HEALTH SPENDING ACCOUNT
COVERAGE FOR YOUR BEST ASSET - YOU!
A survey by the Canadian Payroll Association found that 48 per cent of respondents said they rely on each payday to cover their bills, with 40 per cent admitting they spend an amount equal to all or more of their net pay each week.
For many people, losing their income - even on a short-term basis - would be difficult. When an injury or sickness keeps you from working for an extended period, this difficulty would feel like a catastrophe.
This scenario occurs more frequently than it should, especially for those who have benefits but discover that they need to wait 30-121 days for their disability plan to take effect.
Without that replacement income, individuals and families can be forced to cut back on even the basics, like food, clothing, transportation and housing.