Temporary Carry-Forward Option for myHSA Benefit Amounts

In this post we discuss CRA's allowance for HSA extensions due to COVID-19 restrictions.

Recently, Bennet Jones issued a Blog statement indicating that CRA will allow additional temporary carry forward health spending accounts because some employees may not have been able to use their limits due to restrictions imposed to combat COVID-19.

Consequently, they are allowing that an HCSA may provide an additional temporary carry forward, up to six months, respecting unused credits expiring between March 15 and December 31, 2020.

If you wish to take advantage of this extension, or offer this extension to your plan members, please let us know.