Effective January 1, 2018, Postdoctoral Fellows (represented by PSAC) and Postdoctoral Associates are provided with $1,400 in Flexible Credits to be allocated between a Health Care Spending Account (HCSA) and a Professional Expense Reimbursement (PER) Account.
If you didn't make your annual allocation by the deadline, you will still receive the $1,400 credit, but by default, $1,400 will be allocated to your Health Care Spending Account.
A Health Care Spending Account (HCSA) is to reimburse expenditures on health, dental, vision and other medical expenses incurred under non-taxable private health services plans, including eligible premiums to other eligible health insurance plans (eg. SOGS Health Plan Premiums).
Eligible expenses include expenses that qualify for the medical expense tax credit, as defined by the Income Tax Act (Canada) and its Regulations.
Manulife Financial is the administrator for this benefit. You may seek reimbursement for medical expenses incurred by completing a HCSA Claim Form and sending it to Manulife Financial. If you don’t use all the credits allocated to your HCSA in the calendar year, the remaining credits will be carried forward and added to any credits for the following year. At the end of the second calendar year, tax law requires that any credits remaining from the previous calendar year’s allocation be forfeited.
A Professional Expense Reimbursement (PER) Account is to reimburse expenditures on conference registration, conference travel and accommodation, to purchase a computer or software, and for other expenses.
Western Financial Services is the administrator for this benefit. Further details concerning claims eligibility and claims procedures can be found on the Financial Services website.
If you don’t use all the credits allocated to your PER in the calendar year, the remaining credits will be carried forward one year.