Health Spending Account vs. Wellness Account

A Health Spending Account is an amount of money deposited by IKEA that can be used to reimburse expenses that qualify as medical expenses under Canada’s Income Tax Act. This account can be used for yourself, your spouse and dependent children.

You can also use it for the reimbursement of any coinsurance and amounts exceeding of benefit maximums under your plan.

The HSA is non-taxable. However, for co-workers who reside in Quebec, the amounts reimbursed from the Health Spending Account are considered a taxable benefit on your provincial tax return only. IKEA will be issuing tax receipts to confirm the taxable benefit.

A Wellness Spending Account (WSA) is an amount of money deposited by IKEA that can be used to reimburse a variety of wellness-related activities to maintain and improve your health. Claims paid from the WSA are considered taxable.