If you have remaining flex credits, you can apply them toward a Health Care Flexible Spending Account (HCSA) or Personal Spending Account (PSA).

Health Care Flexible Spending Account (HCSA)

The HCSA can be used to pay for eligible health-related expenses not covered by your plan. This tax-advantaged account lets you pay for eligible expenses tax free.

Refer to the Income Tax Act for more information about which expenses are considered eligible as an individual medical expenses tax credit.

Personal Spending Account (PSA)

The PSA works a bit differently. There are no tax advantages to this account, but it can be used for a wider variety of expenses — even those unrelated to health care. Examples of PSA-eligible expenses include:

• Weight management programs
• Smoking cessation programs
• Sports equipment
• Personal trainer services
• Childcare or eldercare services
• Foreign language training
• Tuition fees for university
• Tax return preparation