A Health Spending Account (HSA) is offered by employers and administered by the Alberta School Employee Benefit Plan (ASEBP).
Essentially, your HSA works like a bank account. Your employer will deposit money in the form of credits into your HSA. The amount of credits you receive is determined by your employer. You can use these credits to pay for eligible health-related expenses for you or your eligible dependants. This makes your HSA a flexible complement to your regular ASEBP benefits. It also provides you with a tax advantage because HSAs use tax-free dollars to pay eligible expenses. Expenses may qualify for HSA if they are considered eligible as an individual medical expense tax credit under the Income Tax Act (Canada) 118.2 (1).
If you are unsure whether you have one, please refer to your ASEBP ID card, the Coverage section of your My ASEBP account or contact your employer or an ASEBP Benefit Specialist.