A new, more flexible, benefits plan

To help you get the most value from your Spending Account and take care of your health and wellness, Banyan Software is making some improvements to your Blendable benefits.

Going forward, your monthly contributions can be allocated in one of three ways. Each year you will choose either:

• 100% to your HSA Classic Health Spending Account
• 50% to your HSA Classic, 50% to a Wellness Spending Account
• 100% to a Wellness Spending Account

Selections were due by September 17th. If we didn't receive your selection, your benefits will continue as-is with 100% allocated to your HSA Classic.

Read on to learn more.

Your spending account options

HSA Classic

The HSA Classic is the same HSA you have now. Funds in the HSA Classic can be used to reimburse eligible healthcare expenses for you and your dependants.

An eligible healthcare expense may be reimbursable, tax-free, if:
• It is a Canada Revenue Agency (CRA) eligible medical expense,
• Services were provided by authorized practitioners, and
• You incurred the expense during your plan’s Benefit Period.

A dependant is anyone who is financially dependent on you and is related by blood, marriage, or law. Learn more about who qualifies as a dependant.

As long as an expense is eligible and you have funds available, there are no other plan limits on how you spend these funds – dental visits, massages, prescriptions – it’s your choice!

Your HSA Classic funds carry forward. As your Plan Sponsor contributes to your HSA, these funds accumulate. Unused funds don’t expire or get returned to your Plan Sponsor. They carry forward and can be used to reimburse eligible expenses in the future.

HSA Wellness

Your new Wellness Spending Account option allows the funds contributed to be used to reimburse anything that contributes to the health and wellbeing of you or your dependants. Things like fitness equipment, alternative wellness services, or supplements and vitamins. The trade-off is that funds used to reimburse wellness expenses are taxable, just like your paycheque.

To be eligible, the expense must be for you or an eligible dependant, and incurred during your plan’s Benefit Period.

As long as an expense is eligible and you have funds available, there are no other plan limits on how you spend these funds – it’s your choice!

Your HSA Wellness funds reset. As your Plan Sponsor contributes monthly funds to your HSA Wellness, these funds will accumulate. At the end of each Benefit Period, unused funds are reset and credited to the Plan Sponsor.

Making your selection

Selections were due by September 17th, 2025. If we didn't receive your selection, your benefits will continue with 100% of your monthly contributions allocated to your HSA Classic.

Going forward, you'll have the chance to update your selection each year when your plan renews around January 1st.