December 18, 2019
Will you have part of your 2019 Health Spending Account (HSA) allocation left over at the end of December? If so, you will be able to use that unused balance during 2020 – in addition to the fresh annual allocation of $750. If you still have HSA funds remaining from 2018, those will expire on January 1, 2020 as scheduled.
As you may know, your benefit plans, including healthcare, are negotiated jointly with all unions and separately from regular collective bargaining. Those negotiations are still ongoing. While the HSA carryover is not (yet) a permanent feature, NAV Canada has agreed to extend the carryover for one more year while bargaining continues.
For more details, please refer to the NAV Canada online bulletin on this subject, scheduled for release today, December 18, 2019. As always, feel free to contact your RVP with any questions or concerns.
Peter Duffey Doug Best
President Executive Vice-President