Flex spending account (FSA)

Save money on eligible medical, dental, vision, and/or wellness expenses not covered by other health plans.

 

Flex spending account (myFlexplan)

The myHSA myFlexplan allows you to allocate funds to a Health Spending Account and/or a Wellness Spending Account.

FSA limits

Employed as of

Single coverage

Family coverage

January 1 – June 30

$600

$800

July 1 – December 31

$300

$400

Plan highlights

  • You will have your own account with myHSA.
  • An introductory email with plan details and an activation link will be sent to you from myHSA on the date you become eligible.
  • You have 30 days from receipt of the email to select how you want the funds distributed (otherwise, money will be defaulted to the HSA). You may make this allocation annually, at the start of January.
  • Claims can be submitted online or through the myHSA app with quick turnarounds and reimbursement through electronic funds transfer (EFT).

 

Health spending account (HSA)

Allocate money to this account to reimburse eligible health-related expenses not covered by the NOV standard benefit plan, or where benefit maximums have been exceeded.

Plan highlights

  • This account can be used to reimburse claims by the employee and/or their spouse/dependents.
  • Amounts claimed under this account are non-taxable to the employee.
  • Expenses that can be claimed under this benefit are dictated by the Canada Revenue Agency.

 

Wellness spending account (WSA)

Allocate money to this account to reimburse expenses that facilitate an active and healthy lifestyle. This account can be used to reimburse claims by the employee only. Amounts claimed under this account are taxable to the employee.​​​​​​​

Eligible expenses

  • Gym memberships
  • Fitness & sporting goods
  • Vitamins & supplements
  • Holistic (alternative) medicine
  • Practitioner expenses

Click here for a full list of eligible expenses. 

Contacts

myHSA

Documents