The Canada Revenue Agency mandate that for a Health & Welfare Trust (CHSA), there must be an arms length Trustee and an independent Administrator to adjudicate the claims. When we looked for a partner to handle the independent administration for our Health Spending Accounts, we researched 16 potential providers of these services.
From our initial research, we narrowed that number down to 3 that we thought could all do a great job of manufacturing the product we would provide to our clients, and then visited all three. Based on that research, we decided on a company based out of Toronto called Benecaid. They are not the cheapest option (or the most expensive), but they have the best systems. Based on our research, we think they deliver the best value available.
When we set up accounts for our clients, we want excellence in execution, accurate accounting, efficient claims processing, and accuracy always. Benecaid’s behind the scenes systems allow us peace of mind in these areas, and let us focus on our clients and their needs.
Benecaid is the largest independent Administrator of Health Spending Accounts in Canada, and has been recognized two years running Canada’s fastest growing companies by Profit Magazine. We are pleased to have them partner with us in delivering top-notch service to our clients.