There’s more to investing in your employees’ well-being than doctor visits and co-pays. In
today’s tough labor market, employers need to show prospective employees that their benefits
package focuses on the whole person, not just the standard fare.
One great way of showing you care about your employees is by offering Lifestyle Spending
Accounts (LSAs). These are fully customizable, post-tax benefits to give employers full control
to create a plan that promotes healthy habits and overall well-being.
Examples of eligible expenses range from physical well-being (gym memberships, fitness
classes, entry fees for races, etc.) to financial well-being (financial planning services, identity
theft services, financial seminars, etc.) to emotional well-being (non-medical counseling,
personal development classes, camping supplies, etc.).
LSAs are being used by employers to better attract and retain employees – which is especially
critical for companies in 2022. Taking advantage of LSAs also helps take a proactive approach
to medical benefits – encouraging a healthier, more balanced lifestyle for your employees.
This post is provided by an HR Elements partner, Custom Design Benefits. If you want to learn more about attracting and retaining talent for your company, connect with HR Elements, info@hrelements.com.
