When it comes to travel, ensuring you have the right kind of insurance coverage is essential—especially when traveling outside of your home country. For those with a Health Spending Account (HSA), there may be an option to get reimbursed for certain types of travel insurance, but only if it meets specific criteria.
Eligible Travel Insurance Coverage
Your HSA can cover travel insurance if it specifically includes health, vision, or dental medical insurance. This means that policies focusing solely on medical needs, such as emergency health coverage, prescription medications, eye exams, or necessary dental work, are eligible for reimbursement.
Such coverage is particularly useful if you’re traveling to a country where healthcare costs are high or where you want the peace of mind that comes with knowing you’re covered for essential health needs while away.
What’s Not Covered
Travel insurance policies that extend beyond health, vision, and dental care, such as trip cancellation, lost luggage, rental car coverage, or general travel interruptions, are not eligible for reimbursement under an HSA. These types of travel insurance are considered non-health-related expenses and do not meet the Canada Revenue Agency’s guidelines for HSA-eligible expenses.
Eligible premiums can be submitted under Miscellaneous Allowable - Employee Premium paid to a non-government medical or hospitalization plan (e.g. Blue Cross, Manulife Flexcare, Sun Life Affinity) Only Health, Dental, Vision premiums. No Critical Illness, Accidental Death or Dismemberment Life, or Disability Premiums