It’s easy to fund your Health Spending Account!
On the first of each month, a predetermined amount will be withdrawn from your business bank account and held in trust with Olympia Benefits. This feature is called a PAC (Pre-Authorized Cheque). Your funds will be used to pay employee claims as they are incurred. The funds always belong to you and may be returned to you at no cost.
You decide the monthly contribution with $100 as the minimum amount. We recommend you determine your monthly contribution by totaling the amount you plan to offer your employees and divide by 12. Using this method, there should be enough funds in the account to fund employee claims.
You can also change the amount at any time to fit the needs of your business and your employee claim activity.