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You can allocate funds to the Well-being Account, the Health Spending Account (HSA) or a combination of both.
Well-being Account - The Well-being Account is a flexible resource to help you be your best self at home and at work. To address your unique needs and
interests, it provides reimbursement for expenses that support your physical, psychological, social, financial and environmental well-being. Claims for
eligible expenses are made to Sun Life. Once Sun Life has reimbursed your claim, they will advise TELUS of the amount processed, and any applicable taxes
will be deducted from your pay and shown on your pay advice.
You must use any funds in your Well-being Account by the end of the plan year, or you will lose them. There is no carry-forward of expenses or funds to
the following benefit plan year.
Health Spending Account (HSA) - The HSA is a great way to get tax-free* reimbursement for medical or dental expenses that qualify under the
Income Tax Act (but are not claimed on your tax return), and are not reimbursed by any other insurance plan, whether government or private. Claims
for reimbursement of eligible expenses are made to Sun Life.
* Team members in Quebec must pay provincial tax on reimbursements.
You must use any funds in your HSA by the end of the plan year, or you will lose them. However, you can carry forward eligible expenses for a maximum
of one year.
Please note: If you choose an option that allocates funds to your HSA, the amount shown here will not be reflected on the Benefits Dollars,
Enrolment Summary or Confirmation Statement later on this enrolment. These HSA funds will be provided directly to Sun Life and will be available to you
in the new plan year (starting in March).
Please refer to your benefits manual, found in the Info drop-down at the top of this page, for more information.
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