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Lifestyle Spending Accounts

 (LSAs)

 

Eligible expenses for LSAs can include a wide range of wellness categories and are completely customizable by the employer. 

 

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Lifestyle Spending Accounts (LSAs) Eligible Expenses and Design

When designing an LSA, prioritize flexibility and customization and decide what your main goals are for your LSA. Is it recruitment and retention? Or better utilization of benefits? Start by conducting surveys or engaging in conversations to understand the unique lifestyle preferences of your workforce. 

Physical Wellness

  • Athletic equipment/accessories
  • Exercise equipment
  • Gym, Health club, and spa memberships
  • Fitness classes

Financial Wellness

  • Student loan reimbursement
  • Home purchase expense reimbursement
  • Financial advisor / planning services

Emotional Wellness

  • Meditation classes
  • Counseling services
  • Leadership retreats

Contribution rules for employees

Since LSAs are employer-funded, employees do not make contributions to these accounts. Instead, it’s the employer’s responsibility to contribute to an eligible employee’s LSA.

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