Expand your benefits strategy with Health Spending Accounts and Personal Wellness Accounts
Today’s employees are looking for benefits that feel flexible, practical and personalized. As organizations compete for talent and focus on employee well-being, traditional benefits plans alone may not address every need.
That’s where Health Spending Accounts (HSAs) and Personal Wellness Accounts (PWAs) can help. These flexible solutions allow you to provide clients with greater choice for their employees while helping them maintain control over benefits costs.
Health Spending Accounts: flexibility meets cost control
A Saskatchewan Blue Cross Health Spending Account gives employees additional support for eligible health and dental expenses that may not be fully covered through their group benefits plan or government programs.
An HSA can help cover:
- Co-insurance and deductibles
- Expenses that exceed plan maximums
- Eligible health and dental services not covered under the core plan
For employers, HSAs provide predictable costs through a defined annual allocation. For employees, they offer greater flexibility in how benefit dollars are used.
Why you should consider recommending an HSA
Add value without increasing core plan costs
HSAs allow clients to enhance their benefits offering without making significant changes to their core plan design.
Offer tax-effective compensation
Employer contributions are made with pre-tax dollars, and eligible claims reimbursed through an HSA are non-taxable to employees.
Increase employee engagement
Employees can use their HSA funds for expenses that are most relevant to their individual health and dental needs, creating a more personalized benefits experience.
Simplify administration
Claims can be submitted quickly and easily through the Saskatchewan Blue Cross Member App and Member Portal, making the experience seamless for employees.
Personal Wellness Accounts: supporting the whole person
Employees increasingly view wellness as more than physical health. Financial well-being, mental health, professional development and work-life balance all play an important role.
A Personal Wellness Account allows employers to support these broader aspects of wellness in a flexible and meaningful way.
With a PWA, employers set an annual funding amount and select the wellness categories that align with their organization’s goals, culture and workforce needs.
Eligible categories can include:
- Fitness, recreation and wellness services
- Mental health support
- Financial planning services
- Professional development opportunities
- Family care expenses
- Home office equipment
- Other approved lifestyle supports
A competitive advantage for your clients
PWAs provide clients with cost certainty while supporting their attraction, engagement and retention strategies.
As workplace expectations continue to evolve, employees increasingly value benefits that recognize their unique circumstances and interests. A PWA gives employers the flexibility to support wellness in ways that are relevant to their workforce.
When combined, HSAs and PWAs create a powerful benefits strategy that balances flexibility, employee choice and budget management.
Helping clients choose the right fit
When discussing account-based benefits with clients, understanding their objectives can help guide your recommendation.
Consider an HSA when a client wants to:
- Help employees manage eligible health and dental expenses
- Supplement a traditional group benefits plan
- Provide a tax-effective benefit solution
- Offer greater flexibility while maintaining a strong connection to health-related expenses
Consider a PWA when a client wants to:
- Support broader employee well-being
- Enhance workplace culture and employee experience
- Offer flexibility beyond traditional health and dental expenses
- Align benefits with diverse employee interests and lifestyles
What you should know
Health Spending Accounts and Personal Wellness Accounts give you additional ways to help clients build benefits plans that reflect the changing needs of today’s workforce. Whether the goal is helping employees manage health costs, supporting whole-person wellness or creating a more competitive benefits package, HSAs and PWAs can provide the flexibility and cost predictability employers are looking for.