How does FlexSave work?

What's Covered

The general guiding principal for expense eligibility is that the treatment must be conducted for medical reasons. Procedures covered under traditional employee benefit plans are covered by your FlexSave™ plan as well as other less conventional expenses. Eligible expenses can differ by province and may change from time to time. For complete and up to date detail on expenses which CRA deems acceptable, please visit this link.

Medical Practitioners

Acupuncturist
Anesthetist
Chiropractor
Dentist
Dermatologist
Gynecologist
Massage Therapist
Naturopath
Neurologist
Nurse
Obstetrician
Ophthalmologist
Optician
Optometrist
Orthopedist
Pediatrician
Physician
Physiotherapist
Psychiatrist
Psychologist
Speech Therapist
Surgeon

Dental Treatments

Braces
Bridges
Crowns
Dental Cleaning
Dentures
Examinations
Extractions
Fillings
Fluoridation
Gum Treatment
Oral Surgery
Root Canal

Medicine and Medical Treatments

Alcoholism
Birth Control Pills
Blood Tests
Cardiographs
Contact Lenses
Contraceptives
Crutches
Fertility Drugs
Guide Dog
Hearing Aids
Hydrotherapy
Insulin Treatment
Lab Tests
Laser Eye Surgery
Metabolism Tests
Post-natal Care
Pre-natal Care
Prescription drugs
Private hospital room
Radium Therapy
Spinal Fluid test
Splints
Sterilization
Vaccines
Vasectomy

Other Expenditures

Artificial eye
Artificial limbs
Bathroom aids*
Cat Scan
Diabetic supplies
Diagnostic Fees
Diathermy*
Eye Glasses
Hearing impaired equipment
Heart monitor*
Kidney machine
MRI
Needle & Syringe*
Oxygen Equipment
Pacemaker
Transportation relative to healthcare
Walking aid
Wheelchair
X-rays

*Requires prescription

Emergency Coverage

In conjunction with SSQ Insurance, HUB Financial offers optional supplementary coverage to all FlexSave™ applicants. For a minimal cost, this coverage provides clients with protection should a catastrophic medical event occur either in province or while traveling. Available exclusively to FlexSave™ clients, this plan offers two areas of protection in one plan.

1. Travel Medical¹

If you and/or your covered dependents require medical or surgical treatment outside your own province of residence, this policy will pay certain covered expenses to a maximum of $2,000,000.

There is no deductible associated with this component; however, coverage is limited to a maximum trip length of 60 days.

2. In-Province Catastrophic¹

If you and/or your covered dependents require medical or surgical treatment due to injury, sickness or disease in your province of residence, this plan will then pay for the following covered expenses after an annual deductible of $1,500 per person per category is satisfied.

The plan will then cover up to $25,000 per category expense up to a combined maximum of $125,000 annually subject to a total lifetime maximum of $250,000.

The expense categories are:

a) Semi private hospital room and board
b) Private nursing (ordered or prescribed by a Physician
c) Prescription drugs, sera and vaccines
d) Ambulance (including air)
e) Services of specific licensed practitioners
f) Rental of durable medical equipment
g) Accidental Dental coverage

Available Plan Versions	Pre-Existing Condition Clause
Coverage to age 70	Travel Coverage: No Catastrophic Coverage: 6 months*
Coverage to age 70-75 Available for new clients or upon existing insured reaching age 70	Travel Coverage: 6 months Catastrophic Coverage: 6 months

Stop Loss to Age 70 Rates²		Stop Loss Age 70-75 Product Rates²
Plan Type	Monthly	Plan Type	Monthly
Single	$12.82	Single	$24.64
Couple	$24.53	Couple	$46.31
Family	$31.25	Family	$52.92

1. Please refer to the policy contract for full details on benefits and restrictions.
2. Rates are subject to change with notice
* The 6 month pre-existing condition clause does not apply to the Coverage to Age 70 plan when there are 10 or more employees enrolled in the plan.

Wellness Coverage

A Wellness Plan is a separate benefit category within a FlexSave™ account and has its own limit/amount of benefit. The Wellness Plan shares the same benefit period, unused benefit option and co-pay structure as the main FlexSave™ plan. Adding a Wellness Account to FlexSave™ provides plan flexibility allowing employees to:

• Enhance and maintain personal health and wellness
• Pay for expenses not on eligible expense list, or those removed from list by CRA
• Pay for expenses above main plan limits

Wellness Account Categories
Adding a Wellness Plan expands the expense categories in the plan to include things like:

• Health and wellbeing – i.e. naturopath, smoking cessation
• Fitness activities – i.e. gym membership
• Fitness equipment
• Family care/child care
• Professional services i.e. health assessments/health care

Taxation of Wellness Benefits
Wellness reimbursements to an employee are considered a taxable benefit to that employee. As such employers must provide totals on the employee T4.

