This article is for Plan Members who have a Blendable HSA Rollover.
Not sure which feature you have? Log in to your Blendable Member Centre and click on Health Spending Account under My Benefits.
Since you have an HSA Rollover as part of your Blendable Benefits your unused HSA funds will be contributed to a Group RRSP on your behalf. This means that whether you have health and dental expenses to reimburse, or not, you're getting the full value of every dollar in your HSA!
If you don't have HSA funds remaining
We will only send RRSP enrolment information to Plan Members who have funds remaining in their HSA that can be invested. If you've used all your HSA funds to reimburse eligible medical expenses, you can stop reading here, you've already got the full benefit from your HSA contributions!
Enrolling in your Group RRSP
To take advantage of these retirement contributions, you'll enrol in the Group RRSP with our partner, Assumption Life. Assumption Life administers the Group RRSP and, once you're enrolled, will communicate directly with you about your investments.
Shortly before it's time to invest your unused funds, you'll receive an enrolment form from Blendable, sent via email from DocuSign. This is where you'll provide your information, and select how your funds will be invested (no pen and paper required!)
Learn more about selecting your investments.
Don't miss out on your investments
If you don't complete the enrolment form sent via DocuSign, your unused HSA funds will be reset and credited to your Plan Sponsor. They won't be available to you for future claims, and they won't be contributed to your Group RRSP.
So, don't ignore the enrolment opportunity and miss out on this important part of your Group Benefits!
Rollover timing
Unused HSA funds are contributed to your Group RRSP at the end of your benefit period after any outstanding claims have been reimbursed. Read up on what happens to HSA funds at renewal time to learn more about how long you have to submit claims, and how the timing of moving these unused funds works.
Contribution limits and taxes
RRSPs (including Group RRSPs) have tax advantages, but they also have certain limitations. Make sure you're using your RRSP to the fullest while avoiding any tax pitfalls. Read our article about understanding RRSP contributions, then consult your employer, accountant, or tax expert to asses your individual situation.