ADMINISTRATIVE SERVICE AGREEMENT WELLBYTES HSA

THIS AGREEMENT is effective as of the date the customer completes the electronic sign-up on the Wellbytes HSA app.

BETWEEN:

Wellbytes Inc., 215 Fort York Blvd, Toronto, ON M5V 4A2, Canada, +1 (888)-218-4549 (hereinafter called “Wellbytes”)

-and-

Your Company/Business Name, as defined in the electronic Wellbytes HSA sign-up form (hereinafter called the Plan Sponsor).

WHEREAS Wellbytes is engaged in the business of providing financial and administrative services;

AND WHEREAS the Plan Sponsor has established a Health Spending Account, (the “Plan”) for its employee(s), a summary of which will be provided by Wellbytes to the employee(s);

AND WHEREAS the Plan Sponsor has agreed to pay an initial annual membership fee of $250.00 to Wellbytes, with an automatic adjustment to $350.00 if claims exceed $5,000, requiring an additional $100.00, and a further adjustment to $500.00 if claims exceed $10,000 within the membership year, requiring an additional $150.00 at that time.

NOW THEREFORE, in consideration of these premises and the mutual covenants and agreements contained herein the parties agree to the following:

WELLBYTES WILL:

  • Provide online information services to the Plan Sponsor with regard to requirements to establish the Plan for its employee(s) and his or her dependents and will assist the Plan Sponsor with implementing the Plan electronically.
  • Administer and manage the Plan electronically on an ongoing basis, including but not limited to:
    • Establishing accounts for the eligible employee and dependents, as authorized by the Plan Sponsor
    • Processing claims from the employee(s)
    • Providing online confirmation that claims meet eligibility requirements through random audits
    • Monitoring claim pool to ensure account maximum is not exceeded
    • Establishing client reporting procedures electronically
  • Follow the guidelines and procedure manuals set forth by respective Provincial Health Information Acts and the Federal
  • Freedom of Information and Privacy Protection Act.
  • Be entitled to all interest earned on temporary account funds.
  • Not be liable in the event that it has paid a benefit for which an employee or dependent was not eligible because the Plan Sponsor failed to electronically update their Plan with timely or accurate information in a manner satisfactory to Wellbytes.
  • Reserve the right to change the annual membership fee on any subsequent anniversary date upon providing the Plan Sponsor with no less than 15 days’ notice.

THE PLAN SPONSOR WILL:

  • Ensure that the Plan is electronically funded in a manner necessary to meet its obligations to the employee(s), his or her dependent(s), and Wellbytes. In the event that the Plan Sponsor fails to fund the Plan as required, Wellbytes is under no obligation to, and will not pay out claims filed by the employee(s). 
  • Pay Wellbytes the agreed upon membership fee on the first day of each renewal term unless the Plan Sponsor provides Wellbytes with an electronic notice (email) delivered to contact@wellbytes.ca advising that the Plan Sponsor does not intend to renew this Agreement. Such notice must be delivered at least 10 days prior to the end of the term.
  • Immediately update their Plan electronically when changes occur that affect the eligibility of any employee and/or dependents.
  • Authorize Wellbytes to apply payments from the Plan Sponsor’s account in settlement of eligible benefits to the employee(s) under the Plan.
  • Ensure that employee(s) will file all claims incurred.

OTHER TERMS AND CONDITIONS:

  • This Agreement shall automatically renew on each subsequent anniversary date for successive one year terms. If the renewal payment is not received within 30 days from the renewal date, the plan will be terminated and no further claims will be processed.
  • This agreement, together with the electronic Wellbytes HSA sign-up form(s), constitutes the entire agreement.
  • The parties hereto consent and agree to communicate with each other electronically.  Federal and Provincial taxes will be levied on fees when applicable.
  • Termination of this agreement constitutes termination of the Plan.
  • In the event this agreement is terminated, Wellbytes shall have no obligations under the Plan, and shall bear no responsibility to pay claims incurred prior to and including the date of termination.
  • The Plan Sponsor has the right to rescind the Plan within 10 days from the effective date of the initial membership Agreement. Provided no claims have been made under the Plan, Wellbytes agrees to refund the membership fee paid by the Plan Sponsor. Wellbytes bears no responsibility for refunding third party fees

EXCESS COVERAGE PROVISIONS (BENEFIT LEVEL INCREASE):

  • If an employee’s medical expenses exceed the amount in their HSA Basic plan, they may qualify for excess expense reimbursement. Excess coverage is intended solely for unusually large medical expenses. Contact Wellbytes Inc. for reimbursement details; additional fees may apply. Payment of additional fees is due before filing claims for excess expenses.