Wellness Account Reporting
In order to provide employers with the information necessary to report a taxable benefit on their employee T4, HUB Financial will provide an annual report of all Wellness claims paid for employees. This report will be automatically generated at the end of each calendar year.

Taxes

Ontario
HST of 13% required on the 10% administration fee
PST of 8% required on claim amount
Premium tax of 2% on claim amount and administration fee

British Columbia
GST of 5% required on the 10% administration fee

Alberta, Manitoba, and Saskatchewan
GST of 5% required on the 10% administration fee

Atlantic provinces
HST of 15% required on 10% administration fee

Funding Options

You may choose one of the following structures at setup of a new FlexSave™ Account and may change it at any time. We recommend pre-funding your account as that will ensure that claims are reimbursed in a timely fashion to your employees.

Pre-funded Account

An employer may choose to deposit a lump sum amount into their HUB FlexSave™ account at the beginning of each year or set up a pre-authorized monthly withdrawal/deposit into the account. Amounts for pre-funding should be based on the predetermined maximum being provided to employees. Pre-funding the FlexSave™ account allows HUB to withdraw funds for each claim submitted plus the 10% administration cost and any applicable taxes.

To establish a pre-authorized deposit for payment of claims, the Monthly Trust Deposit Form must be completed. Lump sums may be also deposited by one-time direct bank withdrawal, internet banking, or cheque.

Pay As You Go

With each claim submitted by an employee, HUB will invoice the employer for adequate funds to reimburse the employee and cover our administration fee (10%) plus applicable taxes. Once payment is received from the employer, HUB will reimburse the employee claimed medical expense. You may pay HUB Financial by cheque or internet banking for this option.

When Your Account Needs Funding
HUB Financial will inform you when funds are needed to pay a pending claim. You may pay any outstanding claim amount by one-time direct bank withdrawal, internet banking, or cheque.

How to Deposit Funds into a FlexSave™ Account
There are several methods of depositing funds in to the FlexSave™ Account for payment of current or future claims. Claims can be funded by:

1. Regularly scheduled monthly contribution – pre-authorized deposits may be established using the Monthly Trust Deposit Form to automatically deposit funds into the account.

2. Periodic deposit through internet banking – employers have the ability to transfer funds into their FlexSave™ plan when banking online through their financial institution. We are set up with all major Canadian banks and most credit unions. Simply add HUB FINANCIAL Inc. as a payee on your account and deposit directly into your plan when funds are needed.

3. Mail a cheque to HUB Financial:
Attention: FlexSave 3700 Steeles Avenue West, 10th floor Woodbridge, ON L4L 8M9

4. One-time Payment Withdrawal
You are now able to request a one-time withdrawal from your corporate bank account in order to fund claims payments.

Funding Options	Regular Monthly	Internet Banking	Cheque	One-Time Withdrawal
Pre-funded Account	x	x	x	x
Pay As You Go		x	x	x
Funds Required for Claim		x	x	x

See answers to frequently asked questions about FlexSave

View here

FlexSave Employer Application Complete one application form (link above) and one set up fee payment form:
Set up Fee Payment - credit card
Set up Fee Payment - Pre-Authorized Debit request
Employee Enrollment One enrollment form required for each employee to be enrolled including the business owner.
Pre-Authorized Debit Agreement – (Optional) Complete and submit where a regular monthly deposit to the FlexSave account or a one time ad hoc deposit for funding is being requested
Additional Coverage Payment (Monthly PAD) – (Optional) To be completed where Stop Loss is being offered and paid for by the business

Additional Coverage Pre-Authorized Debit Agreement (Monthly PAD) Complete to change/establish the bank account for Additional Coverage Premium deductions
Stop Loss Employee Enrollment To add new Stop Loss/Additional Coverage for an existing employee

EFT Claim Reimbursement Request To change the employee bank account where claims payments will be deposited.
Pre-Authorized Debit Agreement Complete and submit where a regular monthly deposit to the FlexSave account is to be implemented or to request a one-time ad hoc deposit for funding
Employee/Company Changes To make changes to company or employee FlexSave records
Employee Termination Complete this form to remove an employee from the FlexSave plan
Wellness Plan Application For existing FlexSave clients to add Wellness/LifeStyle (taxable) benefits to their account