Excess Flex Credits
Management and Professional Staff
Eligible staff members who receive excess Flex Credits must allocate these credits to a Health Spending Account (HSA), a Wellness Spending Account (WSA), or a combination of both. You may claim eligible expenses from the account where you have allocated credits throughout the benefit year (Jan. 1 to Dec. 31). The value of your account depends on your Flex Option Choices.
Once you have chosen your Health and Dental Options during initial enrolment or re-enrolment, any excess Flex Credits available must be allocated to a HSA or WSA. Flex option choices and credit allocations are locked in for the duration of the two-year period but your HSA or WSA credits are refreshed each Jan. 1. The only exception to this is when an employee experiences a qualified Life Event that impacts credits.
The Spending Accounts operate on a credit carry forward basis. Unused Flex Credits may be carried forward for one year after the year in which the credits are allocated. At the end of the second year, unused credits are forfeited. For example, credits deposited on Jan. 1, 2019 and not used by Dec. 31, 2020, will be forfeited. Claims must be submitted in the year they are incurred.