It’s time to think about your “use it or lose it!” benefits!
With the end of the calendar year fast approaching, please don’t forget about the various benefits available to you that may be expiring soon. These include:
- Your allotment for various medical claims through SunLife. These renew on January 1st, and any unclaimed amounts cannot be carried over to the next calendar year. This includes paramedical benefits, like massage therapy, counselling, and chiropractor (note that vision care is a bit different, and renews on the second year following a claim). More info on your SunLife health plan.
- Your Flexible Spending Program benefits (i.e., the Health Spending Account or Personal Spending Account). The annual amount ($900) carries forward for 1 calendar year, meaning if you have any ammounts left from 2022 you need to use them by December 31, 2023, and If unspent cannot be used towards eligible purchases (although you can still submit claims after January 1st). The PSA amount can be used on a wide variety of expenses, including online music subscriptions, traditional medicines, transit passes, pet care, and even RRSP/TFSA contributions! More info on the Flexible Spending Program.
- Your three (3) Personal/Family days. These are for emergent, personal or family situations, and do not roll over from one year to the next. See Section 20.9 in the ASPA Collective Agreement.
Remember also that your choice of allocation for the Flexible Spending Program needs to be made before the end of the year. This will allow you to select to place money either towards the Health Spending Account (HAS, non-taxable) or the Personal Spending Account (PSA, taxable). More info on allocating funds to your Flexible Spending account.