Lifestyle Spending Accounts (LSAs): A Creative and Impactful Way to Enhance Compensation and Value-added Benefits
Top employers are elevating their retention game by offering employees benefits that impact their everyday lives. Learn how to be the ‘employer of choice’ by offering benefits accounts that help subsidize a variety of daily living services and products, without creating “point solution overload”. Employers utilizing LSAs can easily address benefit gaps with a targeted and inclusive strategy, that will offer something meaningful to every employee.
You'll walk away with valuable insights such as what an LSA is and how it differs from HRAs, FSAs and HSAs, why LSAs are becoming so popular, how LSAs are designed and funded, compliance considerations regarding eligible expenses and taxability, creative use cases for LSAs as part of a broader people strategy, and an overview of the vendor marketplace for LSA administration.
Disclaimer
Neither Hub International Limited nor any of its affiliated companies is a law or accounting firm, and therefore they cannot provide legal or tax advice. The information herein is provided for general information only and is not intended to constitute legal or tax advice as to an organization’s or individual's specific circumstances. It is based on Hub International's understanding of the law as it exists on the date of this publication. Subsequent developments may result in this information becoming outdated or incorrect and Hub International does not have an obligation to update this information. You should consult an attorney, accountant, or other legal or tax professional regarding the application of the general information provided here to your organization’s specific situation in light of your or your organization’s particular needs.