The old way vs.the Tedy way.

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		Traditional carriers Sun Life, Canada Life, Manulife, Desjardins Insurance…	Alan Digital insurer	myHSA
Origin	🇨🇦 100% Canadian	🇨🇦 Canada	🇫🇷 France	🇨🇦 Canada
What you pay	Flat per-employee pricing. Pay only for what's used. Up to 50% less than traditional benefits.	Premiums every month, whether used or not. Broker commissions included.	Premiums every month, whether used or not	Claims + admin and broker fees on each one
Yearly raises	100% cost predictable	~85% chance of a premium increase each year	~85% chance of a premium increase each year	No premiums, but a fee on every claim. Total cost depends on usage, so hard to predict.
Custom programs	25 wellness categories, plus custom ones you build	Not available	Not available	Partly, through a wellness account
Policies & rules	Full control: budgets, policies, eligibility. Change anytime.	Fixed by plan design	Pick a plan and your share of the premium	Limits and eligible items
Design & control	Employer builds the program. Employees choose how to use it.	Fixed plan, set limits	Fixed plan, set limits	Within the account's list
Insurance	Add-on, pooled or individual. Only where it matters.	Insurance for everything	Insurance for everything	Bought separately
Telemedicine Virtual Care	Unlimited in our bundle, or as an add-on	Often included or add-on	As an add-on	Add-on with some
Mental Health Virtual Care	Unlimited in our bundle, or as an add-on	Up to plan limits	2 free sessions, then plan limits	Paid from the account
Women's health Virtual Care	Included in our bundle, or as an add-on	Varies	Not listed	Paid from the account
Employee Assistance Program (EAP)	Included in our bundle, or as an add-on	Often an add-on	Not listed	Add-on with some
Time to launch	About 30 minutes	Weeks	2+ weeks after signing	Usually fast
Claim reimbursement	Instantly or within 2-3 days	Usually within days	90%+ within 2 business days	1–3 business days
Tax-optimized rewards	All in one platform	Not available	Not available	Not available
Other dimensions	Rewards, bonuses, RRSPs, expenses, ESOP and more	Not available	Not available	Not available

Based on publicly available information (provider websites), November 2026. "Not listed" means not shown on the provider's website. Features and pricing vary by provider and plan. Virtual care and unlimited programs are part of Tedy's All-inclusive plan. Group insurance is an optional add-on through our insurance partner, with its own eligibility rules. HSA benefits are taxable provincially in Quebec. Savings estimated with Tedy's savings calculator.

Alan, Sun Life, Canada Life, Manulife, Desjardins Insurance, myHSA, Olympia Benefits, Perkopolis, Altrum, Accolad and Bucketlist are trademarks of their respective owners. Tedy is not affiliated with them.

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		myHSA	Traditional insurer HSA Sun Life, Canada Life, Manulife, etc.
How you pay	Flat platform pricing + claims used	Claims + percentage-based administration fee	Claims + administration fees; varies by carrier and plan
Fee on every claim	No fee	Yes. Fee is based on claims processed.	Varies
Cost control	You set the employee budget	You set the employee budget	Employer sets the HSA allocation
Commissions	No broker, no commission	Commission paid to the broker	Commission paid to the broker
Standalone HSA	Yes	Yes	Often offered as part of a broader group benefits plan
Wellness account (WSA)	25 wellness categories, plus custom ones you build	myWSA / myFlexplan	Often available as a PSA
Budget flexibility	Monthly, annual, recurring, cumulative and more	Employer-defined allowances	Depends on carrier and plan design
Different budgets for different groups	By person, team, role or location	Available through plan configuration	Typically through employee classes / plan design
Eligible health expenses	CRA-eligible medical expenses	CRA-eligible medical expenses	CRA-eligible medical expenses
Setup	About 30 minutes	Digital, but advisor-led	Typically part of the group plan setup
Claims	Submit digitally or in the app	App or web	Carrier app / web; some claims may require forms
Reimbursements	Instantly or within 2-3 days	Typically 1–3 business days	Varies by carrier and claim
Real-time balances & reporting	Including advanced reports and integration with HRIS or Payroll		Varies by carrier
Mobile app	Top-rated ★★★★★ app
Rewards & gifts	Included, tax-optimized	Not core	Usually separate
Best for	Teams that want a modern HSA without claim-based fees, plus room to add everything else	Teams looking primarily for spending accounts with advisor support	Teams that want an HSA inside an existing traditional group plan

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		Rewards platforms Perkopolis, Altrum, Accolad, Bucketlist, etc.	Gift card platforms Gift card marketplaces
Any vendor	Employees can spend anywhere eligible	Usually catalogue or marketplace based	Limited to available brands
Employee choice	Spend where they want	Points / catalogue	Chosen gift card
Tax-optimized rewards	Built in	Varies	Usually employer-managed
Custom budgets & rules			Limited
Instant rewards
Automated milestones			Limited
Personalized gifts			Limited
Peer-to-peer kudos	Limited	Core strength
Social recognition feed		Core strength
Works with the rest of compensation	Benefits, stipends, expenses, RRSP + more
Best for	Teams that want flexible, meaningful rewards without locking employees into a catalogue	Teams focused primarily on social recognition and peer-to-peer engagement	Teams that just need simple gift cards

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		Traditional group RRSP	Manual / payroll
Financial institution	Any institution	Usually tied to the plan provider	Employee chooses
Move an existing RRSP	No	Often required to participate through the provider	No
Setup	Minutes	Implementation required	Manual
Matching rules	You set them	Defined through the plan	Managed manually
Contribution limits	You set them	Defined through the plan	Managed manually
Contribution tracking	Automated		Manual
Employee choice	Keep the institution they already use	Limited to provider options
Administration	Tedy handles the workflow	Provider + payroll	HR / Finance
Works with the rest of compensation
Best for	Teams that want to offer matching without forcing employees into one financial institution	Companies that want a traditional group retirement plan	Small teams willing to manage matching manually

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		In-house program Spreadsheets, Slack, email	Payroll / allowances Flat amounts through payroll
Custom programs	Build virtually anything	Possible, but HR-built	Limited
Time to set up	Minutes	Weeks of process design	Manual each cycle
Time spent managing	Automated claims, rules and budgets	High — chasing receipts and approvals	Ongoing payroll edits
Confidentiality	Private employee claims in the app	Often visible in email, Slack or shared sheets	Amounts can show up broadly in payroll
Scalability	Same process from 10 to 1,000+	Breaks as headcount and exceptions grow	Harder as one-offs pile up
Receipts & approvals	In-app and auditable	Manual inbox or spreadsheet	Limited or none
Different budgets by person or team	Built in	Manual and easy to get wrong	Manual
Change programs anytime	Update rules without rebuilding the process	Rework the whole workflow	Tied to the payroll cycle
Tax treatment	Managed through program rules	Employer-managed, easy to miss	Employer-managed
Benefits + stipends together	Same employee experience
Best for	Teams that want flexible programs without the admin burden	Small teams willing to run programs by hand	Teams paying flat allowances through payroll

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		Separate tools	Manual
Bonuses	Automate awards and payouts	Separate bonus / compensation tools	Payroll + spreadsheets
Expenses	Reimburse work expenses in the same platform	Separate expense platforms	Email, spreadsheets, payroll
Non-monetary programs	Manage perks, time and custom programs	Separate HR tools	HR-managed
Insights	See usage and spending across programs	Data split between vendors	Manual reporting
One employee experience
One admin view
One platform across compensation

The old way vs.the Tedy way.

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