A PSA or Wellness account provides employees with additional health and well-being options. Coverage options under a PSA are almost limitless. Employers set up their PSA and decide what will and will not be covered. They can set as many (or as few) parameters as they wish. ! When setting up a PSA, an employer will set the dollar amount available to each employee to use for eligible expenses (as determined by the employer). The amounts used from a PSA are a taxable benefit and will need to be included on an employee’s T4 statement.