New Spending Account Resources Plus Upcoming Deadlines
Using Your Benefits
Ensuring you have the information you need to effectively use your ASEBP benefits is extremely important to us. So, to help you learn more about your spending accounts—whether you have a Health Spending Account (HSA) alone or an HSA and Wellness Spending Account (WSA)—we’ve created some new resources.
Health Spending Account Video: Making the Most of your ASEBP Benefits
Spending Accounts Video: Making the Most of your ASEBP Benefits (If you have both an HSA and a WSA, check out this version for the lowdown on both types.)
For future reference, you can find these videos in the Resources section of the Spending Accounts page here on asebp.ca, in the Resources section of My ASEBP, as well as on our Benefits channel on Vimeo.
In addition to these new videos, we also wanted to remind you of some important spending account dates coming up:
- August 31, 2022: this is the end of the 2021-22 spending account year, which means this is the last day you can incur expenses for your HSA and WSA. But don’t worry, you have until October 30, 2022, to submit expenses.
- August 31, 2022: this day also marks your allocation deadline (unless another date was indicated in your notification email*) if you’re enrolled in both an HSA and WSA. If you haven’t already allocated your spending account credits for the 2022-23 spending account year, ensure you do so by this date. If you miss your deadline, all new credits for the upcoming spending account year will be automatically allocated to your HSA. *You may have a later allocation date if you are a new employee. In this case, you have 90 days from your enrolment to submit your allocation.
- September 1, 2022: this is the start of the new spending account year, and also marks the beginning of the 2021-22 spending account year run-off period. The run-off period is meant to give you time to submit expenses incurred between September 1, 2021 and August 31, 2022, that you may have forgotten to submit during the year.
- October 30, 2022: this is the end of the 2021-22 spending account year run-off period, which means it’s the last day to submit expenses incurred between September 1, 2021 and August 31, 2022. Any outstanding expenses from this time period will not be accepted after October 30, at 11:59 p.m.
- November 30, 2022: if you still have 2021-22 spending account year credits remaining after the run-off period and they’re eligible to carry forward, then by this date they will be carried forward to their applicable account, for use in the 2022-23 spending account year. Remember, credits stay with the account they were originally allocated to, so if you have 2021-22 credits remaining in your HSA, then they’ll be deposited into your 2022-23 HSA.
If you ever have any questions about your ASEBP HSA or WSA, please don’t hesitate to reach out to us.