Once your allocation is locked in, it can’t be changed—so it’s important to plan ahead! Here’s why:
Allocations Are Final After the Deadline
When the allocation window closes, your choices are set for the benefit year. This is because your plan needs to comply with CRA rules, which require an element of risk for flexible benefits to function like a plan of insurance.Why Changes Aren’t Allowed
Allowing changes after the allocation window could create unfair advantages or risks that don’t align with the structure of the plan. To keep things fair and compliant, allocations must remain fixed after the deadline.How to Make the Best Allocation Choices
Review Your Options Early: Think about your expected expenses for the year and where your funds will be most useful—HSA, WSA, or other categories.
Ask Questions: If you’re unsure, reach out to your Plan Administrator or our live chat team for guidance.
Use Planning Tools: Check out the Allocation guide we made!
Key Takeaway
Once your allocation is set, it’s locked in for the year. Taking the time to plan during the allocation window ensures you get the most out of your benefits and avoid surprises later!