IMPLEMENTATION
OF THE
HEALTH
SPENDING ACCOUNT (HSA)
One of the benefits negotiated in the Tenth Collective Agreement was the consideration of a Health Spending Account (HSA). The money in an HSA can be thought of as non-taxable salary. The Trienniel Review Committee was charged with looking into the feasibility of implementing HSA as stipulated in Article 26.00. This committee has completed this work and on July 1, 2001, each faculty will have personal HSA’s worth $340. This amount will increase to $510 on July 1, 2002. The money in the HSA can be used for an extensive list of health costs. Information sessions will be conducted before July 1 to inform Faculty about conditions and procedures related to their HSA’s.
Soren Bondrup-Nielsen