your company to manage. If you need any help along the way, Huumans will assist.
If an employee leaves their group plan, they will be able to continue submitting medical, dental (if applicable) and claims for 30-90 days as determined by the administrator when setting up the company. This can be customized for your group during your set up. If funds are being deposited monthly, quarterly, or annually, the unreserved funds that the employee has available to use are pro-rated based on that employee’s termination date.
Yes, you can make up to 2 changes. This is customizable based on your application. At the end of your plan year you will again be able to make changes to your group’s medical plan.
At any health or wellness merchant worldwide. Tap to pay for medical expenses at doctor’s offices, pharmacies, dentist offices, vision care as well as many other modern treatments from a variety of expert practitioners.
The employer allocates a specific amount. Employees will be notified of the amount and then simply use your Aya Card to pay for eligible expenses up to your allotted allowance.
Yes!
An eligible employee of and any of their eligible dependents who are listed on the plan will be covered by the employer defined benefit limit.
