Lifestyle Spending Account
Help employees shape a healthy lifestyle! A Lifestyle Spending Account (LSA) can cover a variety of life’s expenses. An LSA can cover gym memberships, top-rated free weights for home, and even the gear they wear in front of the mirror to use them.
How it works
Employers can use an LSA to create a program with a flexible plan design and expense list that fits their employees’ unique needs. An LSA can help employees save on common allowable expenses like gym memberships, computer equipment, internet expenses, personal or marriage counseling, financial planning, as well as other expenses employers feel are important for a healthy physical, mental and financial wellbeing.
Employees get a predetermined amount in their LSA for specific health, wellness and other allowable expenses for reimbursement.
Employees submit claims for reimbursement on the Member Website.
Once claims are approved based on eligibility and availability of funds, employees get reimbursed.
The LSA funds used are included as taxable income on employees’ federal W-2 forms.