Lifestyle Spending Account

Offer employees flexible after-tax funds to support life’s everyday needs.

Lifestyle Spending Accounts (LSAs) allow employers to build an account to fund employees’ everyday needs without the burden of managing additional reimbursements. Each employee is unique; give them the choice to use after-tax funds on expenses that aren’t covered by traditional benefits. With an LSA, employers create the program parameters by defining how much employees will receive and what the funds can be used for, and we’ll handle the rest.

Provide Employees with an Added Bonus

Lifestyle Spending Accounts go above and beyond traditional benefit accounts. Since there are limited requirements surrounding LSAs, employers have the opportunity to provide their employees with after-tax funds that can be used in a meaningful way on the individual level. This can help ensure employer dollars are being used in a way that employees themselves view as valuable.

Expense Categories

Common expense categories include:

• Fitness: gym memberships, athletic gear, exercise equipment
• Work from Home Expenses: home office equipment, office supplies, Internet bill
• Professional Development: continuing education courses, conferences
• Return to Office Incentives: gas, meals, auto maintenance
• Care Services: adult and child care related expenses
• Convenience Services: grocery delivery, food delivery, dry cleaning
• Financial Services: financial planning, budgetary education classes
• Pet Care: day care, grooming, insurance
• Work Uniforms or Equipment

Flexible Plan Options

Even though LSAs do not receive the same tax benefits as traditional spending accounts, like a flexible spending account (FSA), these accounts can cover a much wider variety of expenses. Employers decide which expenses to cover and employees simply submit claims for reimbursement for eligible purchases. Employers retain any unused funds, which helps ensure budget dollars are optimized.