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How does the company "fund" the Health Spending Account?

Pay-as-you-go or Prefund the account.

There are two ways that the “Health Spending Account” can be funded:

  1. The money for each claim is paid by the company at the time of the claim. This is called "pay-as-you-go".
  2. The company can send in a block of money (called “pre-funding”) to be held in an account that will be drawn from as claims come in (the claims are then processed immediately).

All accounts can operate in either mode. Any balance left in the account belongs to the company and can be requested for a refund.

How is money sent to National HealthClaim?

Money can either be by cheque (mailed to National HealthClaim) or by Online Banking using your company banking bill payment service. There are detailed instructions online for the Plan Administrator to help with doing this.