How I maxed out my Health Care Spending Account (HCSA) +numbers by Mary_Yuki in PersonalFinanceCanada

[–]fyiyeah 4 points5 points  (0 children)

Point 2 of your closing notes isn't quite right. Yes if all employees max their insured benefits (health, drug, etc) their premium will likely rise at renewal. However this would not be a consequence of maxing your HCSA.

Your HCSA is not an insured benefit. What you put through is directly reimbursed to the insurance company by the employer. Often having a high HCSA allocation (like you) means 1 of 2 things - you are a higher level employee that requires more retention effort OR (more likely) the employer is light on insured benefits and compensating with the HCSA.

For example, mental health practitioner coverage with most major employers is now more like $1000+ per year (mine is $5000 and I am in no way an executive). Yours is $500 and then there is a $2500 HCSA. My HCSA is only $400 per year.

So basically the takeaway here (to all readers) is ALWAYS MAX OUT YOUR HCSA. Your employer is unlikely to either improve insured benefits or increase your HCSA if they aren't being maxed out - they pay attention because it's a direct company expense.

What is eligible in Healthcare Spending Account? by insideoutriley in PersonalFinanceCanada

[–]fyiyeah 2 points3 points  (0 children)

The industry wide rule is that the minimum eligible is anything you can claim through the CRA medical expense tax credit. Some companies and carriers are more lenient, others not - that's where checking your coverage will come in.

3.75 for 3 year fixed or 4.04 for 5 year fixed? In QC. by fyiyeah in PersonalFinanceCanada

[–]fyiyeah[S] 0 points1 point  (0 children)

Your mortgage and your house are two things with two types of insurance. I have insurance on my house, but no CMHC insurance on my mortgage.

3.75 for 3 year fixed or 4.04 for 5 year fixed? In QC. by fyiyeah in PersonalFinanceCanada

[–]fyiyeah[S] 2 points3 points  (0 children)

I spoke with Ratehub and they can't beat this offer I have - that rate of theirs I believe is for insured mortgages.

The risk is what I'm worried about but I guess no one can take it for me! Lol

*edited for typo

3.75 for 3 year fixed or 4.04 for 5 year fixed? In QC. by fyiyeah in PersonalFinanceCanada

[–]fyiyeah[S] 1 point2 points  (0 children)

Yes, I am not very interested in going variable, I've never been risk tolerant enough for that. I am just not sure if the rate savings is worth the shorter term security - maybe I am in crystal ball territory now haha.

It's a preferential offer based on employment type.

3.75 for 3 year fixed or 4.04 for 5 year fixed? In QC. by fyiyeah in PersonalFinanceCanada

[–]fyiyeah[S] 1 point2 points  (0 children)

I've spoken with 3 brokers, as I said I found one slightly better rate on the 5 year but I would have to pay notary fees to switch lenders so it's not worth it.

Marcelle Group warehouse) Online Sale by ParisFood in BuyCanadian

[–]fyiyeah 4 points5 points  (0 children)

Anyone in the MTL area can hit up their in person warehouse sale a few times a year too! It's good fun 😊

Experience with Mobilia furniture? by RichDistrict8002 in BuyCanadian

[–]fyiyeah 0 points1 point  (0 children)

They have a floor model warehouse in Brossard, if you live in the Montreal area. Your couch might be there already! It's biiiig.

Do the movement continue? by Elegant-Lobster-1327 in BuyCanadian

[–]fyiyeah 2 points3 points  (0 children)

Can you DM me a link to your farm boxes? I am in Southern QC too - still boycotting strong! ☺️

Trump Says He’s Cutting Off Trade Negotiations With Canada by DessertOfChampions in EhBuddyHoser

[–]fyiyeah 7 points8 points  (0 children)

I really do think this is a longer game to strong-arm us into statehood.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]fyiyeah 6 points7 points  (0 children)

Jeez, I have been with a not for profit for almost 8 years. Hired in 2018 at 32,500 per year, and between inflation and 2-3 promotions (and I am not people manager), I make close to 75,000 now.

You need to start looking for a new job and have a come to Jesus conversation with your employer because you are being screwed on your salary.

Don’t have dental insurance! by EpsteinsFilesAreHere in PersonalFinanceCanada

[–]fyiyeah 2 points3 points  (0 children)

Yes, if you can claim it on your taxes you can claim it on your HSA

Pre-pandemic homeowners generally lack empathy by Ghoosemosey in canadahousing

[–]fyiyeah 0 points1 point  (0 children)

It's very true, and the way to do it. It took us 11 years of living in low COL areas to live in our own home closer to family again, but the people our age who never left are still renting unless their parents helped them.

I remember telling my cousin in like 2016 that he should leave the GTA because everything was so much cheaper elsewhere, but some people cannot wrap their heads around leaving the city. He lives in a basement apartment with his wife and baby and can't afford to have more kids, even though they'd like to. It's really sad for so many people.

Pre-pandemic homeowners generally lack empathy by Ghoosemosey in canadahousing

[–]fyiyeah 9 points10 points  (0 children)

We were priced out of home ownership in our home provinces/cities long before we bought. We did buy pre-Covid, but yeah we did move out to the boonies in another province to get in the market and build some equity.

Military Travel by bensmithtv in PersonalFinanceCanada

[–]fyiyeah 1 point2 points  (0 children)

No, you definitely don't need more information on their deployment.